Latest news with #localcontent
Zawya
5 days ago
- Automotive
- Zawya
Egyptian President urges expansion of local car manufacturing
Egyptian President Abdel Fattah Al-Sisi underscored the importance of accelerating the country's automotive manufacturing strategy during a meeting on Monday with Lieutenant General Mokhtar Abdel Latif, Chairman of the Arab Organization for Industrialization (AOI), according to a presidential statement. During the meeting, Al-Sisi was briefed on AOI's current projects, including its industrial partnerships with international companies—most notably French carmaker Stellantis. The President highlighted the need to increase the proportion of local components in manufacturing, enhance export capacity, reduce import dependency, and preserve foreign currency reserves. As part of the visit, Al-Sisi inspected locally assembled Citroën C4X vehicles, which feature 45% domestic content. The model is manufactured at AOI's facilities through a joint effort with the Arab American Vehicles Company (AAV) and Stellantis. According to Abdel Latif, the production plan for the Citroën C4X began in August 2023, with the first models completed in March 2025. Production is projected to reach 7,000 units annually over a four-year period, totalling 28,000 vehicles. Looking ahead, AOI is preparing to begin production of a new Stellantis car model by the end of 2026. The model, expected to achieve a production volume of 240,000 units, will be manufactured exclusively in Egypt—marking a significant milestone, as it will not be produced in any other Stellantis facility worldwide. President Al-Sisi also called for deeper cooperation with both local and international private-sector partners, reaffirming Egypt's broader national objective of localising the automotive industry and scaling up vehicle exports. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Zawya
13-06-2025
- Business
- Zawya
Nigerian Content Development and Monitoring Board (NCDMB) Executive Secretary Joins African Energy Week (AEW) 2025 Amid Focus on Enhancing Local Capacity
Felix Omatsola Ogbe, Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB) – the organization tasked with overseeing Nigerian content plans developed by operators -, has joined the African Energy Week (AEW): Invest in African Energies 2025 conference to discuss strategies for enhancing capacity building and local participation across the oil and gas sector. As Nigeria strives to boost oil production to two million barrels per day while scaling-up gas capacity, the NCDMB plays an instrumental part in ensuring local content plans established by operators align with national goals spearheaded by the Nigerian Oil and Gas Industry Content Development (NOGID) Act. During AEW: Invest in African Energies 2025, Ogbe will outline how operators can strengthen local content in the industry, particularly as major projects prepare for development. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Recent initiatives reflect the commitment by the NCDMB to enhance local capacity in Nigerian oil and gas. In May 2025, the organization graduated 20 trainees in critical engineering competencies as part of a 12-month capacity building initiative for oil and gas industry operations. Trainees received international certification. In February 2025, the organization donated a fully-equipped Information and Communication Technology center for the Community Secondary School in Brass Local Government Area. These programs signal the NCDMB's commitment to skills development – from primary and secondary education all the way through to tertiary education. In addition to training initiatives, the organization is strengthening its partnerships with international and regional companies to bolster local content. In April 2025, the NCDMB and Nigerian Gas Infrastructure Company agreed to explore opportunities for collaboration to advance national objectives in local content development and energy infrastructure. Meanwhile, in March 2025, the NCDMB reaffirmed its partnership with the African Petroleum Producers Organization to establish African centers of excellence in local content development. The move aligns with ambitions by both organizations to scale-up capacity building in the oil and gas sector. Established in 2010 under the NOGID Act, the NCDMB has emerged as a driving force behind developing local capacity across the country's oil and gas industry. The organization works closely with a variety of stakeholders – from upstream operators to downstream players to educational, financial and technology institutions – to drive local content strategies. Under a mandate to boost Nigerian local capacity to 70% by 2027, the company has developed 150 information and communication technology centers in second schools across the country, while upgraded select technical colleges, revamped primary schools and trained over 16,000 individuals. Looking ahead, the NCDMB aims to enhance training and local content even further, ensuring the Nigerian oil and gas industry becomes a catalyst for inclusive growth in the country. At AEW: Invest in African Energies 2025, Ogbe will share insights into this strategy, highlighting ongoing initiatives and future local content plans. 'The NCDMB is not only playing an instrumental part in unlocking greater local value in Nigeria, but setting a strong benchmark for other resource-rich countries seeking to enhance local participation in the oil and gas industry. By prioritizing workforce training and skills development, working closely with operators and overseeing their respective content plans, the organization is ensuring Nigeria unlocks greater value from its oil and gas market,' stated Tomás Gerbasio, Vice President of Commercial and Strategic Engagement at the African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
30-05-2025
- Business
- Zawya
Dan Etete: Architect of Nigeria's oil sovereignty
BY the twilight of 2024, Nigeria's local content participation in oil and gas had risen to an unprecedented 56 percent, as reported by the Nigerian Content Development and Monitoring Board (NCDMB). This remarkable milestone reflects a strategic shift in Nigeria's resource governance—an ongoing revolution in which Nigerian companies, workers, and communities increasingly occupy center stage in the oil and gas value chain. But long before such progress became measurable or fashionable, it was visionaries like Chief Dan Etete, Nigeria's Minister of Petroleum Resources from 1995 to 1998, who laid the philosophical, political, and structural foundation for this transformation. Etete's time in office coincided with a turbulent yet defining period in Nigeria's history. Serving under the late General Sani Abacha, he operated in a milieu of intense international scrutiny, geopolitical tension, and entrenched foreign dominance over Nigeria's energy resources. For decades, multinational oil corporations such as Shell, Chevron, and Mobil had maintained monopolistic control over oil exploration and production in Nigeria. Local content was virtually non-existent, and the concept of indigenous ownership of oil blocks was treated as radical, even dangerous. Etete challenged this orthodoxy with courage and clarity. He recognised that economic sovereignty was inseparable from resource control, and he pursued bold reforms to break the stranglehold of foreign multinationals over Nigeria's oil wealth. It is instructive to note that the foresight of Etete in pioneering local content laid the foundation for the recent dynamic Nigeria First Policy by President Bola Tinubu that places emphasis on made in Nigeria goods. For the record, Etete was the one that set up Marginal Field Decree of 1998 for the benefit of all Nigerians to be included in the oil and gas industry. His tenure heralded a new era of indigenous participation and empowerment, even as it attracted controversy from entrenched interests both within and outside Nigeria. Pioneering the local content revolution Etete's boldest policy decision was the allocation of Oil Prospecting Licences (OPLs) to Nigerian-owned companies. On April 29, 1998, he signed off on the award of critical oil blocks—including OPL 245 (Malabu Oil and Gas), OPL 246 (South Atlantic Petroleum), OPL 247 (Heritage Oil), and OPL 248 (Zebra Energy)—to Nigerian firms. Far from being arbitrary handouts, these allocations were grounded in a nationalistic philosophy: to redistribute wealth, transfer technology, build local capacity, and give Nigerian entrepreneurs a stake in the oil economy. It is crucial to understand the status quo Etete was up against. According to the Nigeria Extractive Industries Transparency Initiative (NEITI), over 80% of Nigeria's oil wealth historically accrued to foreign firms, with only $5 out of every $100 remaining in the country. The rest was exported as capital flight, enriching foreign shareholders while Nigerian communities, particularly in the Niger Delta, endured pollution, poverty, and violence. Etete was the first senior public official to confront this injustice—not through rhetoric, but through policy. He expanded the Indigenous Concession Programme (ICP), which had been initiated in the early 1990s but lacked political will and institutional support. Under Etete, the ICP gained teeth. Notably, he facilitated the transfer of OPL 216 from BP-Statoil to Famfa Oil, co-founded by Mrs. Folorunsho Alakija. Today, Famfa Oil is among Nigeria's most successful indigenous oil companies, producing in partnership with Chevron. The saga of OPL 245: A symbol of resource nationalism Perhaps no oil block better illustrates the high stakes and political complexities of Etete's tenure than OPL 245. Covering over 1,800 square kilometers in deep offshore waters, the block holds an estimated 9 billion barrels in oil reserves. In 1998, the oil block was awarded to Malabu Oil and Gas. It is important to state with high sense of responsibility that Dan Atete did not have interest in OPL 245. It was the directors of Malabu that appointed him as a consultant to the oil firm. The goal, as contemporaneous documents show, was not personal enrichment but to create a Niger Delta-led consortium that would ensure the people of the oil-bearing region had a direct stake in the resources beneath their soil. The ownership of OPL 245 became a litmus test for indigenous empowerment. However, in 2001, during President Olusegun Obasanjo's administration, Malabu's license was revoked and the block was reallocated to Shell. This triggered a legal battle that would last more than two decades, involving multiple Nigerian administrations, international oil giants Shell and Eni, and litigation in Nigeria, the UK, France, and Italy. Despite the media firestorm and politically motivated allegations, no court has ever found Etete personally guilty of corruption regarding the Malabu transaction. In fact, in 2017, an Italian court acquitted Shell and Eni executives, and in 2021, a Milan court reaffirmed that no criminal wrongdoing was proven. Even Nigerian courts have affirmed Malabu's title to the block on several occasions. The enduring controversy surrounding OPL 245 is a case study in how resource nationalism can be criminalised when it challenges global corporate interests. Etete became a convenient scapegoat—not because of criminal acts, but because he sought to give Nigerians ownership of their oil. Advocacy for the Niger Delta: Born in the heart of the Ijaw ethnic nation, Chief Dan Etete had firsthand knowledge of the paradoxes of Nigeria's oil wealth. He was vocal about the marginalization of the Niger Delta, and his policies reflected a desire to use oil wealth to catalyze development in the region. Etete's advocacy extended to calls for new states in the Niger Delta, greater resource control, and environmental remediation. He supported the idea of using oil-derived revenue to fund education, infrastructure, and local enterprise. This perspective, though ahead of its time, now aligns with today's Host Community Development Trusts (HCDTs) embedded in the Petroleum Industry Act (PIA) 2021. The long-term impact of Etete's tenure is undeniable. Companies such as Seplat Energy, Aiteo, Oando, Sahara Energy, and Notore—all of which now employ thousands of Nigerians and are publicly traded—owe their rise to the indigenous empowerment precedent set by Etete. The idea that Nigerian firms could compete globally in oil and gas was once unthinkable. Today, it is taken for granted. In 2010, more than a decade after Etete's reforms, the Nigerian government enacted the Nigerian Oil and Gas Industry Content Development Act (NOGICD Act), which mandates that Nigerians must own a minimum percentage of goods, services, and workforce in the sector. This legislation draws a direct philosophical lineage to Etete's early efforts. Under the administration of President Bola Tinubu, Nigeria has doubled down on local content. In 2024, NCDMB reported that 56 percent of oil and gas industry services were performed by indigenous companies. These include fabrication yards, engineering services, and upstream operations—sectors previously monopolized by foreign contractors. In essence, the nation owes these milestones to the brave and bold efforts of pioneers like Dan Etete. A visionary ahead of his time Etete's role in shaping Nigeria's oil and gas architecture has been systematically downplayed, even maligned. Yet, a dispassionate review of the facts reveals that he was not a rogue actor, but a reformer within a resistant system. His decisions were rooted in strategic intent to advance national interest, despite being opposed by powerful foreign and domestic actors. While some critics focus on his association with Malabu, they fail to assess the broader structural changes he made possible. Etete laid the groundwork for local ownership of Nigeria's most vital economic sector. He empowered Nigerian entrepreneurs, defended the rights of marginalized communities, and helped reposition Nigeria on the global oil map—not merely as a supplier, but as a sovereign participant. Restoring a distorted legacy At 80 years old, Chief Dan Etete remains one of the most misunderstood and misrepresented figures in Nigeria's modern economic history. Yet, his legacy is evident in every local oil company that thrives, every Nigerian engineer that works offshore, and every government policy that prioritizes domestic capacity over foreign Nigeria looks to the future—with energy transition, climate change, and economic diversification at the forefront—it must not forget the shoulders it stands upon. Etete's boldness, foresight, and unwavering belief in Nigeria's potential deserve acknowledgment, not vilification. It is time to tell the full story of Chief Dan Etete: not as a footnote in controversy, but as a patriot and pioneer who helped reclaim Nigeria's economic destiny from the grip of foreign dominance.
Zawya
29-05-2025
- Business
- Zawya
Government of Guyana and Afreximbank highlight opportunities under the US$1-billion oil financing facility
The Cooperative Republic of Guyana and African Export-Import Bank (Afreximbank) ( have concluded a two-day roadshow to promote access to a US$1-billion oil services financing facility announced by the Bank in February this year during the Guyana Energy Conference. The roadshow which was held from 21 to 22 May in Georgetown, Guyana, brought together players in the oil and gas sector, finance sector and the government circles as it sought to encourage local participation in Guyana's rapidly growing oil and gas sector. Themed Empowering local content participation for sustainable prosperity through the implementation of Afreximbank mandate, it highlighted the nexus of Afreximbank's mandate in the promotion of local participation in Global Africa and indeed in Guyana. Guyana's economy has been growing rapidly and is expected to record a GDP growth rate of 14 per cent in the next five years [1], supported primarily by the expanded activities in the oil and gas sector and other non-oil sectors. Driven by the growth prospects, the Government of Guyana introduced a Local Content Act in 2021 to optimize economic gains from the oil and gas industry by strengthening the local value chain and prioritizing the use of domestic labor, goods, and services. The policy is built on the pillars of local resource utilisation, capacity building, value retention, multi-stakeholder collaboration, and operational efficiency. Several Guyanese companies, including business intermediaries, SMEs, and financial institutions, attended the Roadshow, engaging directly with the Bank on its strategic support for Guyana's transformative development journey. Other notable persons participating in the event included Ms. Kathy S. Smith, President of the Georgetown Chamber of Commerce and Industry and newly elected vice-Chairperson of the Private Sector Commission and Ms. Nafeeza Gaffoor, the Chairperson of the Guyana Association of Bankers. The Bank introduced a comprehensive suite of solutions, including funded products (loans and credits), non-funded instruments (letters of credit and guarantees), and key trade facilitation tools such as the Pan-African Payment and Settlement System (PAPSS) and the Afreximbank Trade Payment Services and Facilitation Programme. These offerings—alongside treasury and settlement services—are tailored to deploy the new financing facility effectively and catalyse greater private sector participation in high-growth sectors like oil and gas. The two-day roadshow concluded with the identification of immediate projects and interventions for the Bank in Guyana. These include capacity building programmes, development of select national infrastructure projects and support to intermediaries in the oil and gas value chain. Speaking at the roadshow, Dr. Ashni Singh, Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, expressed appreciation to the Afreximbank leadership, on behalf of the Government of Guyana, for establishing the oil service financing facility and for hosting the successful roadshow. He encouraged the Bank to work closely with the private sector in Guyana to facilitate transactions. 'There is a deep and profound historic tie between Africa and the Caribbean, a tie that is rooted first and foremost in our people and our culture. But there are also remarkable economic opportunities between us that have remained untapped and under tapped for far too long. We need, in this generation, to move the relationship beyond historic, cultural, and emotional ties, and now capitalize and leverage resources to realize the vast economic and commercial opportunities that exist between our economies. I therefore urge you, members of the business community in Guyana to interrogate and analyze the products offered by the Bank in detail to fully understand their potential and benefits, and to take advantage of the opportunities they can unlock.' added Honorable Dr. Singh. In his remarks, Mr. Okechukwu Ihejirika, Afreximbank's Acting Regional Chief Operating Officer for the Caribbean said: 'Our US$ 1-billion oil servicing finance facility for local content players in Guyana is not just a promise; it is an initiative we intend to fully implement. Through it, we will empower local Guyanese businesses to participate in the transformative opportunities available in the Oil&Gas sector. We are therefore here to listen, to engage, and to chart a path towards sustainable and shared prosperity.' Mr. Iherjirika said that it was imperative that local businesses also benefit from Guyana's oil wealth. [1] Afreximbank Research Distributed by APO Group on behalf of Afreximbank. Media Contact: Vincent Musumba Communications and Events Manager (Media Relations) Email: press@ Follow us on: Twitter Facebook LinkedIn Instagram About Afreximbank: African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank's total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, 'the Group'). The Bank is headquartered in Cairo, Egypt. For more information, visit:
Zawya
29-05-2025
- Business
- Zawya
Nigeria: Energy firm affirms commitment to inclusive growth, local capacity devt
Asharami Energy, a Sahara Group upstream company, has said it will continue to spearhead the quest for driving inclusive growth and local content development across Nigeria's energy landscape through investments, responsible operations, and collaboration with stakeholders in the upstream value chain. Speaking at the 5th edition of the Nigerian Oil and Gas Opportunity Fair (NOGOF), Leste Aihevba, Chief Technical Officer, Asharami Energy, said the sector would need to shore up local capacity development and participation to effectively contribute to Nigeria's energy security. Aihevba said that while current trends in the industry show increasing involvement of local expertise, a development he described as 'imperative for stability, innovation, seamless operations, and sustainable production to foster economic development in Nigeria. It is worthy to highlight that Asharami Energy already has close to 100% local content participation, with all but a few of the most complex technologies delivered by local service providers. 'Services covering subsurface reviews and studies, field development plans, well interventions, drilling, civil as well as oil and gas infrastructure projects, like flowlines, pipelines, flowstations, roads and location constructions are all provided by local companies.' He noted that Asharami Energy's collaboration model and capacity-building interventions drive the company's commitment to making a difference responsibly in the sector. 'Our message at NOGOF 2025 is simple. Asharami Energy is not just developing assets; we're developing people, communities, and promoting shared prosperity. We believe that the true measure of our success is not just in the number of barrels we produce, but in the impact and the value we create. Asharami Energy has a track record of both building local content capacity with Nigerian Service Providers and working harmoniously with all stakeholders in the local communities in which we operate', he said. Differentiating between local content at the national scale and local community participation in shared prosperity, Aihevba highlighted the company's gas-to-power intervention in the Ajoki community in Edo State, which has been enjoying uninterrupted power supply, promoting clean energy and environmental sustainability for the community, and the vocational training programmes it runs in partnership with the University of Benin Consultancy Services, which delivers skills training in various areas to up to 20 community youths annually. Asharami Energy is also providing roads in host communities to promote access to markets and opportunities and organises health and educational interventions to boost quality of life. Themed 'Driving Investment and Production Growth: Shaping a Sustainable Future for Nigeria's Oil and Gas Industry Through Indigenous Capacity Development,' NOGOF 2025 was held in Yenagoa, Bayelsa State, featuring high-level conversations and exhibitions geared towards putting the spotlight on growing local capacity in alignment with Nigeria's energy transition goals. Held biennially, NOGOF is a premier industry platform organised by the Nigerian Content Development and Monitoring Board (NCDMB) to showcase investment opportunities across Nigeria's oil and gas sector, with participation from key players across the upstream, midstream, and downstream sectors. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
