The Federal Government has announced plans to launch a $100 million Equity Investment Scheme aimed at expanding access to affordable financing for indigenous companies operating within Nigeria’s oil and gas industry.
Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola-Ogbe revealed this during the opening session of the 14th Practical Nigerian Content Forum held at the Content Tower in Yenagoa.
The 2025 edition of the forum is themed “Securing Investments, Strengthening Local Content and Scaling Energy Production.”
Stakeholders at the event underscored the need for increased investment in the hydrocarbon sector to sustain growth and strengthen the country’s energy landscape.
Omatsola-Ogbe disclosed that local content participation in the oil and gas sector has risen from 56% to 61% within the past year, describing the progress as crucial for national development and industrial growth.
He explained that the new Equity Investment Scheme, developed in partnership with the Bank of Industry, will form part of the Nigerian Content Intervention Fund.
Minister of State for Petroleum Resources (Gas), Dr. Ekperikpe Ekpo, reiterated the central role of gas in Nigeria’s future economic development and called for stronger collaboration between government and industry players to deepen local content.
Similarly, Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, highlighted that the Tinubu administration has introduced a stable legal and regulatory framework, restoring investor confidence after years of stagnation.
He emphasized the importance of increasing crude oil production to maximize these benefits.
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Representing Bayelsa State Governor Douye Diri, Secretary to the State Government, Prof. Nimibofa Ayawei, called for enhanced support for local content initiatives and increased collaboration to build indigenous capacity.
During goodwill messages, Senate Committee Chair on Oil and Gas, Senator Joel Onowakpo-Thomas, and House Committee Chair Boma Goodhead emphasized that local content must translate into measurable impacts. Portfolio and Country Director of DMG Events Nigeria,
Wemimo Oyelana noted that this year’s forum coincides with the 15th anniversary of the NOGIC Act, reinforcing the shared national commitment to unlocking capital and promoting local participation.
A major highlight of the event was the signing of a Memorandum of Understanding between the NCDMB and the Bank of Industry, formalizing the $100 million Equity Investment Scheme under the Nigerian Content Intervention Fund.
