The Nigerian Content Development and Monitoring Board (NCDMB) has formalized a partnership with the Petroleum Commission of Ghana (PCG) by signing a Memorandum of Understanding (MoU) to improve local content regulations in Ghana's upstream petroleum sector during the 2024 Annual Local Content Conference and Exhibition held in Takoradi, Ghana.

The MoU, which is set to last for three years, focuses on fostering collaboration through information sharing and skill transfer that will benefit both parties.

Under this agreement, NCDMB will provide strategic advice to the PCG on various aspects, including legal frameworks, knowledge exchange, and data collection regarding existing capacities in Ghana.

Additionally, NCDMB will assist in designing a strategic plan for implementing local content initiatives in Ghana's oil and gas industry.

This collaboration is expected to facilitate knowledge advancement and promote local content development within the sector. NCDMB will also extend technical support to the PCG in formulating regulations and policies related to local content laws.

The signing ceremony featured key representatives from both organizations. On behalf of NCDMB, Executive Secretary Felix Ogbe was represented by the Director of Monitoring and Evaluation, Abdulmalik Halilu, and the Director of Legal Services, Naboth Onyesoh.

The PCG was represented by its Executive Secretary/CEO, Egbert Fabille, along with acting General Counsel Nana Akua Agyei.

This MoU builds on previous international collaborations by NCDMB, including a similar agreement with Senegal's National Content Monitoring Committee in February 2022.

During his address at the conference, Ogbe emphasized the importance of collaboration among African oil and gas service companies to sustainably grow local content and meet the goals outlined in the African Continental Free Trade Area.

He highlighted the necessity for innovative approaches to unlock Africa’s hydrocarbon resources, which are estimated at over 125 billion barrels—approximately 10% of global reserves.