The Nigerian Content material Improvement and Monitoring Board has launched a $100 million Fairness Funding Scheme geared toward increasing indigenous participation within the nation’s oil and gasoline trade.
The initiative was unveiled by the Government Secretary of the Board, Engr. Felix Omatsola Ogbe, throughout his keynote handle on the opening of the 14th Sensible Nigerian Content material Discussion board.
The occasion drew a big viewers, together with three ministers of state, members of the Nationwide Meeting’s Native Content material Committees, a consultant of the Bayelsa State Governor, the Particular Adviser to the President on Power, two former Government Secretaries of the NCDMB, the Managing Director of the Financial institution of Trade, and high trade executives.
Ogbe stated the brand new Fairness Funding Scheme is designed to “present fairness financing to high-growth indigenous vitality service corporations, whereas diversifying the earnings base of the Nigerian Content material Improvement Fund.”
To operationalise the scheme, a memorandum of understanding was signed throughout the discussion board between Ogbe and the Managing Director of the Financial institution of Trade, Olasupo Olusi, who will collaborate with the Board in managing the brand new product underneath the Nigerian Content material Intervention Fund.
The Government Secretary additionally disclosed that the oil and gasoline sector has already achieved 61 per cent Nigerian Content material by the third quarter of 2025, primarily based on tasks monitored by the Board.
One other spotlight of his handle was the Board’s readiness to onboard a brand new cohort of Venture 100 Corporations, following the profitable implementation of interventions for the preliminary set launched in 2019.
An exit plan for the primary batch of corporations is scheduled for April 2026. Venture 100, an initiative of the Ministry of Petroleum Assets and the NCDMB, helps 100 indigenous oil and gasoline corporations by means of capability improvement and improved entry to market alternatives.
Ogbe additional introduced that the Board would launch the NCDMB Expertise Problem within the first quarter of 2026, adopted by a Analysis and Improvement Truthful within the second quarter of the identical 12 months.
He added that the Board would additionally assessment its seven present tips inside the first half of 2025. On regulatory compliance, the NCDMB has finalized the framework for the issuance of an NCDF Compliance Certificates, which is able to affirm whether or not corporations have met the obligatory one per cent remittance obligation.
“The Certificates will turn into efficient on 1st January 2026 and can be required to acquire key permits and approvals from the Board,” he stated.
Amongst current achievements, Ogbe highlighted the growth of the Neighborhood Contractors Scheme, with greater than 94 disbursements made in 2025 to assist native contractors.
He additionally famous that the Nigerian Content material Academy has now turn into a full-fledged division of the Board, having already hosted seven lecture collection on strategic trade matters.
On human capability improvement, the Government Secretary stated the Board has commenced its Oil and Fuel Discipline Readiness Coaching Programme, masking the highest 10 in-demand technical expertise wanted to assist the surge of recent tasks.
This follows a number of ultimate funding selections and over 20 Discipline Improvement Plans just lately accepted by the Nigerian Upstream Petroleum Regulatory Fee.
In accordance with him, the initiative is designed to make sure that “indigenous technical capability is out there on the take-off of the tasks,” supporting the Board’s long-term technique of deepening Nigerian participation within the oil and gasoline worth chain.
