NCDMB Launches $100m Equity Investment Scheme as Nigerian Content Soars to 61% in 2025

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The Nigerian Content Development and Monitoring Board (NCDMB) has unveiled a landmark $100 million Equity Investment Scheme aimed at accelerating indigenous participation and strengthening capacity in Nigeria’s oil and gas industry. The announcement was made by the Executive Secretary of the Board, Engr. Felix Omatsola Ogbe, during his keynote address at the opening of the 14th Practical Nigerian Content (PNC) Forum, which concluded on Thursday.

The high-profile event drew stakeholders from across the sector, including three ministers of state, members of the National Assembly’s Local Content Committees, a representative of the Bayelsa State Governor, the Special Adviser to the President on Energy, two former Executive Secretaries of the NCDMB, the Managing Director of the Bank of Industry (BoI), and top executives from the oil and gas industry.

Engr. Ogbe explained that the newly introduced $100 million Equity Investment Scheme is designed to “provide equity financing to high-growth indigenous energy service companies while diversifying the income base of the Nigerian Content Development Fund (NCDF).”

To kick off the initiative, an MoU was signed between Engr. Ogbe and the Managing Director of the Bank of Industry, Dr. Olasupo Olusi. The Bank of Industry will oversee the management of the scheme, which is a new product under the Nigerian Content Intervention Fund (NCI Fund).

In a major milestone for the sector, the NCDMB disclosed that Nigeria has achieved a 61% Nigerian Content level by the third quarter of 2025 from projects currently monitored by the Board. This marks one of the highest recorded levels since the inception of the Nigerian Content Act.

The Board also announced its readiness to onboard a new batch of Project 100 Companies, following successful interventions for the first cohort introduced in 2019. An exit phase for the inaugural group is scheduled for April 2026.

The Project 100 initiative identifies, nurtures, and scales 100 indigenous oil and gas companies to enhance their technical capabilities and market competitiveness.

Looking ahead, Engr. Ogbe revealed that the Board will launch the NCDMB Technology Challenge in the first quarter of 2026 and convene a Research and Development Fair in the second quarter. He further noted that a review of the Board’s existing seven guidelines is planned for completion between the first and second quarters of 2026.

Another key development highlighted was the completion of the framework for the NCDF Compliance Certificate, which will confirm a company’s fulfillment of the mandatory 1% NCDF remittance. This certificate will be a prerequisite for obtaining major permits and approvals from January 1, 2026.

The Board also showcased significant achievements, including its expanded Community Contractors Scheme, which recorded over 94 disbursements in 2025 alone. Additionally, the Nigerian Content Academy has now fully transitioned into a full-fledged division of the NCDMB, successfully hosting seven lecture series focused on core industry issues.

In the area of human capacity development, the NCDMB has launched its Oil and Gas Field Readiness Training Programme, targeting the top 10 high-demand technical skills. This initiative supports the wave of Final Investment Decisions (FIDs) on major projects and over 20 Field Development Plans recently approved by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The program aims to ensure that indigenous professionals are well-prepared to take up strategic roles at the onset of these projects.

With the rollout of new financing schemes, capacity-building initiatives, and compliance frameworks, the NCDMB says it is committed to deepening the footprint of Nigerian Content and positioning local companies at the heart of the country’s energy transition and economic growth.