Odimmegwa Johnpeter/Abuja
In its bid to boost indigenous participation in the country’s oil and gas sector, Nigerian Content Development and Monitoring Board (NCDMB) has disclosed that 132 Nigerian companies have accessed a total of N51.785 billion and $359.753 million from intervention funds
The funding includes the $350 million Nigerian Content Intervention Fund, the $50 million Working Capacity Fund supported by NEXIM, and the Women in Oil and Gas Fund.
From the data made available by NCDMB, three manufacturing firms accessed N7.561 billion, while 38 companies received N22.144 billion and $205.666 million for asset acquisition. In addition, 10 firms secured N2.232 billion and $24.728 million to finance contracts, and 25 companies benefited from N15.98 billion and $125.998 million for loan refinancing.
In his speech at a workshop for media stakeholders in Abuja, Dr. Abdulmalik Halilu, NCDMB Director of Corporate Services, said the funding has increased Nigerian participation in the industry from 44 per cent three years ago to 61 per cent this year.
He noted that the NLNG Train-7 project alone engaged about 8,000 Nigerians, stressing that local content is about domestication based on global best practices, not mere indigenisation or promotion of inferior goods.
“The NCDMB has two major responsibilities under the Act: capacity building and enforcement. You cannot enforce local content without capacity, and the Act includes 17 broad schedules and about 300 specific targets as performance indicators,” he explained.
Dr. Halilu further noted that local content drives industrialisation, job creation, research ecosystem development, ownership of critical assets, sustainable operations, environmental responsibility, and profitable indigenous participation in the oil and gas sector.
In his presentation, Dr. Azu Ishiekwene, senior vice chairman/Editor-in-chief of Leadership Newspaper and author of the new book “A midlifers’ guide to Content creation and profit” dwelt on the topic why ‘Good Journalism ‘is no longer Enough: Creating Sustainable income from your content in a digital age”
According to Ishiekwene, good journalism is no longer enough because of the collapse of traditional newsroom revenue
(ads, print circulation, patronage).
• Platform dominance (Google, Meta, X,
TikTok) is capturing the majority of digital ad
value.
• Underpayment and casualisation of
journalists, especially beat reporters.
• Energy reporting is seen as “important” but
not “commercial” by editors.
“Core message: Quality content equals
sustainable income in the digital age;
therefore, journalists must understand the value of extraction” he noted.
Ishiekwene maintained that understanding the new value chain of journalism is critical because it answers the question
“How does money flow today?
“Short answer: not to the creator – unless
they deliberately design for monetisation.
Long answer: A small group of
intermediaries captures most of the value.
Here’s the clean breakdown.
• Platforms: The Primary Monetisers
• (The real winners)
• Who: Google, Meta (Facebook/Instagram),
TikTok, X, YouTube, Apple, Spotify,” he also added.
Hd stated: “Understanding the new value chain of journalism: How does money flow today?
• How they monetise:
o Advertising is sold around your content.
o User data that is harvested from your audience.
o Algorithmic control of distribution
o Subscription tolls (platform fees)
Key truth: Platforms don’t pay for content.
They pay for attention, data, and time. If you
don’t own the audience, you don’t own the
revenue”.
In addition, Ishiekwene explained how understanding the new value chain of journalism is critical to journalists to answer questions like – How does money flow today?
• Other content profiteers:
• Advertisers & brands such as energy
companies, FMCGs, banks, telcos. They buy
access to attention, brand safety, credibility,
and targeted demographics.
• Influencers & independent creators.
• Data brokers and analytic firms
• Governments and political actors
• Media houses (once dominant, now squeezed).
Ishiekwene also stressed that Journalists and original content producers who:
o Rely solely on salaries.
o Depend on platforms for reach.
o Don’t build portable audiences.
o Confuse visibility with value.
Who Loses Most?
Core insight: Content creates value. Distribution
captures it. Ownership converts it to income. Your
audience is your new asset, not your employer.
On Specialisation, Dr. Ishiekwene emphasized the need to turn energy knowledge into economic value-From beat reporting to intellectual capital, Why you need a change of mind?
He also highlighted the fact that core issues: General reporting is becoming commoditised.
•
“Power of deep specialisation:
o Upstream vs downstream
o Power sector changes.
o Energy transition/renewables
o Regulation, host communities, ESG, energy finance
o Building a recognisable “lane” in energy journalism
Specialisation: Turning energy knowledge into economic value.
“Specialisation: Turning energy knowledge into economic value – From beat reporting to intellectual capital,
why you need a change of mindset.
Outcome: Specialisation creates
scarcity → scarcity creates pricing power.
“Areas where energy journalists can specialise for Value
1. Energy Economics & Cost-toCitizen Reporting
The gap:
oMost coverage stops at tariff hikes,
subsidy removal, or pump price
changes. Very few journalists break
down:
oHow energy pricing is constructed.
oWho gains and who loses along the
value chain
oWhy Nigerians pay what the pay.
Value
2. Host Communities, Oil Theft &
Local Energy Politics
The gap:
oReporting often treats oil theft and
pipeline vandalism as criminal
issues, not political-economic
systems.
What’s missing:
oHow host-community relations
actually work under the PIA.
oWhy surveillance contracts succeed
or fail.
oThe economics of illegal refining and who benefits.
3. Energy Governance &
Regulatory Accountability
The gap:
oMost Nigerians don’t understand
what regulators actually do—or fail
to do.
Under-reported areas:
oNERC, NUPRC, NMDPRA decision making.
oLicensing, enforcement, and
sanctions.
oQuiet regulatory capture and conflicts of interest.
ise For Value
4. Power Sector Contracts &
Market Design
The gap:
oPower reporting is often reactive:
blackout stories, grid collapse
headlines.
What’s missing:
oHow Nigerian Bulk Electricity
Trading (NBET) contracts work.
oWhy discos are financially weak.
oHow liquidity shortfalls cascade through the system.
5. Energy Transition: Reality vs
Rhetoric
The gap:
o“Energy transition” is covered as
speeches and pledges, not hard
trade-offs.
What’s under-reported:
oWho funds Nigeria’s transition—and
on what terms.
oThe gas-as-transition-fuel debate.
-Job losses Vs job creation in renewables.
6. Energy Data Journalism
The gap:
oNigeria produces data, but few
journalists mine it.
Opportunities include:
oProduction vs revenue
discrepancies.
oImport volumes vs refinery
capacity.
oPower generation vs distribution losses.
“Ethical monetisation: Making money without selling your soul
Fear of monetisation = fear of compromised
integrity
Clear distinction between:
• Consulting
• Training
• Thought leadership
• Research-based services
Conflict-of-interest boundaries journalists must
define for themselves.
Message:
Transparency protects credibility; poverty destroys it.
He also said: “Practical income streams for energy journalists
Core monetisation paths:
• Paid newsletters (sub-stack model, niche
mailing lists)
• Briefing notes for investors, NGOs,
development partners
• Moderating and hosting energy conferences
• Research, white papers, and explainers
• Training (energy literacy for non-experts).
“Practical income streams for energy journalists
• Podcasting & sponsored deep-dives (with
disclosure)
• Speaking engagements and panels
• Data-driven reporting products
Nigeria-specific angle:
Local knowledge, regulatory insight, and access=global value.
“Platforms, tools, and skills journalists must master: How to fill the digital skill gap.
Issues:
Journalists underuse:
• LinkedIn (for influence & income)
• Email lists
• Analytics
• AI tools (research, summarisation, archiving,
ideation)
• Dependence on newsrooms for digital strategy
• No personal content infrastructure
Key takeaway:
Journalists must build portable digital
assets they control.
“Trust, credibility, and reputation in a corrupt information space.
Issues:
• Disinformation, lobby groups, and paid
narratives in energy reporting are traps to be
consciously aware of.
• Why credibility is a monetisable asset.
“Nigerian Structural Constraints
Core realities:
• Weak copyright enforcement
• Low willingness to pay for news
• Political pressure and corporate intimidation
• Unclear tax and regulatory frameworks for
solo creators
• Safety and access issues on the energy beat
Message:
Constraints are real, but so are
opportunities for adaptive journalists.
“From Pen to Prosperity: Closing message
Journalist as:
• Knowledge worker
• Trusted interpreter
• Public educator
• Market signaler
The future belongs to journalists who:
• Own their expertise
• Own their audience
• Own their ethics
• Own their platforms
Last word:
“The digital age did not kill journalism. It killed dependency.
Earlier, Dr. Obinna Ezeobi, NCDMB General Manager of Corporate Communications, assured that the Board would continue to support the media through capacity-building engagements to enhance accurate and effective reporting of the industry.
“Today, we continue the tradition of equipping Nigerians, this time journalists, with the capability to engage meaningfully with industry players,” he said.
END
