By Abubakar Yunusa
The Federal Government has unveiled a $100m equity investment scheme targeted at expanding the operational capacity of indigenous companies in Nigeria’s oil and gas sector.
The initiative was announced on Tuesday at the 2025 Practical Nigerian Content Forum in Yenagoa, Bayelsa State, by the Executive Secretary of the Nigerian Content Development and Monitoring Board, Engr. Felix Ogbe.
The scheme was formally launched during the signing of a Memorandum of Understanding between the NCDMB and the Bank of Industry.
Ogbe said the fund was created to provide financial backing for high-growth Nigerian energy service companies struggling to access long-term capital required for project expansion.
According to him, the investment programme will operate as an equity financing facility rather than as loans, giving local firms greater financial stability to compete effectively within the sector.
He stated, “The fund will provide equity financing to high-growth indigenous energy service companies while diversifying our NCDF’s income base and strengthening local content development.”
Ogbe explained that the scheme would also support the Board’s broader objectives of deepening Nigerian participation across oil and gas value chains while enhancing wealth creation and job opportunities for local operators.
The NCDMB boss further disclosed that the agency had concluded work on the framework for issuing the Nigerian Content Development Fund Compliance Certificate.
He said the certificate would serve as formal confirmation that companies are meeting the statutory requirement to remit one per cent of the value of their contracts to the fund, as stipulated by law.
Ogbe added that the compliance certificate would become operational from January 1, 2026.
He noted that possession of the certificate would be compulsory for firms seeking major permits, approvals and authorisations from the Board.
“This instrument will ensure strict adherence to remittance obligations and promote transparency across the industry,” he said.
The forum brought together regulators, industry operators and financial institutions to discuss strategies for strengthening local capacity and improving access to funding for Nigerian energy service companies
