To utilize Nigeria’s energy resources and spur economic progress, industry stakeholders must collaborate, according to Engr. Felix Omatsola Ogbe, Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB).
During his keynote address at the 2026 ACFTA summit, which was organized by NCDMB, PETAN, and Legal Concierge and had as its topic Unlocking Africa’s Energy future through ACFTA, he made this statement in order to emphasize the use of the African Continental Free Trade Area (AFCFTA) in the oil and gas industry.
Using Nigeria’s enormous oil and gas reserves as well as its renewable energy resources, Ogbe, who was represented by Dr. Abdulmalik Halilu, Director, Corporate Services, NCDMB, emphasized the significance of optimizing the country’s energy potential.
In order to achieve energy security, encourage the creation of local content, and propel industrialization, he emphasized the importance of teamwork.
Through programs including infrastructure development, technology transfer, and capacity building, NCDMB is dedicated to assisting Nigeria’s energy sector’s expansion, according to Ogbe.
He urged businesspeople to seize industrial possibilities and support the nation’s economic growth.
The Executive Secretary’s statements highlight NCDMB’s dedication to advancing the expansion and advancement of Nigeria’s energy industry. It is anticipated that his speech will reignite debates on how to unleash Nigeria’s energy potential and promote long-term, steady economic growth.
With the aim of attaining energy security and self-sufficiency for Africa, the summit gathered together academics, financial institutions, project promoters, and regulatory bodies to influence the implementation of the AFCFTA in Nigeria’s oil and gas industry.
He pointed out that the oil and gas sector in Nigeria has created a framework for AFCFTA domestication that is based on identifying opportunities, building capacity, and exporting capability.
The nation is positioned to gain from preferential trade terms due to its strengths in logistics infrastructure, refining capacity, and oil field services.
He pointed out that there are still issues, such as the necessity for uniform norms and laws and the obligations for exporters to comply with them.
The main topics of discussion were strengthening cooperation, developing technology, and instituting metrics to assess how the AFCFTA has affected Africa’s trade balance.
Important issues were brought up, like how to make Ghana’s Tema shipyard a regional center for building and repairing vessels and how Nigerian goods might reach Angolan markets.
In order to influence the implementation of the AFCFTA in Nigeria’s oil and gas sector and achieve energy security and self-sufficiency for Africa, the summit gathered together industry leaders, policymakers, stakeholders, regulatory agencies, project promoters, financial institutions, and academia.
