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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.”
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Dr. David Olofu Emerges ADC Senatorial Candidate for Benue South Ahead of 2027 Elections
By Our Correspondent
Former Benue State Commissioner for Finance, Dr. David Olofu, has emerged as the African Democratic Congress senatorial flagbearer for Benue South Senatorial District ahead of the 2027 general elections.
Dr. Olofu emerged as the consensus candidate of the party following primaries conducted across the nine local government areas of the district. His candidature was formally affirmed in Otukpo on Sunday.
Declaring the result, the ADC Returning Officer, Barr. Ogah Ekwu, said Dr. Olofu satisfied all constitutional requirements of the party and was unanimously endorsed across the zone.
“Dr. Olofu, having met all the requirements of the constitution of the party, is hereby returned as the sole candidate and duly elected ADC senatorial candidate for Benue South,” Ekwu stated.
In his acceptance remarks, Dr. Olofu described his emergence as a collective victory for the people of Benue South. He pledged to run an inclusive leadership that accommodates every interest and stakeholder in the district.
He stated that representation for the zone “shall no longer be a one-man show,” and announced plans to establish a “Benue South People’s Assembly” and a “Benue South People’s Council” to deepen consultation, unity, and collective decision-making.
The former commissioner said the protection of lives and communities would be his top priority if elected, noting that insecurity had continued to cripple the agricultural strength and economic potential of the district.
“As outlined in my blueprint, my first charge shall be the protection of our people. This will begin with restoring security to our communities and unlocking the full potential of our agricultural economy,” he said.
Dr. Olofu outlined his vision as building “a secure Benue South where lives and livelihoods are protected, a productive economy where agriculture and enterprise thrive, a strong educational system that prepares our children for the future, infrastructure that connects our communities and unlocks opportunities, and a government that is accountable, responsive, and people-centred.”
He assured party faithful that no bloc would be sidelined and stressed that unity, inclusion, and purposeful representation would define his senatorial ambition.
The declaration was witnessed by officials of the Independent National Electoral Commission, security agencies, and members of the press.
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About 48 inmates on death Row (IDR) Currently languishing in Minna Custodial Centres without Execution-Investigation reveals
By Uthman-Baba Naseer,Minna
A total of forty eight inmates on death row (IDR), are currently languishing in two of the Custodial Centres in Minna,in Niger State without being executed, investigations have revealed.
Out of the inmates, twenty eight of them are in Minna old Medium Security Custodial Centre among them three women while twenty others are in Minna new Medium Security Custodial Centre in Tunga.
The inmates,according to our findings, have been awaiting execution in the last fifteen years without knowing their fates.
It was gathered that their long stay awaiting execution was attributed to the refusal of state governors to sign their death warrant.
Our Correspondent was told that the refusal of state governors to sign death warrants since the Democratic administration,was due to condemnation from some civil society organizations (CSOs) and condemnation from some international communities such as Amnesty International.
Investigation conducted by this reporter in two of the facilities in Minna,revealed that the inmates are behind the incessant jail break across the Custodial centres in some part of the country as a result of their overstay on awaiting execution without knowing when the execution would be carried out.
In most of the Correctional Custodies, these inmates on death row, due to their over stay at the facilities, create unprecedented havoc leading to jailbreak or security breach in the facilities.
“ Inmates on death row (IDR), are seriously posing a security threat to correctional Custody across the country. Whenever we record any reported case of jailbreak in any correctional centre they are behind it.
“Their stays in our facilities without knowing their fate, pose a grave security threat to facilities. Some of them were just kept here for years. We have some of them that stayed for the past twelve to fifteen years on death row.
“Keeping these inmates in our facilities without the governors doing anything concerning their execution,we are at the receiving end of their elongated stay without knowing their fate”. a correctional officer in one of the Custodial Centre in Minna told our Correspondent.
However, eleven Inmates on death row from Gaba Community in Lavun Local Goverment Area who were sentenced to death by a Minna High Court number six sometimes in 2024, by Justice Maimuna Abubakar, were unconditionally granted padorned by Governor Mohammed Umar Bago,
They were found guilty for killing eight farmers from Amfani Community in Gaba District of Lavun Local Government over Communal clashes between the two Communities of Amfani and Gaba.
Our findings further revealed that since the inception of Democratic dispensation in 1999, no State governor signed a death warrant for the execution of the inmates in their respective states.
It was reliably gathered that the only governor that signed the death warrant since the present Democratic dispensation was Senator Adams Oshiomole when he was a
governor of Edo State in 2003.
Speaking in an interview with Journalists in his office in Minna,the Attorney General and Commissioner for Justice in Niger State,Alhaji Nasir Muazu Esq, explained that the refusal of the governor to sign the death warrant of the inmates was not deliberate.
He stated that the inmates have right of Appeal of their conviction from the High Court up to Appeal Court to Supreme Court.
“ I don’t want to believe that the governor deliberately refused to sign death warrant of inmates on death row as you called them. The reason is that they have right of Appeal their conviction from the High Court to Court of Appeal even up to Supreme Court.
“ They have to exhort their right of Appeal. If the Court of Appeal upheld their conviction, they can still go up to the Supreme Court to still challenge the decision of the Appeal Court. And they have many of such cases in the Apex court pending.
“So for you to say that the governors deliberately refused to sign death warrants of those inmates is not true” the Attorney General stated in an interview.
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2027: ADC Convention Deepens Party Crisis as Kachikwu Emerges Factional Presidential Candidate
By Our Correspondent
Despite the lingering division in African Democratic Congress (ADC), the emergence of Dumebi Kachikwu as the presidential candidate of the factional ADC, has further exposed deep divisions within the party, as competing structures continue to lay claim to leadership and legitimacy ahead of the 2027 general elections.
Kachikwu, who was declared flag bearer at a convention held in Abuja by a faction of the party, pledged to run an issue-driven campaign focused on economic recovery, national unity, and inclusive governance. However, the event underscored ongoing internal disputes over control of the party’s national structure.
Speaking at the gathering organized by his factional bloc, Kachikwu described his emergence as a mandate for “national rescue,” insisting that Nigeria’s worsening economic and security conditions demanded urgent reform-oriented leadership.
He said the ADC must reposition itself as a platform for ideas rather than identity politics, arguing that political competition should be based on policy alternatives rather than internal power struggles or personality clashes.
“For too long, politics has benefited only a few while the majority of Nigerians continue to suffer. That must change,” he said, calling for a leadership culture rooted in accountability and competence.
The factional candidate also urged greater inclusion of young people and women in governance and stressed the need for public officials to be held accountable through reliance on the same public systems used by ordinary Nigerians.
However, the convention itself highlighted the party’s unresolved leadership crisis, with rival camps within the ADC maintaining conflicting claims over the control of the party’s national structure and decision-making authority.
While Kachikwu’s bloc presented the convention as a legitimate expression of party democracy and internal renewal, other factions within the ADC have continued to dispute the legality and recognition of the gathering, insisting that parallel structures undermine party unity.
Amid the tensions, party figures aligned with the Kachikwu bloc framed the event as a turning point, arguing that the ADC remains a viable opposition platform despite internal disagreements and political fragmentation.
The Chairman of ADC Chairmen, Kingsley Ogga, speaking at the convention, described the gathering as a demonstration of resilience, insisting that loyal members had sustained the party through periods of internal turbulence.
He acknowledged the existence of divisions but urged reconciliation, saying the party must prioritize unity, discipline, and inclusion if it is to remain relevant in Nigeria’s political landscape.
Similarly, the faction’s National Chairman, Alhaji Abdulkadir Mohammed Bashir, warned against what he described as attempts by certain individuals to monopolize the party’s leadership structure, insisting that internal disputes must be resolved strictly within constitutional provisions.
He, however, praised Kachikwu’s conduct amid the crisis, describing him as a calm and intellectual figure who has avoided escalating tensions despite the deepening internal rift.
Bashir called for dialogue and reconciliation across all camps, stressing that no political platform can survive prolonged internal fragmentation ahead of a major national election.
As the ADC moves closer to the 2027 polls, the emergence of parallel claims to legitimacy continues to raise questions about whether the party can present a united front or whether it will head into the election cycle divided along factional lines.
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