By Seun Ibiyemi
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Omatsola Ogbe, has reaffirmed the Board’s commitment to strengthening local content development with participation in the groundbreaking ceremony of a permanent shorebase facility by Esso Exploration & Production Nigeria Ltd at the Lagos Deep Offshore Logistics (LADOL) yard.
In statement posted on it X handle, representing the Executive Secretary at the event, the Senior Technical Adviser, Austin Uzoka, emphasised the strategic importance of sustained investment in critical infrastructure to deepen Nigerian participation in the oil and gas sector.
Uzoka called on industry stakeholders to prioritise strategic partnerships and direct equity participation in large-scale projects, warning against excessive dependence on debt financing.
He noted that early expressions of interest from private investors and financial institutions indicate growing confidence in the viability of the LADOL initiative.
According to him, infrastructure projects such as the LADOL shorebase are essential to enhancing indigenous capacity and ensuring long-term value retention within the country’s energy industry.
Read also:Navy seizes 20,000 litres of stolen crude
The ceremony underscored NCDMB’s continued drive to advance local content development while leveraging infrastructure as a catalyst for economic growth.
Stakeholders at the event expressed optimism that the project would spur innovation, create employment opportunities, and further position Nigeria as a leading hub for offshore logistics and industrial operations in the region.
