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Home ยป Indigenous firms control 60% of domestic gas supply in Nigeria – NCDMB
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Indigenous firms control 60% of domestic gas supply in Nigeria – NCDMB

OsunDailyBy OsunDailyOctober 4, 2023No Comments1 Min Read
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Indigenous firms control 60% of domestic gas supply in Nigeria - NCDMB
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Engr Simbi Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board, NCDMB, says the countryโ€™s indigenous oil firms control 60 per cent of the domestic gas supply from zero participation in the past decade.

Wabote disclosed this at a meeting with media stakeholders on Wednesday.

According to him, with Seplatโ€™s acquisition of Mobil Producing Unlimited (MPNU) from ExxonMobil Corporation and Oandoโ€™s purchase of Nigerian Agip Oil Company Ltd, the development would positively affect the countryโ€™s crude oil production capacity.

โ€œWe are proud that we have moved from near zero participation in the oil and gas sector to the point that our indigenous operators such as SEPLAT, AITEO, EROTON, and others are now responsible for 15 per cent of our oil production and 60% of our domestic gas supply.

โ€œWith this planned acquisition, the share of local firms in crude oil production could reach 30 per cent or more in a short whileโ€, he stated.

DAILY POST recalls that Oando announced a 100 per cent acquisition of Nigerian Agip Oil Company Ltd less than a month ago.

Also, Seplat, in February 2022, had agreed to acquire a 100 per cent stake in Mobil Producing Unlimited (MPNU).


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Control Domestic firms Gas Indigenous NCDMB Nigeria supply
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