The Federal Government has unveiled a $100 million equity investment initiative aimed at strengthening the capacity of indigenous companies in Nigeria’s oil and gas industry.

The program was announced at the 2025 Practical Nigerian Content Forum held in Yenagoa, Bayelsa State, by Engr. Felix Ogbe, Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB).

The scheme is intended to provide equity financing for high-growth local energy service firms, supporting their expansion while broadening the revenue base of the Nigerian Content Development Fund (NCDF). “This fund is designed to enhance local content development and empower indigenous companies operating in the sector,” Ogbe stated.

The announcement coincided with the signing of a Memorandum of Understanding between NCDMB and the Bank of Industry (BOI), formalizing the partnership to implement the funding initiative.

Ogbe also revealed that the Board has finalized the framework for the NCDF Compliance Certificate, a verification tool confirming that companies meet the statutory one percent remittance requirement. Starting January 1, 2026, this certificate will become mandatory for obtaining critical permits and approvals from the Board.

The launch of the fund marks a key step in the government’s ongoing efforts to promote local participation and growth in Nigeria’s energy sector.