Nigeria’s Content Development and Monitoring Board (NCDMB) has unveiled a $100 million equity investment scheme aimed at strengthening indigenous participation across the country’s oil and gas value chain.
🔹 Key Highlights
- $100M equity fund launched with the Bank of Industry to support high-growth local energy service firms.
- New Local Content Compliance Certificate required from January 1, 2026, confirming adherence to the mandatory 1% remittance rule — now essential for all permits and approvals.
- Nigerian content levels in monitored projects rose to 61%, up from 56% last year, supported by major developments such as:
- NLNG Train 7
- NNPC’s AKK Pipeline
- TotalEnergies’ Ubeta Gas Project
- Additional initiatives coming in 2026 include a national technology challenge, expanded oilfield training programs, and tighter controls to curb fraudulent certificate applications.
🔹 Why It Matters
This is a strategic push to accelerate local capacity, deepen industrialization, and ensure Nigerian firms capture greater value from the country’s expanding energy projects.
“The work before us is significant, but so is the opportunity. Nigerian content is key to national development and industrialization.”
— Felix Ogbe, Executive Secretary, NCDMB