Energy Stakeholders Discuss Funding For Local Industry Players

Oil and Gas players recently converged at a sensitisation workshop for local industry players to help improve access to funding.

The workshop sponsored by the Nigerian Content Development and Monitoring Board (NCDMB), was a move to sustain gains recorded in the implementation of local content in the oil and gas industry.

The event which was held in Lagos was specifically designed at deepening local participation in the oil and gas sector and strengthening financing compliance with Nigerian Content regulations

The executive secretary of the board, Engr. Felix Omatsola Ogbe, while welcoming the participants, explained that the workshop was aimed at promoting transparency, accountability, and increased access to funding for indigenous companies.

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Engr. Ogbe, who was represented by the acting director, Finance and Personnel Management, Mubarak Zuabair, emphasised the importance of the Board’s key instruments introduced to drive its mandate.

They include; the Compliance Certificate System, the upgraded Nigerian Content Development Fund (NCDF) payment portal, the revised Community Contractors Finance Scheme, and the ongoing progress of the Nigerian Content Intervention (NCI) Fund.

“The Compliance Certificate System is developed to ensure that Nigerian Content requirements are met in all oil and gas projects. With this system, companies now have an objective standard to demonstrate conformity, while the Board strengthens its regulatory oversight. This workshop provides a vital opportunity for hands-on engagement and clarification among stakeholders,” he said.

He further noted that the upgraded NCDF payment portal was a significant milestone in the Board’s drive for operational efficiency. The enhancements, he explained, are designed to simplify remittance processes, improve user experience, and enable real-time compliance tracking.

On the Community Contractors Finance Scheme, Ogbe described the newly revised initiative as a “bold reimagination” of support for contractors from host communities. In partnership with FCMB and other financial institutions, the scheme has been redesigned to eliminate access barriers and encourage greater participation by genuine community contractors, fostering inclusive growth and shared prosperity.

The executive secretary also addressed the achievements and challenges of the Nigerian Content Intervention Fund, a $400 million facility managed by the Bank of Industry (BOI) and Nigerian Export-Import Bank (NEXIM).

According to him, about 130 companies have so far accessed and benefited from the fund, supporting the development of local capacity and driving indigenous participation in the sector. He assured stakeholders that efforts were ongoing to expand access to more Nigerian-owned companies.

Ogbe urged participants to take full advantage of the workshop, actively engage with resource persons, ask questions, and share insights that would further strengthen the Nigerian Content framework.

He also commended the Board’s partners — Vascon Solutions, FCMB, NEXIM Bank, BOI, and implementing consultants for their continued collaboration and support, adding that these joint efforts are critical to building sustainable systems for the future of Nigerian Content.