The Bank of Industry (BOI) has signed a Memorandum of Understanding (MoU) with the Nigerian Content Development and Monitoring Board (NCDMB) to launch the Nigeria Content Intervention Fund (NCIF) Equity Investment Scheme, a 100 million dollar initiative aimed at providing long term risk capital to high potential Nigerian companies.
The agreement was signed at the Practical Nigeria Content Forum in Yenagoa and officials described it as a significant milestone in advancing local content development and indigenous participation in Nigeria’s oil and gas industry.
According to the partners, the NCIF Equity Investment Scheme is designed to support Nigerian owned companies with scalable business models by providing patient capital that enables business expansion, improved competitiveness, and deeper participation across the oil and gas value chain.
They said the initiative prioritises sustainable growth, value retention within the local economy, and the development of globally competitive Nigerian enterprises operating from Nigeria.
By leveraging BOI’s development finance expertise and NCDMB’s mandate to promote local content, the partnership is expected to reinforce Nigeria’s industrialisation agenda and expand access to equity financing for indigenous players in the oil and gas sector.
The collaboration underscores BOI’s commitment to long term industrial development nationwide.
