NCDMB’s Simbi Wabote speaks on capacity building in the Nigeria's oil & gas industry

The Nigerian oil and gas industry plays a significant role in the country's economy, and ensuring the active participation of local companies is crucial for sustainable growth. Simbi Wabote, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), has been at the forefront of driving local content development in the sector. In a recent interview with CNBC Africa's Jill De Villiers on the side-lines of the African Oil Week, Wabote shared insights into his journey and the impact of local content regulations on the industry. Wabote's career trajectory is deeply entrenched in the oil and gas sector, having spent 26 years with Shell in various capacities. His experience spans engineering, community engagement, and strategic development, giving him a well-rounded perspective on the industry's challenges and opportunities. He recounted how his tenure at Shell involved spearheading initiatives to involve local communities in the company's operations through community content strategies. These efforts laid the foundation for his transition into championing local content compliance within the company, eventually leading to Shell's recognition as a leader in local content development in Nigeria. Wabote's success at Shell propelled him into a global role, where he developed a comprehensive strategy for promoting local content across all regions where the company operated. This experience equipped him with the tools needed to effect change on a larger scale. In 2016, Wabote assumed his current role at the NCDMB, tasked with overseeing the implementation of local content regulations in Nigeria's oil and gas industry. His approach to regulation is pragmatic, with a focus on driving a win-win agenda for both the country and businesses operating within it. Wabote emphasized the importance of building capacity among local vendors and ensuring they deliver value efficiently to the sector. He stressed that local content requirements should not be viewed as corporate social responsibility but rather as a business imperative. By striking a balance between private sector efficiency and public sector community development, Wabote aims to create sustainable growth opportunities in the industry. One of the key outcomes of the local content act has been the increased participation of local indigenous companies in the sector. The legislation grants Nigerian companies the right of first refusal in divestment processes, enabling them to acquire assets previously held by international oil companies. Wabote cited success stories such as Seplat, ITO, and Eruton, which have significantly expanded their operations and production capacities after acquiring assets through divestments. These companies, predominantly led by Nigerians, showcase the success and impact of the local content law in Nigeria. They not only contribute to the country's oil production but also create job opportunities and drive economic growth. Wabote's vision for the industry is clear - a thriving ecosystem where local companies play a pivotal role in shaping the sector's future. By fostering collaboration, driving compliance, and prioritizing local capacity development, Wabote is paving the way for a more sustainable and inclusive oil and gas industry in Nigeria.