The Nigerian Content Development and Monitoring Board has created a $20 million loan fund for women-owned businesses operating in Nigeria’s oil and gas sector, allowing them to access low-interest financing and repay within a period of up to three years.
The Board announced the initiative during the 3rd edition of the Diversity Sector Working Group’s Women in Oil and Gas Conference and Mentorship Programme held on March 3, 2026, at Eko Hotels and Suites, Lagos.
The conference, organised in collaboration with the Nigerian Content Consultative Forum, carried the theme “Breaking Barriers, Shaping the Future,” and focused on expanding opportunities for women across the oil and gas value chain.
Delivering his goodwill message, the Executive Secretary of the NCDMB, Engr Felix Omatsola Ogbe, described the loan facility as a strategic intervention designed to improve access to capital for women entrepreneurs who operate within the industry but often face financing constraints.
Represented by the General Manager, Midstream PCAD, Ms Lekoma Phimia, Ogbe said the initiative was established in partnership with the Nigerian Export-Import Bank to provide affordable funding exclusively to women-owned companies with verified oil and gas contracts.
He explained that the facility offers loans at single-digit interest rates with repayment periods of up to three years.
According to him, the programme aims to strengthen the participation of women entrepreneurs in the sector by enabling them to expand their operations and compete more effectively across the oil and gas value chain.
“The Women in Oil and Gas Intervention Fund is designed to accelerate local capacity by giving women entrepreneurs access to affordable financing,” he said.
He added that the initiative would allow women-owned companies to move beyond peripheral roles and participate more actively in core industry operations.
“Inclusive organisations are more innovative, more resilient and more profitable. When women thrive, industries thrive. When women lead, economies grow. When women are empowered, communities prosper,” Ogbe stated.
The NCDMB Executive Secretary also emphasised that the global oil and gas industry is undergoing structural changes driven by energy transition, technological advancements and rising sustainability expectations.
He said these changes require broader perspectives and more inclusive leadership within the industry.
According to him, expanding women’s participation is therefore not just a social objective but also an economic strategy aimed at strengthening the sector’s competitiveness.
To further illustrate the role of women in industry leadership, Ogbe referenced the impact of Ms Oritsemeyiwa Eyesan, Executive Chairman of the Nigerian Upstream Petroleum Regulatory Commission.
He said her leadership demonstrates the growing influence of women in shaping policy, regulation and operational standards within the sector.
“Her leadership clearly shows that competence and inclusion can drive transformation across the industry,” he noted.
Despite progress in recent years, Ogbe acknowledged that many women entrepreneurs still face systemic barriers that limit their participation in the oil and gas sector.
He explained that limited access to financing remains one of the most significant challenges confronting women-owned businesses.
According to him, the new loan fund is designed to address this financing gap and support women-led companies with existing industry contracts.
He noted that the intervention will help women entrepreneurs scale their operations, deliver on industry contracts and build stronger businesses capable of competing with established vendors.
Beyond the loan facility, Ogbe disclosed that the Board has also partnered with the Bank of Industry to provide business training and additional financial support to women-owned enterprises operating in the oil and gas industry.
He said the collaboration focuses on strengthening the managerial capacity of women entrepreneurs while also helping them secure additional access to capital.
According to him, several beneficiaries of previous support programmes have expanded their operations and now provide services to major oil and gas companies across Nigeria.
He explained that women-owned companies are increasingly participating in areas such as logistics and marine services, safety equipment supply and environmental management.
These segments, he said, have historically been difficult for women entrepreneurs to enter due to funding limitations and structural barriers within the industry.
Ogbe also highlighted the Board’s support for skills development programmes aimed at increasing the number of technically skilled women within the oil and gas sector.
He said the programmes are being implemented in collaboration with institutions such as the Petroleum Training Institute and accredited industrial training centres located in Rivers and Bayelsa states.
According to him, the initiative has trained women in specialised skills such as welding and fabrication, enabling them to secure employment in fabrication yards and participate directly in oil and gas infrastructure projects.
“These women are earning dignified livelihoods, breaking stereotypes and inspiring a new generation,” Ogbe said.
He further stressed that partnerships with financial institutions, development organisations and training institutions remain essential to expanding opportunities for women across the industry.
Speaking at the conference, the Chairman of the NCCF Diversity Sector Working Group, Dr Alero Onosode, described the event as a platform for celebrating the progress of women within Nigeria’s oil and gas sector.
She noted that the sponsorship of the conference by the NCDMB reflects the Board’s continued commitment to promoting inclusion and expanding opportunities for women.
Onosode observed that the conference was held in March, the month globally recognised for International Women’s Day, making the discussions particularly significant.
“Alongside this momentum, we are seeing the rise of women into visible and influential leadership roles — regulators, CEOs, directors, engineers and policymakers shaping strategy and transforming spaces that were once dominated by a single voice,” she said.
She added that the theme of the conference encourages stakeholders across the industry to move beyond representation and focus on real impact.
According to her, collaboration between men and women within the industry remains essential for achieving long-term progress.
“Building bridges means women and men working together, turning diversity into strength and collaboration into results,” Onosode stated.
She also called on industry leaders to support mentorship programmes, sponsorship initiatives and partnerships that can help more women advance into leadership positions within Nigeria’s oil and gas sector.
