The Executive Secretary of the Nigerian Content Development and Monitoring Board, NCDMB, Dr. Felix Omatsola Ogbe, has unveiled the $100 million Equity Investment Scheme to assist local operators in the Nigerian oil and gas industry.
The $100m equity investment scheme, which is a partnership scheme with Nigeria’s Bank of Industry, is under the Nigerian Content Intervention Fund (NCIF) and will provide equity financing to high-growth indigenous energy service companies, while diversifying the board’s income base.
Delivering his welcome address at the 14th Practical Nigerian Content, (PNC) Forum on Tuesday in Yenagoa, Bayelsa State, Dr. Ogbe said that the scheme was designed to deepen access to affordable capital for local operators and stimulate stronger local content performance across the industry.
He said that the NCDMB was accelerating reforms that would redefine local participation and support indigenous companies.
He explained that the 2025 PNC Forum, which has the theme “Uniting Industry Stakeholders to Advance Nigerian Content Implementation” remains the board’s flagship platform for stock-taking and future planning.
He noted that the NCDMB continues to operate under the mandate of the Nigerian Oil and Gas Industry Content Development Act, NOGICD Act, of 2010, which empowers the board to build the capacity of Nigerian companies and individuals to effectively participate in the oil and gas value chain.
He disclosed that the board has also completed the framework for issuing a new Nigerian Content Development Fund (NCDF) Compliance Certificate, which will verify companies’ adherence to their mandatory one per cent remittance obligations.
“Effective January 1, 2026, the certificate will be required for securing key permits and approvals from the board. It also strengthens enforcement,” Ogbe said.
According to him, in line with this enforcement push, the board has introduced measures to eliminate “middlemen” and prevent fraudulent applications for Nigerian Content Equipment Certificates (NCEC) and related approvals. From January 2026, all NCEC and other certifications will be non-transferable, ensuring that only compliant companies participate in the tendering process.
Ogbe also announced that following the successful implementation of interventions under the Project 100 initiative, an exit event will be held in April 2026 and that a fresh set of Project 100 companies will be onboarded between the first and second quarters of 2026.
He also disclosed that the board would review its existing guidelines and finalise the legal and financial framework for the Nigerian Oil and Gas Parks Scheme (NOGaPS) ahead of operational commencement.
The Executive Secretary also disclosed that the Nigerian Content Academy Lecture Series has formally commenced, with several sessions already delivered on key industry issues.
He added that construction work on the Oloibiri Museum and Research Centre has started, following the signing of the contract in December 2024 and mobilisation to site in July 2025. The project, handled by Julius Berger, is expected to be completed in 30 months.
Speaking on the successes recorded in the area of local content in the oil and gas industry, which is at the core of its mandate, Ogbe emphasized that Nigerian content is indispensable to national development and industrialization and urged all industry stakeholders to renew their commitment to local content growth.
He added that local content levels on monitored projects in Nigeria had risen from 56 per cent to 61 per cent and listed some ongoing monitoring of several major oil and gas projects as Bonga North, Renaissance development, TotalEnergies’ Better Gas project, NNPC’s AKK pipeline, OB3 gas pipeline, ELPs Phase 3, LNG Train 7 and Warri Refinery expansion.
The board seeks to improve on the number of Nigerian professionals engaged in oil and gas projects as well as increasing locally soured and fabricated equipment used in oil and gas facilities in Nigeria.
GIK/APA