NCDMB Launches $100M Equity Plan as Nigerian Content Hits 61% in 2025

Daftar Isi

New Initiatives to Boost Indigenous Participation in Nigeria’s Oil and Gas Sector

The Nigerian Content Development and Monitoring Board (NCDMB) has launched a series of groundbreaking initiatives aimed at enhancing the role of indigenous companies in the oil and gas industry. One of the most significant is a $100 million Equity Investment Scheme, designed to provide equity financing to high-growth local energy service companies. This initiative is part of broader efforts to diversify the income base of the Nigerian Content Development Fund (NCDF) and strengthen the financial backbone of the sector.

The announcement was made by the Executive Secretary of the NCDMB, Engr. Ogbe, during his keynote address at the 14th Practical Nigerian Content Forum. The event brought together a diverse group of stakeholders, including government officials, industry leaders, and representatives from various regulatory bodies. Among the attendees were three ministers, members of the National Assembly’s Local Content Committees, a representative of the Bayelsa State Governor, and key players in the oil and gas sector.

As part of the $100 million Equity Investment Scheme, a Memorandum of Understanding (MoU) was signed between Engr. Ogbe and the Managing Director of the Bank of Industry, Dr. Olasupo Olusi. This partnership aims to manage the scheme, which is a new product of the Nigerian Content Intervention Fund (NCI Fund). The collaboration is expected to provide much-needed capital to indigenous companies, helping them scale operations and compete more effectively in the global market.

Progress in Indigenous Content Development

Engr. Ogbe highlighted that the Nigerian Content level in the oil and gas sector reached 61% by the third quarter of 2025. This achievement reflects the progress made through the implementation of various interventions and policies aimed at increasing local participation.

Another major development is the NCDMB's readiness to onboard a new set of Project 100 Companies following the successful execution of the first batch, launched in 2019. These companies are selected under an initiative by the Ministry of Petroleum Resources and the NCDMB to nurture and empower indigenous firms. An exit plan for the initial group is scheduled for April 2026, marking a milestone in the long-term strategy to build a sustainable local industry.

Future Projects and Capacity Building

Looking ahead, the NCDMB plans to launch the NCDMB Technology Challenge in the first quarter of 2026 and host a Research and Development Fair in the second quarter of the same year. These events will serve as platforms for innovation and knowledge sharing among local firms. Additionally, the board will review its seven current guidelines between the first and second quarters of 2026, ensuring they remain aligned with evolving industry needs.

A key step forward is the completion of the framework for issuing NCDF Compliance Certificates. This document will confirm that companies have met their one-per-cent remittance obligations to the NCDF. The certificate will become effective on 1 January 2026 and will be required for obtaining key permits and approvals from the NCDMB.

Expanding Access and Strengthening Local Capacity

Recent accomplishments include the expansion of access to community contractors under the Community Contractors Scheme, with over 94 disbursements made in 2025 alone. This initiative supports local communities by providing employment and business opportunities.

The Nigerian Content Academy has also commenced full operations as a division of the NCDMB. It has already organized seven lecture series on critical industry topics, contributing to the professional development of local talent.

In terms of human capacity development, the NCDMB has rolled out the Oil and Gas Field Readiness Training Programme. This initiative focuses on the top 10 skills in high demand, driven by the surge in final investment decisions (FIDs) and the approval of over 20 field development plans by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Infrastructure and Collaboration

The construction of the Oloibiri Museum and Research Centre (OMRC) in Bayelsa State has also begun. The project, jointly sponsored by several key stakeholders, is expected to be completed within 30 months. This facility will serve as a hub for research, education, and cultural preservation related to Nigeria’s energy heritage.

Collaboration across sectors has been emphasized by several officials. Senator Joel Thomas, Chairman of the Senate Committee on Local Content, raised concerns about some indigenous companies failing to meet their obligations under the Nigerian Oil and Gas Industry Content Development Act (NOGICD Act), 2010. Meanwhile, Hon. Boma Goodhead commended the NCDMB for maintaining the PNC Forum and guiding the industry toward achieving the goals of the NOGICD Act.

Government Commitment and Policy Alignment

Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, reiterated the importance of investment in the energy sector. He emphasized the need for stable policies, transparent processes, and market-driven incentives to attract long-term capital. Similarly, Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, noted that the enactment of the Petroleum Industry Act (PIA) 2021 and Presidential Directives have helped restore investor confidence.

Senator John Owan Enoh, Minister of State for Industry, spoke about Nigeria’s transition from import dependence to production strength, emphasizing the need for value creation across the energy sector.

The Bank of Industry (BOI) has also pledged support through the $100 million NCIF Equity Investment Fund, aiming to deploy equity and quasi-equity capital to high-potential Nigerian companies. This initiative complements traditional debt financing and strengthens access to long-term risk capital.

Mrs. Olu A. Verheijen, Special Adviser to the President on Energy, praised the NCDMB for its role in advancing the industry. She highlighted examples of successful local projects, such as SHI-MCI’s fabrication yards and Waltersmith’s modular refining success, as proof of what can be achieved when policy, ambition, and capability align.