Since 1956 when oil was first discovered in commercial quantity in Oloibiri, an agrarian and fishing community in Bayelsa State, oil has remained the mainstay of the nation’s economy. Decades after, gas production commenced in Nigeria, and has been contributing significantly to the economic growth of the country. Today, the oil and gas industry accounts for about 90% `of the nation’s GDP.
In the capitally intensive and highly skilled oil and gas industry with its numerous opportunities, it is sad to note that Nigerians over the years were not strongly positioned to play significant roles in terms of local content participation. In 2010 however, the Nigerian Content Development and Monitoring Board (NCDMB) was established by the Nigerian Government following the signing into law of the Nigerian Content Development Act to increase indigenous participation in the oil and gas industry as well as building local capacity and competencies to boost industry contributions to the growth of Nigeria’s economy.
It is on the basis of the foregoing that the NCDMB Annual Oil & Gas Undergraduate Nigerian Content Essay Competition was conceptualised and developed. The whole idea is intended to promote academic excellence amongst university and polytechnic students in the Niger Delta as well as stimulate their overall understanding of the operational framework of the Nigerian Content Development initiative and the role of the NCDMB in this regard. Also, the project is intended to inspire the students into the future as young entrepreneurs of a new generation equipped with the knowledge and capacity to see and participate in the oil and gas industry and the talent to create value from that opportunity.