The Federal Government is set to roll out a new financing initiative aimed at strengthening Nigerian participation in the oil and gas sector. The Nigerian Content Development and Monitoring Board (NCDMB) announced plans to launch the Nigerian Content Equity Fund (NCEF) in December.

The fund is designed to provide long-term risk capital for Nigerian companies operating in high-value and high-impact areas of the oil and gas industry. The announcement was made during an event in Yenagoa, Bayelsa State, which celebrated Tamrose Limited’s full repayment of a $10 million loan under the Nigerian Content Intervention Fund (NCIF).

NCDMB Executive Secretary, Engr. Felix Ogbe, represented by the board’s General Manager of Human Capacity Development, Esueme Kikile, highlighted the importance of the new fund in promoting local talent, innovation, and ownership. “The Nigerian Content Equity Fund will provide strategic capital to help indigenous companies grow, compete globally, and expand into high-value sectors,” Ogbe said.

Ogbe praised Tamrose Limited for its growth story, describing it as a model of what disciplined effort and opportunity can achieve. The company, which has grown into a leading marine logistics operator, is among more than 20 indigenous firms that have successfully repaid loans under the NCIF program.

“The achievements of Tamrose and other NCIF beneficiaries underscore the capacity of Nigerian enterprises to deliver excellence,” Ogbe added. He also reaffirmed the board’s commitment to empowering more local companies to expand sustainably and compete on the international stage.

The NCEF is part of the government’s broader strategy to deepen local content in the oil and gas sector and support the growth of indigenous firms. The fund will be officially unveiled at the Practical Nigerian Content Forum scheduled to hold in December.