Board, Bank Launch $100m Equity Fund

Nigeria’s drive to grow indigenous participation in the oil and gas industry received a major boost yesterday with the launch of a $100 million Equity Investment Scheme by the Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BoI).

The initiative, announced at the opening session of the 14th Practical Nigerian Content (PNC) Forum in Yenagoa, is designed to provide long-term capital for high-growth Nigerian companies and deepen local content across the energy value chain.

At the forum, the executive secretary of the NCDMB, Engr. Felix Omatsola Ogbe, said the equity fund is a fresh addition to the Nigerian Content Intervention Fund and will give local service companies access to capital that would otherwise be difficult to secure.

He said the scheme would also diversify the income base of the Nigerian Content Development Fund while strengthening indigenous participation.

Ogbe explained that the fund would operate through a strict framework developed with BOI to ensure transparency, commercial viability, and measurable impact on local content growth.

He emphasized that supporting homegrown companies with affordable financing remained central to the board’s mandate.

Beyond the new equity scheme, Ogbe also outlined several initiatives the board has completed or will roll out in 2026. These include the newly developed NCDF Compliance Certificate, which will become mandatory from January 1, 2026, for companies seeking key approvals and permits from the board.

He said the board had expanded the Community Contractors Scheme, completing more than 94 disbursements in 2025, and would in April 2026 exit the current cohort of Project 100 companies while onboarding a fresh set.

He added that the board would review seven key guidelines between the first and second quarters of 2026 and finalise the legal and fiscal framework for operations at the Odukpani and Emeyal 1 Oil and Gas Parks.

Ogbe also noted progress in human capacity development, reporting over 11,000 applications received for the Oil and Gas Field Readiness Programme, which focuses on top technical skills in high demand across the sector.

The executive secretary further highlighted ongoing efforts in research, technology innovation and STEM education in Niger Delta communities, including work on the Oloibiri Museum and Research Centre and the Back-to-Creek STEM initiative.