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The Nigerian Content Development and Monitoring Board (NCDMB), in partnership with the Bank of Industry (BoI) and the Nigerian Export-Import (NEXIM) Bank, has unveiled a range of funding mechanisms and business opportunities aimed at boosting indigenous participation in Nigeria’s oil and gas sector.
This was disclosed on Tuesday during a sensitisation workshop held in Warri, Delta State, where stakeholders across the industry were introduced to financial support schemes, compliance requirements, and new digital tools designed to ease access to opportunities in the sector.
The workshop, themed “Deepening Local Content through Certificates, Compliance and Financial Support,” highlighted the growing availability of funds and initiatives targeted at Nigerian businesses, contractors, and entrepreneurs seeking to participate in the oil and gas value chain.
A key highlight of the event was the unveiling of the Nigerian Content Fund Compliance Certificate (NCFCC) Portal, a digital platform designed to streamline compliance processes and improve access to funding.
Speaking at the event, the Manager, Capacity Building Division (CBD) of NCDMB, Mr. Uchenna Okafor, described the compliance certificate as a critical requirement for companies operating in the oil and gas sector.
He explained that contractors and operators are mandated by law to remit one per cent of the value of every upstream contract into the Nigerian Content Development Fund (NCDF), adding that the certificate serves as proof of compliance and a gateway to accessing financial support.
According to him, the introduction of the portal marks a major shift from the previous manual system, which was characterised by delays, paperwork, and limited transparency.
“With this portal, compliance becomes faster, simpler, and more transparent. Companies can now apply online, reduce processing time, and eliminate the need for physical documentation,” he said.
Okafor noted that the certificate is not just a regulatory requirement but a strategic tool that unlocks access to funding, particularly the Nigerian Content Intervention Fund.
He disclosed that more than $400m has already been disbursed to over 130 indigenous companies through various intervention programmes, significantly addressing financing challenges within the sector.
He further revealed that initiatives such as the Project 100 Companies and a $100m equity investment scheme by NCDMB are strengthening local capacity and ensuring long-term sustainability.
Also speaking, the Divisional Head and General Manager, Extractive Industries at BoI, Mr. Taiye Emaga, reaffirmed the bank’s commitment to supporting Nigeria’s industrialisation and energy development goals.
He described the collaboration between BoI and NCDMB as a strategic partnership focused on delivering tangible impact, particularly in empowering local businesses to thrive in the oil and gas industry.
Providing insights into specific financing opportunities, the Senior Manager, Oil and Gas at BoI, Mr. Oladipupo Adebanjo, disclosed that the bank manages the $300m Nigerian Content Intervention Fund (NCIF), established in 2016.
He explained that the fund offers five key products, including asset acquisition, loan refinancing, contract financing, community contractor financing, and manufacturing support under the Nigerian Oil and Gas Parks Scheme (NOGaPS).
According to him, the fund is designed to support scalable businesses, with a competitive interest rate of eight per cent on dollar-denominated loans.
On its part, NEXIM Bank outlined targeted funding opportunities for indigenous companies, particularly through a $50m seed fund managed in partnership with NCDMB.
The Head, Specialised Business at NEXIM Bank, Mr. Mohammed Awami, disclosed that the fund is divided into two segments — $30m for Working Capital and Human Capital Development (HCD), and $20m specifically for Women in Oil and Gas.
He noted that the facility has a tenor of up to three years, with a moratorium period of up to 12 months, and a maximum loan size of $1m per company.
Awami stated that eligible companies must be registered with the Corporate Affairs Commission (CAC), operate within the upstream oil and gas sector, and contribute to the NCDF.
He revealed that NEXIM has already disbursed about $55m to 74 indigenous companies under the scheme.
However, he expressed concern over the low participation of women, noting that only $2.5m has been accessed from the Women in Oil and Gas Fund over the past four years.
He urged female entrepreneurs to take advantage of the opportunity, stressing that the bank is ready to support more women-led businesses in the sector.
Beyond funding, the workshop also showcased digital platforms designed to enhance transparency and participation in the industry.
A demonstration of the NCDF Payment Portal and Compliance Certificate Portal was conducted by VASCON Solutions, providing stakeholders with a step-by-step guide on how to make payments and obtain certification.
In another presentation, the Manager of Joint Qualification System (JQS) and E-Market at NCDMB, Mr. Babatunde Akhihiero, explained the importance of the Nigerian Oil and Gas Industry Content Joint Qualification System (NOGIC JQS).
He described it as the official platform for Nigerian content registration, in line with Section 55 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010.
According to him, the platform serves as a database for evaluating compliance, tracking local content implementation, and facilitating skills development.
He added that Nigerians seeking employment and training opportunities in the oil and gas sector are required to register on the portal.
Industry experts at the event also emphasised the importance of community participation and compliance in accessing available opportunities.
During a panel session moderated by the Chief Executive Officer of SB Capital Limited, Mr. Steve Bawa, discussions focused on the Community Contractor Financing Scheme, vendor participation, and the role of compliance in unlocking funding.
In his closing remarks, the Manager of the Nigerian Content Development Fund at NCDMB, Mr. Erefagha Turner, commended the over 300 participants for their engagement and encouraged more Nigerians to take advantage of the available opportunities.
He reiterated the Board’s commitment to ensuring that indigenous companies and skilled individuals play a significant role in the oil and gas value chain.
The Warri workshop is part of a broader nationwide sensitisation campaign, with similar engagements already held in Lagos and Port Harcourt, aimed at increasing awareness and participation in the sector.
