Uncategorized
NCDMB Unveils $100m Equity Investment Scheme as Nigerian Content Hits 61% in 2025
By David Owei.
The Nigerian Content Development and Monitoring Board (NCDMB) has unveiled a $100 million Equity Investment Scheme among a raft of fresh initiatives to bolster indigenous capacity and participation in the oil and gasindigenous capacity and participation in the oil and gas industry. The Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe announced this in a keynote address he delivered at the opening day of the 14th Practical Nigerian Content Forum, which ended on Thursday.
The capacity audience included three ministers of state, members of the Local Content Committees of the National Assembly, a representative of the Bayelsa State Governor, Special Adviser to the President on Energy, two former Executive Secretaries of the NCDMB, Managing Director, Bank of Industry, and captains of the oil and gas industry.According to Engr. Ogbe, the $100 million Equity Investment Scheme would “provide equity financing to high-growth indigenous energy service companies, while diversifying the income base of the Nigerian Content Development Fund (NCDF).”In furtherance of the $100 million Equity Investment Scheme, a memorandum of understanding (MOU) was signed at the event between Engr. Ogbe and the Managing Director of the Bank of Industry, Dr. Olasupo Olusi, toward management of the scheme, which is a new product of the Nigerian Content Intervention Fund (NCI Fund). The NCDMB boss also announced that 61 per cent Nigerian Content level already attained in the oil and gas sector by the third quarter of 2025 from the projects being monitored by the Board.Another major announcement was the Board’s readiness to onboard a new set of Project 100 Companies after the successful implementation of approved interventions relating to the first set of Project 100 Companies, launched in 2019, for which an exit plan is slated for April 2026. Project 100 Companies is an initiative of the Ministry of Petroleum Resources and the NCDMB under which 100 indigenous companies in the oil and gas industry are nurtured and empowered to higher levels of competitiveness through capacity building and access to market opportunities.He also said the Board has concluded plans to launch its NCDMB Technology Challenge in the first quarter of 2026 and to hold a Research and Development Fair in the second quarter of 2026. In addition, a review of the Board’s seven current guidelines is to be undertaken between the first and second quarter of 2015. Engr. Ogbe further disclosed that the Board has completed the framework for issuance of NCDF Compliance Certificate, an instrument to confirm that a company in the oil and gas industry has complied with the one per cent remittance obligations. The Certificate will become effective on Ist January 2026 and would be required to obtain key permits and approvals from the Board. Among recent accomplishments of the Board announced by the NCDMB boss was the expansion of access to community contractors under the Community Contractors Scheme, with over 94 disbursements made in 2025 alone. In addition, the Nigerian Content Academy has commenced operation as a full-fledged division of the Board, with seven of its Lecture Series on key industry issues already organised. On human capacity development (HCD), the NCDMB has rolled out its Oil and Gas Field Readiness Training Programme for top 10 skills in high demand, on the back of the surge in final investment decisions (FIDs) on big-ticket projects in the oil and gas industry and over 20 Field Development Plans recently approved by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The Programme is to ensure availability of indigenous technical capacity at the take-off of the projects. The construction of the multibillion-naira Oloibiri Museum and Research Centre (OMRC) at Otuabagi in Ogbia Local Government Area of Bayelsa State has also taken off, with the execution of a contract between the construction firm, Julius Berger Plc, and OMRC Limited in December 2024, while mobilisation to site was achieved in July 2025. Jointly sponsored by the Petroleum Technology Development Fund (PTDF), NCDMB, Shell Petroleum Development Company (now Renaissance Africa Energy Limited), and Bayelsa State Government, the project is expected to be delivered within 30 months.In a presentation, the Chairman, Senate Committee on Local Content, Senator Joel Thomas, expressed concern that some indigenous companies have consistently flouted provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010, as relates to one per cent remittance to the Nigerian Content Development Fund (NCDF).
His counterpart in the House of Representatives, Hon. Boma Goodhead, commended the NCDMB for sustaining the PNC Forum and Exhibition over the years and for ably guiding industry drive toward attainment of objectives of the NOGICD Act.In his ministerial address, the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, said the theme of the PNC Forum, “Securing Investments, Strengthening Local Content, and Scaling Energy Production,” captures Nigeria’s national priorities that guide interventions by the Board and his Ministry.He emphasised that “Investment remains the lifeblood of the energy sector,” and that the Board and the Ministry are committed to providing stable policies, transparent processes, and market-driven incentives, to attract long-term capital. He assured that they would “continue strengthening local capacity across fabrication, engineering, technology services, manufacturing of components, and research and development.”For his part, the Minster of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, noted with satisfaction that a decade-long stagnation in the oil and gas industry was overcome with the enactment of the long-delayed Petroleum Industry Act (PIA), 2021, and Presidential Directives issued by the Administration of President Bola Ahmed Tinubu in March 2024.According to him, Nigeria has regained investor-confidence as signalled by the recent surge in FIDs and the increase of oil rigs from 14 to over 60, with 40 currently in active service. “Our investment climate now is globally competitive…our fiscal terms are globally competitive,” he added, while pointing out that “Our policies must be seen to be consistent” at all times.”He assured that the Federal Government is prepared to support Nigerian Content and the oil and gas industry, but that “things have to be done responsibly.”The Minister disclosed that “Nigeria has met all its obligations to the African Energy Bank,” and that its Abuja corporate headquarters is fully set with furnishing and all required operational equipment.
Also speaking, the Minister of State for Industry, Senator John Owan Enoh said Nigeria stands at the edge of a profound energy transition “not just a transition from fossil to cleaner fuels, but a transition from import dependence to production strength, from resource extraction to value creation, and from talking about local content to building true local a capacity across value chains.”
In a goodwill message, the Managing Director, BOI, Dr. Olasupo Olusi, said that the collaboration between the NCDMB and BOI marked a significant expansion of a longstanding relationship, while assuring that through the $100 million NCIF Equity Investment Fund, “the Bank of Industry will deploy equity and quasi-equity capital to support high-potential Nigerian companies,” to complement traditional debt financing and “strengthening access to the long-term risk capital required for scale, competitiveness, and value creation.”According to the BOI boss, “With a single obligor limit of $5 million, the Fund is designed to catalyze multiple high-impact investments while maintaining strong governance and prudent risk management.” In a goodwill message, the Special Adviser to the President on Energy, Mrs. Olu A. Verheijen, commended the NCDMB for sustaining the PNC Forum, which she said, accelerates change, drives competitiveness, and pushes the industry toward global standards.She pointed out that as stakeholders chart the path toward building “a resilient, competitive industrial base in Nigeria,” they must be intentional – not incidental – about in-country value addition, and that the historic transfer of onshore assets from international oil companies (IOCs) to indigenous operators “reflects decades of accumulated local capability, technical maturity, and domestic capital formation.” According to her, “We have living proof of what happens when policy, ambition, and capability align: from SHI-MCI’s fabrication yards to Waltersmith’s modular refining success; from the NLNG Train 7 Project to the Nigerian Oil and Gas Park Scheme, and the expansive growth of Nigerian-owned marine vessels.”
Politics
INEC, Security Agencies Intensify Coordination Ahead of 2026 Polls
By George Mgbeleke
The Independent National Electoral Commission (INEC) has called for heightened security coordination and vigilance as Nigeria enters a busy electoral season leading up to the 2027 General Election.
Speaking at the first regular meeting of the Inter-Agency Consultative Committee on Election Security (ICCES) for 2026, held on Friday at the INEC Conference Room in Abuja, the Chairman of INEC, Professor Joash Amupitan, said the rising tempo of electoral activities places increased responsibility on security agencies to ensure peaceful, credible and violence-free elections.
Professor Amupitan noted that 2026 would be particularly demanding, with Area Council elections, bye-elections and off-cycle governorship elections scheduled across several states. He stressed that effective planning, intelligence gathering, inter-agency collaboration and professional deployment of personnel were critical to securing the electoral process.
The INEC Chairman commended security agencies for their role in the successful conduct of the Anambra State off-cycle Governorship Election held on 8 November 2025, describing the peaceful outcome as a testament to their professionalism and dedication. He said the ability of the Commission to declare a winner on the first ballot, despite the state’s history of election-related security challenges, underscored the importance of proactive and coordinated security operations.
Ahead of the Federal Capital Territory (FCT) Area Council Elections scheduled for Saturday, 21 February 2026, Professor Amupitan disclosed that 1,680,315 registered voters are expected to vote across 2,822 polling units in the six Area Councils. He said INEC had concluded major preparations, including the delivery of non-sensitive materials, training of Electoral Officers and election security personnel, and commencement of ad-hoc staff training.
He added that a mock accreditation exercise would be conducted on Saturday, 7 February 2026, in 289 selected polling units across the FCT, while sensitive materials would be delivered under strict security arrangements. However, he cautioned that administrative readiness alone was not enough, urging security agencies to maintain constant communication and rapid response, especially in flashpoint areas.
The INEC Chairman also reminded the meeting that bye-elections would hold the same day in Ahoada East II and Khana II State Constituencies in Rivers State, as well as Kano Municipal and Ungogo State Constituencies in Kano State, further underscoring the need for heightened vigilance and adequate manpower deployment.
Looking ahead, Professor Amupitan said preparations were already underway for the Ekiti State Governorship Election on 20 June 2026 and the Osun State Governorship Election on 8 August 2026, stressing that early security planning was essential to preventing avoidable challenges.
He further disclosed that INEC would soon embark on a nationwide Voter Revalidation Exercise, alongside ongoing Continuous Voter Registration, noting that both exercises would require robust security support to protect facilities, personnel and citizens.
Delivering remarks on behalf of the National Security Adviser (NSA) and Co-Chair of ICCES, the Director of Internal Security at the Office of the National Security Adviser, Hassan Abdullahi, congratulated INEC and security agencies on the successful Anambra governorship election. He said the outcome reflected President Bola Ahmed Tinubu’s commitment to free, credible and violence-free elections.
Abdullahi assured that the Nigeria Police Force, as the lead agency for election security, in collaboration with other security and law enforcement agencies, was mobilising resources to secure the forthcoming FCT Area Council elections and bye-elections in Kano and Rivers States. He said adequate personnel would be deployed to polling units and high-risk areas, while political thugs, vote buyers and individuals with violent tendencies would be identified, restrained or prosecuted in accordance with the law.
He urged political parties, candidates and their supporters to conduct themselves peacefully, warning that any acts capable of undermining the electoral process would be dealt with decisively. He also called on the media, civil society organisations, community leaders and citizens to actively support peaceful elections as a shared national responsibility.
In his remarks, the Inspector-General of Police, Kayode Egbetokun, represented by the Commissioner of Police in charge of Elections, CP Abayomi Shogunle, reaffirmed the commitment of the Nigeria Police Force to massive deployment for all elections nationwide, assuring that adequate security would continue to be provided for INEC personnel, facilities and materials across the country.
The meeting ended with a renewed commitment by INEC and security agencies to sustained collaboration, vigilance and professionalism in securing Nigeria’s electoral process throughout the demanding 2026 electoral calendar.
Uncategorized
Governor Adeleke to Police: Unseal Amotekun to Contain Banditry, Kidnapping
By David Owei, Bayelsa
Governor Ademola Adeleke has warned against spillover of banditry and kidnapping from Kwara state into Osun, urging the police to immediately lift ban on Amotekun operations to combat the emerging threats.
Responding to another case of kidnapping at Ora Igbomina area, the Governor said the state is handicapped in its security response as the Amotekun service has remained sealed by the police with her top officers in detention without trial for several months.
The governor posited that the Amotekun service had developed the containment expertise especially in the rural border areas, submitting that the police’s shutting down of the service operations has created a big gap being exploited by bandits and criminals.
Governor Adeleke who called on the Inspector General of Police to charge those detained to court and unseal the service stated that further delay may endanger the rural population and open the state to further criminal infiltration.
“I am taking this matter to the public domain in view of another kidnapping at Ora Igbomina. Closing down Amotekun exposes Osun people to serious risks. I call on the Inspector General of Police to unseal Amotekun and allow its operatives to secure my people across the grassroots.
“Those officers in detention should be charged to court after several months of incarceration. Any further delay in the unsealing of Amotekun will further jeopardise the safety and security of our people”, the Governor was quoted as saying after a closed door security meeting.
Politics
2027 Poll: INEC ready with Election Timetable ….Says NASS passage of Electoral Amendment Act may shape adjustment …..Commission to embark on nationwide Voter Revalidation Exercise soon
By George Mgbeleke
Ahead of 2027 general elections,the Independent National Electoral Commission (INEC) said it has completed work on the timetable and schedule of activities for the 2027 General Election.
Making this declaration in Abuja on Wednesday,during an engagement with Civil Society Organisations (CSOs) INEC Chairman, Prof. Joash Amupitan, reaffirmed the Commission’s its readiness to conduct a credible poll despite delays in the amendment of the Electoral Act at the National Assembly.
According to him, the Commission has already forwarded its recommendations on the proposed Electoral Act amendments to lawmakers and is currently awaiting legislative action. He noted, however, that the timing of the amendment could influence certain aspects of the election schedule.
Prof. Amupitan explained that while the timetable has been finalized, some outlined activities may require adjustments depending on when the National Assembly concludes work on the amended law
He added,”Section 28(1) of the Electoral Act, 2022 empowers the Commission to issue a notice of election not later than 360 days before the date of the poll. While the National Assembly is currently working on amendments to the Electoral Act, the Commission has made its submission as required. We are mindful of the growing public interest and anticipation surrounding the release of the timetable and wish to assure political parties and the Nigerian public that the Timetable and Schedule of Activities for the 2027 General Election has been finalised in full compliance with the Constitution of the Federal Republic of Nigeria, 1999 (as amended), and the Electoral Act, 2022.
“Having said that, we seek your support in urging the National Assembly to expedite action on the ongoing amendment of the Electoral Act.”
He emphasized that INEC remains committed to delivering a transparent and credible election and will continue to operate within the provisions of the existing legal framework until any new amendments are passed and signed into law.
The development, he said, underscores the Commission’s proactive planning approach ahead of the 2027 electoral cycle
On Voter Revalidation, Amupitan noted that a credible register of voters remains the bedrock of free, fair and transparent elections.
“No electoral process can command public confidence without trust in the integrity of its voters’ register. Nigeria’s national register, first compiled ahead of the 2011 General Election, has since been continuously updated and deployed in the General Elections of 2011, 2015, 2019 and 2023, as well as in several off-cycle governorship and bye-elections. As of the 2023 General Election, the register stood at 93,469,008 voters.
“However, persistent challenges —including duplicate registrations, under-age registration, registration by non-citizens, deceased voters and incomplete or inaccurate records— continue to generate legitimate concerns. Such anomalies undermine public confidence in the electoral process.”
He noted in response the need to give the electorate the opportunity to participateat the 2027 election, the Commission will embark on a thorough clean-up with a view to further sanitising and strengthening the integrity of the register.
Accordingly, the Commission will be embarking on a nationwide Voter Revalidation Exercise ahead of the 2027 General Election.
On the Commission’s preparedness for the conduct of FCT area council elections in February 21st, Prof Amupitan disclosed that , “non-sensitive materials have been delivered and are being batched at each Area Council. Recruitment of Ad Hoc personnel have been concluded and their training began on 2nd February 2026.
“While Election Security Personnel have been trained, Supervising Presiding Officers (SPOs), Presiding Officers (POs) and Assistant Presiding Officers (APOs) are currently undergoing training. Furthermore, BVAS devices are being configured for accreditation and upload of results to the IReV portal, and sensitive materials will be delivered a day before the election. There will be a mock accreditation on Saturday, 7th February 2026, in 289 selected Polling Units (PUs) across the six Area Councils.
” The selected PUs will be made available on the Commission’s website. While INEC has deployed specialised resources and targeted sensitisation programmes to empower voters with disabilities and ensure inclusivity, 83 domestic and five foreign observers have been accredited for the polls.”
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