NCDMB targets broader access to funding for indigenous oil, gas firms
BY MOTOLANI OSENI
Key stakeholders in Nigeria’s energy sector have renewed their push to improve financing opportunities for indigenous oil and gas companies, as the Nigerian Content Development and Monitoring Board (NCDMB) hosted a sensitisation workshop aimed at strengthening local participation and financial access.
Held in Lagos, the forum brought together sector players to discuss funding challenges and chart a more inclusive path for homegrown firms.
The Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe—represented by Mr. Mubarak Zuabair, Acting Director, Finance and Personnel Management—emphasised that the initiative is part of the Board’s ongoing strategy to sustain the gains of Nigerian Content implementation through transparency, efficiency, and accountability.
Ogbe highlighted the Board’s key funding and compliance mechanisms, including the Compliance Certificate System, an upgraded Nigerian Content Development Fund (NCDF) payment portal, the revised Community Contractors Finance Scheme, and the Nigerian Content Intervention (NCI) Fund.
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He explained that the Compliance Certificate System now offers a standardised and transparent framework to ensure Nigerian Content requirements are met across oil and gas projects. The upgraded NCDF portal, he noted, enables real-time tracking and simplifies remittance processes, boosting operational efficiency.
The restructured Community Contractors Finance Scheme—developed in collaboration with FCMB and other partners—aims to eliminate funding barriers for contractors from host communities. The initiative seeks to drive inclusive growth by enabling genuine local contractors to access capital and contribute meaningfully to sectoral development.
Addressing the Nigerian Content Intervention Fund, Ogbe revealed that 130 indigenous companies have already accessed portions of the $400 million facility managed by the Bank of Industry (BOI) and the Nigerian Export-Import Bank (NEXIM), enhancing local capacity and participation in the sector. He assured that the Board is working to ensure even broader access to the fund.
He urged participants to engage fully with facilitators, seek clarity, and offer ideas that could strengthen the Nigerian Content ecosystem. Ogbe also praised the contributions of Vascon Solutions, FCMB, NEXIM Bank, BOI, and other technical partners for their continued collaboration in building a sustainable funding framework for local players in Nigeria’s oil and gas industry.
