– 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.

On his part, the Managing Director of BOI, Dr. Olasupo Olusi, described the fund as one that would facilitate high-impact investments across the sector.

“This collaboration marks a significant expansion of our longstanding relationship. Through the $100 million NCIF equity investment scheme, the Bank of Industry will deploy equity and quasi-equity instruments to support high-potential Nigerian companies, complementing traditional debt financing and strengthening access to the long-term risk capital required for scale, competitiveness and value creation,” he stated.

Olusi added that the fund was designed to catalyse multiple high-impact investments while upholding strong governance and risk management standards, noting that its structure aligns with BOI’s proven equity investment model anchored on rigorous due diligence, disciplined review processes and robust post-investment monitoring.