Felix Ogbe, the executive secretary of the NCDMB, at the 14th Practical Nigerian Content (PNC) conference in Bayelsa on December 2, 2025
The Nigerian Content Development and Monitoring Board (NCDMB) has announced a $100 million equity investment scheme to boost indigenous participation in the energy sector.
The plan is part of efforts to fund local firms, Felix Ogbe, the executive secretary of the NCDMB, said at the 14th Practical Nigerian Content (PNC) conference in Bayelsa on Tuesday.
“As part of our efforts to provide affordable finance for local players in the industry, we have concluded arrangements to establish the $100 Million Dollars Equity Investment Scheme in partnership with the Bank of Industry,” he said.
“This is a new product in our Nigerian Content Intervention Fund.”
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Ogbe said the finance scheme will provide equity financing to high-growth indigenous energy service companies “while diversifying our NCDF’s income base and strengthening local content development”.
The executive secretary said the board will also introduce a compliance certificate from January 1, 2026, which will confirm companies’ adherence to a mandatory 1 percent remittance obligation.
The certificate, Ogbe said, will be required for permits and approvals.
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He said Nigerian content levels in monitored projects rose to 61 percent from 56 percent last year, citing major projects such as Nigeria LNG Train 7, NNPC’s Ajaokuta-Kaduna-Kano (AKK) gas pipeline and TotalEnergies’ Ubeta gas development.
“In addition, as indicated in my PNC speech last year, the Board has expanded access to community contractors under the Community Contractors Scheme, achieving over 94 disbursements in 2025,” Ogbe said.
Noting that the board introduced the Project 100 companies in 2019, the NCDMB boss said after the successful execution of approved interventions, “we will host an exit plan by April 2026 and onboard a new set of Project 100 companies”.
He said other initiatives to be introduced include a technology challenge in early 2026, expanded training programmes for oilfield skills, and measures to curb fraudulent applications for local content certificates.
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