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NCDMB, BOI sign deal
By Obas Esiedesa, Abuja
The Federal Government has launched a $100 million equity investment scheme aimed at boosting the capacity of Nigerian companies operating in the oil and gas sector.
The initiative was unveiled 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 (NCDMB), Engr. Felix Ogbe.
Speaking at the signing of a Memorandum of Understanding between the NCDMB and the Bank of Industry (BOI), Ogbe said the scheme was designed to support high-growth indigenous energy service companies.
He explained that 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 also disclosed that the Board had completed the framework for issuing the NCDF Compliance Certificate, an instrument that confirms companies’ compliance with the statutory one percent remittance obligation.
The certificate, he said, which will take effect from January 1, 2026, will be mandatory for obtaining key permits and approvals from the Board.
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