.Nigeria’s oil and gas sector grew stronger as $42 million was disbursed to SMEs by NCDMB and NEXIM. As a result, local participation was reinforced, indigenous capacity was enhanced, and competitiveness was boosted. In addition, the initiative surpassed the earlier $30 million fund and was aligned with the objectives of the Practical Nigerian Content (PNC) Forum 2025, scheduled for December in Yenagoa.
The PNC Forum 2025 was announced under the theme “Securing Investments, Strengthening Local Content, and Scaling Energy Production.” Consequently, a series of high-level panel discussions was arranged. Efficiency was discussed, Nigeria’s First Policy was assessed after 15 years of the NOGICD Act, domestic strength was explored for global leadership, and technology-driven innovation was highlighted to accelerate localisation and competitiveness.
Olamide Oloko, Conference Producer at dmg Nigeria events, emphasized that the forum reaffirmed Nigeria’s commitment to attracting investment and driving sustainable growth. Therefore, the forum was positioned as a strategic platform where industry leaders, businesses, and policymakers could collaborate and exchange knowledge.
The Bank of Industry (BoI) and NCDMB unveiled a $100 million Equity Investment Fund to support high-potential local companies. As a result, long-term risk capital was deployed to help Nigerian firms scale, compete globally, and deepen value creation. In addition, debt financing was complemented and access to capital was strengthened for competitiveness and growth.
Dr Olasupo Olusi, Managing Director of BoI, explained that the fund relied on rigorous due diligence, disciplined investment reviews, and robust monitoring. Furthermore, he stated that the initiative ensured credible commercial returns while advancing national priorities such as local content development, manufacturing expansion, job creation, and technology transfer.
Felix Omatsola Ogbe, Executive Secretary of NCDMB, announced the introduction of the NCDF Compliance Certificate. Specifically, he confirmed that the certificate would enforce remittance obligations and become effective in January 2026. In turn, companies would need compliance to obtain permits and approvals from the board.
Ultimately, Nigeria strengthened indigenous enterprises, fostered partnerships, promoted knowledge exchange, expanded manufacturing, created jobs, enabled technology transfer, and advanced sustainable growth across the energy secto
sources : Orientalnew
Businessday
