The Nigerian Content Development and Monitoring Board (NCDMB) has thrown its full weight behind the federal government’s new ‘Nigeria First’ policy, aimed at boosting local production and reducing reliance on imported goods in the oil and gas sector.

Speaking at the Nigerian Oil and Gas Energy Week in Abuja, NCDMB’s Executive Secretary, Felix Ogbe, said the policy aligns with the board’s mission to promote Nigerian participation across the industry. He emphasized that achieving energy self-sufficiency will require strong investment in local capacity from exploration and production to manufacturing and services.

Ogbe stated that the board is developing a specific procurement policy to ensure priority is given to locally available goods and services. He also announced plans to launch two baseline studies: one to assess the capabilities of Nigerian service providers, and another to identify local manufacturers that supply oil and gas materials.

To support this initiative, the NCDMB has also overhauled its N50 billion Community Contractors Fund, originally introduced in 2018 to help indigenous businesses in host communities. The fund had seen little progress until now.

Fatima Mohammed, who oversees the Nigerian Content Development Fund, explained that the revamped scheme will allow verified contractors to access up to N100 million in funding at single-digit interest rates. The fund will now be decentralized and run in partnership with financial institutions like FCMB and the Bank of Industry (BOI), making it easier for community-based businesses to access support.

The fund’s new terms include simpler collateral requirements and a focus on companies earning at least N500,000 annually. FCMB and BOI also plan to offer training, business support, and loan monitoring to ensure long-term impact.

According to Ogbe, these combined efforts are part of a broader commitment to empower Nigerians, protect the country’s economic future, and strengthen local content in one of its most strategic industries.