- Nigeria’s Content Development and Monitoring Board (NCDMB) has launched a $100 million equity investment scheme in collaboration with the Bank of Industry to support high-growth local energy service companies.
- The NCDMB will introduce a mandatory compliance certificate, effective January 1, 2026, to confirm adherence to the 1% remittance requirement for permits and approvals.
Nigeria’s oil and gas content regulator has announced a £79 million (US$100 million) equity investment scheme to strengthen indigenous participation in the energy sector. The regulator also confirmed that stricter compliance measures will begin next year. These measures aim to ensure that operators meet all local-content obligations.
Felix Ogbe, Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), addressed delegates at the Practical Nigerian Content Forum. He outlined the purpose of the new initiative. The fund, established in collaboration with the Bank of Industry, will offer equity financing to high-growth Nigerian energy service companies. Ogbe noted that the scheme will help firms expand capacity and adopt new technologies. He added that it will also help them compete more effectively in local and global markets. He further emphasised that the board aims to remove barriers to financing. These barriers have long prevented indigenous firms from scaling their operations.
Ogbe also announced that the NCDMB will introduce a mandatory compliance certificate on January 1, 2026. The certificate will verify adherence to the compulsory 1% remittance under the local-content framework. Companies will need the certificate before they obtain industry permits or government approvals. This requirement links compliance directly to business continuity. The regulator expects the move to improve transparency. It also expects it to strengthen the financial base of local-content programmes.
Ogbe reported that Nigerian content levels in monitored projects increased to 61%, up from 56% the previous year. He credited this progress to major projects, including NLNG Train 7, the AKK gas pipeline, and TotalEnergies’ Ubeta gas development. He also introduced new initiatives planned for early 2026. These include a national technology challenge, expanded oilfield training schemes, and more decisive actions against fraudulent local-content certificate applications. These efforts show the board’s commitment to transparency and innovation. They also support the development of a skilled domestic workforce.
Ogbe concluded by noting that the work ahead remains significant. However, he also pointed out that the opportunities are substantial. He reaffirmed that Nigerian content is central to national industrialisation and long-term economic growth.