The Nigerian Content Development and Monitoring Board (NCDMB) has unveiled a fresh $100 million Equity Investment Scheme, increasing the board’s total intervention for local oil-and-gas service companies to $550 million.
In his address at the opening of the 2025 Practical Nigerian Content Forum 2025 in Yenagoa, the board’s Executive Secretary confirmed that the new scheme, which is developed in partnership with Bank of Industry (BOI), aims to provide equity financing to high-growth indigenous energy service companies, while also diversifying the income base of the overarching fund, the Nigerian Content Development Fund (NCDF).
Under the agreement, BOI will use equity and quasi-equity capital, not just traditional loans to back promising domestic firms. This approach is meant to give these companies access to long-term, risk-tolerant capital required to scale, become competitive, and create value.
Also disclosed was the formalisation of a compliance regime: starting January 1, 2026, firms will need the NCDF Compliance Certificate to obtain permits and approvals from the board. The board is also ending the transferability of the Nigerian Content Equipment Certificate (NCEC), ensuring only certified firms qualify for tenders.
Beyond financing, NCDMB highlighted other ongoing initiatives, including expansion of the Community Contractors Scheme, the upcoming review of guidelines for the Nigerian Oil and Gas Parks Scheme (NOGAPS), and construction of the long-awaited Oloibiri Museum and Research Centre, a symbol of heritage and industrial vision.
According to the board, these actions are already bearing fruit: reported local content in monitored projects rose from 56% to 61% in 2025, a milestone that, they say, affirms Nigeria’s growing industrial maturity.
“This finance scheme will provide equity financing to high-growth indigenous energy service companies. It will also diversify our NCDF income base while strengthening local content development,” the board declared, underscoring its commitment to building homegrown capacity and inviting broader participation from Nigerian firms.
By redirecting $100 million into equity rather than debt, NCDMB and BOI are enabling local firms to scale up, own critical assets, and deepen value retention within Nigeria. The push enhances domestic industrial capacity, boosts job creation, and helps preserve foreign exchange by fostering in-country production and capability.
