Board Signs Deal with Bank of Industry as Ogbe Showcases Milestones at PNC 2025

Board Signs Deal with Bank of Industry as Ogbe Showcases Milestones at PNC 2025

....(NCDMB) has formalized an agreement to establish a $100 million Equity Investment Scheme.

....the Board has announced an increase in Nigerian content levels across monitored projects, rising from 56% to 61%.

.... the work before us is significant, but so is the opportunity - Ogbe

Emmanuel Oduara 

The Nigerian Content Development and Monitoring Board (NCDMB) has formalized an agreement to establish a $100 million Equity Investment Scheme, marking another major step in strengthening indigenous participation in Nigeria’s oil and gas sector. The Board also announced an increase in Nigerian content levels across monitored projects, rising from 56% to 61%.

Executive Secretary of the Board, Engr. Omatsola Ogbe, disclosed these developments on Tuesday at the 14th Practical Nigerian Content (PNC) Conference in Yenagoa, Bayelsa State. Speaking during the event themed “Uniting Industry Stakeholders to Advance Nigerian Content Implementation,” Ogbe signed the partnership documents with the Bank of Industry (BoI) and presented a comprehensive account of the Board’s achievements over the past year.

Ogbe stated:

“As part of our efforts to provide affordable financing for local players in the industry, we have concluded arrangements to establish the $100 million Equity Investment Scheme in partnership with the Bank of Industry. This is a new product under our Nigerian Content Intervention Fund.”

He explained that the scheme will provide equity financing for high-growth indigenous energy service companies, diversify the income base of the Nigerian Content Development Fund (NCDF), and further strengthen local content development.

The Executive Secretary also announced the completion of the framework for issuing the NCDF Compliance Certificate, an instrument designed to confirm companies’ adherence to the mandatory 1% remittance obligations. The certificate will take effect from January 1, 2026, and will be required for obtaining major permits and approvals from the Board.

Ogbe highlighted other notable milestones, including:

Expansion of the Community Contractors Scheme, with over 94 disbursements achieved in 2025.

Plans to host an exit programme for the current Project 100 companies by April 2026, followed by the onboarding of a new cohort.

A scheduled review of the Board’s seven existing guidelines between Q1 and Q2 2026.

Ongoing efforts to finalize legal and fiscal frameworks for the Nigerian Oil and Gas Park Scheme (NOGAPS), ahead of operations commencing at the Odukpani and Emeyal 1 parks.

He also announced progress under the Nigerian Content Academy, noting that seven lecture series focusing on key industry issues have already been delivered.

On infrastructure development, Ogbe confirmed that work has commenced on the Oloibiri Museum and Research Centre, following the execution of a contract between Julius Berger and OMRC Limited in December 2024. Site mobilization occurred in July 2025, with project delivery expected within 30 months.

In line with the Presidential Directive on Local Content Requirements, the Board has implemented new measures to curb the involvement of middlemen in securing certifications. With effect from January 1, 2026, Nigerian Content Equipment Certificates (NCECs) and other certifications will no longer be transferable.

Looking ahead, the Board will launch its R&D Fair in Q2 2026 and the NCDMB Technology Challenge in Q1 2026.

On human capacity development, Ogbe highlighted the rollout of the Oil and Gas Field Readiness Training Programme, targeting the top 10 in-demand skills to improve employment outcomes. Over 11,000 applications have been received to date.

He also provided updates on major projects being monitored by the Board, including SNEPCo Bonga North Tranche 1, Renaissance EPU Phase 3 Development, TotalEnergies Ubeta Gas Development, the NNPC AKK Pipeline, OB3 Gas Pipeline, ELPS Phase 3, Odidi-Warri Expansion, and NLNG Train 7.

Under the Back-to-Creek Initiative, the Board is enhancing STEM education in Niger Delta communities through school renovations and the provision of ICT-enabled science hubs. Feasibility studies and site assessments have been completed across selected schools.

Summarizing the Board’s performance, Ogbe noted:

“I am happy to announce that Nigerian Content levels in projects monitored by the Board have increased from 56% to 61%. These represent highlights of our activities over the last one year. Further details will be shared during the panel sessions.”

He added that this year’s PNC Conference features a new Town Hall Meeting between NCDMB and industry stakeholders, scheduled for Wednesday, to foster open dialogue and feedback on Nigerian content issues.

"Ogbe concluded  by saying the work before us is significant, but so is the opportunity. Let us move forward with renewed purpose and the firm belief that Nigerian Content is key to national development and industrialization.”

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