The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr Felix Ogbe, has been appointed to the Executive Board of the African Petroleum Producers’ Organization (APPO).
By the appointment, Mr Ogbe becomes Nigeria’s representative on the board of the 18-member continental body, which has its headquarters in Brazzaville, Republic of the Congo.
Mr Ogbe was picked for this role by the Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, who doubles as the Chairman of the NCDMB Governing Council.
The notice of the Executive Secretary’s appointment was conveyed in a congratulatory letter signed by the Director of Support Services, APPO, Mrs Philomena Ikoko, on behalf of the Secretary General of the organization, Mr Omar Farouk Ibrahim.
She applauded the NCDMB boss on the confidence reposed in him by the Minister, expressing her belief that he would make immense contributions to the development of the African oil and gas industry.
She stated that Mr Ogbe is joining the Executive Board of APPO at a challenging time for the oil and gas industry, especially in Africa.
“Your appointment is a major call to duty for Nigeria and the continent. The secretariat will give you the support you will need to make a success of your assignment,” she noted.
NCDMB played key roles in catalyzing the operations of APPO and the development of local content in the African continent, providing institutional support and mentorship to several oil producing countries in their formulation of local content policies.
NCDMB initiated the African Local Content Roundtable (ALCR) and hosted the inaugural edition at Yenagoa, Bayelsa state, in June 2021, which was attended by key officials of APPO and other oil industry players.
The idea for the Africa Energy Bank was mooted by NCDMB’s officials at the event, as one of the strategies that would accelerate the growth of the African oil and gas industry and deepen local content.
The board also collaborated with APPO to host subsequent editions of the ALCR including the 2023 edition held at Abuja.
The Africa Energy Bank, which APPO is setting up at Abuja is aimed at pooling financial resources needed to fund big-ticket oil and gas projects across the continent, and bridge funding challenges currently impeding the development of the sector.
According to the APPO Secretary General, the Africa Energy Bank seeks to fund oil and gas projects across economies in Africa, helping to plug critical financing gaps that exist through the continent’s overreliance on financiers from the West.
Each APPO member country is expected to raise $83 million with an objective of raising $5 billion capital for the establishment of the bank.
It was revealed recently that Nigeria, Angola and Ghana have contributed their share capital. The trio’s contributions represent 44 per cent of the minimum capital that is required from oil producing countries in the continent.