Nigeria Launches $100 Million Fund to Boost Local Oil and Gas Ownership
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Nigeria’s National Content Development and Monitoring Board (NCDMB) has launched a $100 million equity fund to increase indigenous participation in the oil and gas sector, Executive Secretary Felix Ogbe announced at the Practical Nigerian Content Forum.
The fund, established in partnership with the Bank of Industry, will provide equity financing to high-growth local energy service companies seeking greater involvement in upstream and midstream projects. Ogbe stated that from January 1, 2026, companies applying for permits and approvals must obtain a compliance certificate verifying payment of the mandatory 1% Nigerian content remittance.
Domestic content in monitored projects rose to 61% this year from 56% in the prior year, with examples including NLNG’s Train 7 project, NNPC’s Ajaokuta-Kaduna-Kano pipeline, and TotalEnergies’ Ubeta gas development.
Planned 2026 initiatives encompass a national technology challenge, expanded oilfield training programmes, and enhanced controls to combat fraudulent local content certificates.
The NCDMB fund and regulatory measures support broader government objectives to retain more value locally in a sector led by international operators while fostering co-investment opportunities for Nigerian firms.
