The Federal Government has launched a $100 million equity investment scheme aimed at strengthening the capacity of Nigerian companies operating in the oil and gas industry.
The initiative was announced 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.
The launch also featured the signing of a Memorandum of Understanding (MoU) between the NCDMB and the Bank of Industry (BOI).
Ogbe explained that the fund will support high-growth indigenous energy service companies, helping to broaden the income base of the Nigerian Content Development Fund (NCDF) and deepen local content participation.
He further disclosed that the Board has completed plans to introduce the NCDF Compliance Certificate.
Effective January 1, 2026, the certificate will verify companies’ compliance with the mandatory one percent NCDF remittance, and will be required for major permits and approvals issued by the Board.
Speaking at the event, BOI Managing Director, Dr. Olasupo Olusi, described the scheme as a strategic tool to stimulate transformative investments across the sector.
According to him, the $100 million Nigerian Content Intervention Fund (NCIF) will deploy equity and quasi-equity financing to support promising Nigerian firms, complementing traditional loans and improving access to long-term capital for expansion and competitiveness.
Olusi added that the fund is built on BOI’s tested equity investment framework, which prioritizes strong governance, rigorous due diligence, disciplined evaluation, and effective post-investment monitoring to ensure sustainable impact.
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