- The NCIF equity investment scheme provides equity and quasi-equity capital to high-potential Nigerian companies, complementing debt financing and fostering business growth.
- The partnership ensures that capital deployed through the NCIF equity investment scheme drives local content development, technology transfer, and job creation.
The Bank of Industry (BoI) and the Nigeria Content Monitoring and Development Board (NCDMB) have signed a Memorandum of Understanding (MoU) on the $100 million Nigerian Content Intervention Fund (NCIF) equity investment scheme. The initiative will support high-potential Nigerian companies. It will also strengthen indigenous participation across Nigeria’s oil and gas value chain.
Furthermore, the scheme complements traditional debt financing. It improves access to long-term risk capital. This capital is essential for scaling, competitiveness, and value creation.
At the ongoing Practical Nigeria Content (PNC) forum in Yenagoa, Bayelsa State, Dr Olasupo Olusi, Managing Director and Chief Executive Officer (MD/CEO) of BoI, discussed the importance of the collaboration. He said the partnership marks a key expansion of BoI’s long-standing relationship with NCDMB.
Dr Olusi also thanked the Executive Secretary, Felix Omatsola Ogbe, and the NCDMB leadership for their commitment to local content and indigenous business development.
“Through the $100 million NCIF equity investment scheme, BoI will deploy equity and quasi-equity capital to high-potential Nigerian companies,” he said. “This scheme complements debt financing. It also improves access to long-term risk capital needed for growth and competitiveness.”
He added that the fund reflects BoI’s proven equity investment approach. The approach uses rigorous due diligence, disciplined investment reviews, and careful post-investment monitoring.
Dr Olusi further stated, “Our goal is to ensure deployed capital generates credible commercial returns. At the same time, it advances national priorities. These include local content development, manufacturing expansion, job creation, and technology transfer. We are proud to partner with NCDMB on this initiative. It aligns with the board’s ten-year roadmap and Nigeria’s broader industrial development agenda under President Bola Ahmed Tinubu.”
Earlier, Executive Secretary Felix Omatsola Ogbe stated that the initiative is part of the NCDMB’s strategy to provide affordable financing to local energy service companies. He explained that the NCIF equity investment scheme targets high-growth indigenous enterprises. It also diversifies the NCDF’s income base while reinforcing local content development.
Ogbe highlighted the NCDF Compliance Certificate, effective January 1, 2026. Companies must obtain the certificate to secure key permits and approvals from the board.
In conclusion, BoI and NCDMB reaffirmed their commitment to building resilient indigenous enterprises. These businesses will compete globally and deliver lasting economic value for Nigerians.