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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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Power crisis: Expert backs Reps, urges forensic probe of 17-year spending
By AbdulGaneey Akanbi
As Nigerians continue to groan under epileptic power supply, security expert and global affairs analyst, Dr. Jackson Lekan Ojo, has applauded the House of Representatives for appointing Hon. Ibrahim Al-Mustapha Aliyu as chairman of the Ad-hoc Committee on Power Sector Reform and Expenditures.
Reacting to the inauguration of the committee on Monday in Abuja, Ojo said the panel represents a fresh opportunity to address long-standing challenges in the nation’s electricity sector.
He expressed confidence that Hon. Aliyu, who is representing Wurno/Rabah Federal Constituency of Sokoto State, would bring his wide experience to bear in managing the committee and tackling the problem of incessant blackouts and controversial expenditures.
Ojo noted that many Nigerians have lost confidence in previous investigative panels set up by the House due to their failure to produce meaningful outcomes over the past 17 years.
However, he said the current committee has inspired renewed hope, noting that it has been mandated to carry out a comprehensive forensic audit of Nigeria’s power sector including investigation into policies, expenditures and interventions implemented between 2007 and 2024.
Ojo described Hon. Aliyu as a disciplined, incorruptible and highly professional individual capable of delivering results that could transform the sector.
“For many years, Nigerians have become sceptical of probe panels established by the House of Representatives because they have failed to deliver tangible results. That disappointment has contributed to the continued challenges in the power sector,.
“I believe the 10th National Assembly has made the right decision by appointing Hon. Arch. Ibrahim Al-Mustapha Aliyu to chair this committee. From my findings, he is disciplined, transparent and possesses the capacity to lead a credible investigation that can bring about lasting reforms in the power sector,” he said.
Ojo said the committee’s assignment goes beyond another routine investigation, stressing that it presents an opportunity to identify systemic failures, promote accountability and lay the foundation for improved power generation and distribution nationwide.
The analyst urged Nigerians to support the committee’s work and remain hopeful that its findings would pave the way for meaningful reforms in power generation, transmission and distribution.
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Strengthening Global Press Freedom: IPC Executive Director Lanre Arogundade Joins IFEX Council*
By David Owei,Bayelsa
The International Press Centre (IPC), Lagos, welcomes the election of its Executive Director, Mr. Lanre Arogundade, to the 2026–2029 Council of the International Freedom of Expression Exchange (IFEX), describing it as an important milestone in the Centre’s continued engagement with global efforts to advance media freedom, freedom of expression and access to information.
Mr. Arogundade will serve on the 13-member IFEX Council, the network’s governing body responsible for setting strategic direction, providing institutional oversight and guiding the implementation of its programmes and priorities during the three-year term.
The newly elected Council comprises representatives of IFEX member organisations from Africa, Asia, Europe, the Middle East, Latin America and the Caribbean, reflecting the network’s commitment to inclusive governance. The members are *Sana Ali* (Pakistan Press Foundation); *Shireen Al-Khatib* (Palestinian Center for Development and Media Freedoms – MADA); *Lanre Arogundade* (International Press Centre); *Yara Bader* (Syrian Center for Media and Free Expression); *Layal Bahnam* (Maharat Foundation); *Nighat Dad* (Digital Rights Foundation); *Ashnah Kalemera* (Collaboration on International ICT Policy for East and Southern Africa – CIPESA); *Leticia Kleim* (Brazilian Association for Investigative Journalism – ABRAJI); *Ruth Kronenberg* (Free Press Unlimited); *Ayaa Irene Lokang* (Association for Media and Development in South Sudan – AMDISS); *Kiran Maharaj* (Trinidad and Tobago Publishers and Broadcasters Association); *Babette Ngene* (Electronic Frontier Foundation); and *Ahmad Quraishi* (Afghanistan Journalists Center).
With more than three decades of experience in journalism, media development, journalists’ safety, democratic governance and rights-based advocacy, Mr. Arogundade brings valuable experience to the Council. His background will support IFEX’s strategic priorities and collective efforts to advance freedom of expression, strengthen media freedom and promote solutions to challenges affecting independent journalism, civic space and access to information during the term.
Speaking on the appointment, Mr. Arogundade, said: “I am honoured by the confidence of IFEX members and grateful for the opportunity to serve on the Council. At a time when the ecosystems that sustain media freedom, digital rights and access to information are under increasing pressure, networks such as IFEX remain vital platforms for solidarity, knowledge exchange and collective action. I look forward to working with fellow Council members and supporting IFEX members worldwide in strengthening efforts that uphold freedom of expression, advance independent journalism and respond to shared challenges across Nigeria, Africa and the wider global media landscape.”
IPC is one of more than 100 independent civil society organisations in the IFEX network, a global alliance dedicated to defending and promoting freedom of expression and access to information as fundamental human rights.
Over the years, IPC has worked with national, regional and international partners to promote ethical journalism, strengthen media professionalism, enhance journalists’ safety, support electoral integrity, advance digital rights and improve public access to information. Through research, policy engagement, capacity development and advocacy, the Centre has contributed to strengthening democratic governance and media systems across Africa. Mr. Arogundade’s election builds on this experience and provides an opportunity to contribute to IFEX’s strategic direction and collective efforts to develop practical responses to challenges affecting freedom of expression, media freedom and access to information, including those faced in Nigeria and other African contexts.
Established in 1992, IFEX is a global network of independent civil society organisations that advances freedom of expression through advocacy, research, policy engagement, emergency assistance and international solidarity. The network also serves on the Media Freedom Coalition’s Consultative Network and the Advisory Network of the Freedom Online Coalition, contributing to international policy discussions on media freedom, digital rights and civic space.
IPC congratulates the incoming Council and looks forward to supporting its efforts to strengthen the network’s impact in protecting freedom of expression and defending independent journalism worldwide.
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An In-Depth Analysis of Nigeria’s Legislature, Democratic Governance New Book,Emerges
By Correspondent
A new book “The Nigerian Legislature: Understanding its impact on democratic governance and national development” has been described as a landmark scholarly contribution that provides a comprehensive examination of the country’s parliamentary evolution, constitutional responsibilities, and the role of the National Assembly in strengthening democratic governance.
The publication by Dr. Ezrel Tabiowo offers an extensive analysis of legislative practice in Nigeria, with particular emphasis on the budget process, the consideration of executive requests for domestic and external borrowing, and the exercise of legislative oversight over the executive arm of government.
The book reviewer, Nigerian Ambassador to Germany, Senator Ita Enang said “the book chronicles how these constitutional responsibilities were discharged during the leadership of former Senate Presidents Evans Enwerem, Dr. Chuba Okadigbo and Anyim Pius Anyim, as well as former Speakers of the House of Representatives, including Salisu Buhari, Ghali Umar Na’Abba, Aminu Bello Masari, Patricia Etteh and Dimeji Bankole, spanning the Fourth, Fifth and Sixth National Assemblies.
He said the book also examines the legislature’s scrutiny of executive nominations for ministerial, ambassadorial, constitutional and other strategic appointments, stressing that Senate confirmation is a constitutional duty requiring diligence, objectivity and independent judgment rather than a ceremonial exercise.
The book further explores the relationship between the legislature and the media, explaining how public perception of parliamentary activities has often been shaped by media reports. It provides context for several legislative decisions that attracted public criticism and seeks to deepen understanding of parliamentary procedures, strengthen citizens’ confidence in the legislature and promote informed engagement by civil society organisations, advocacy groups and the electorate.
The publication pays tribute to former Senate President Ahmed Lawan for his mentorship and long-standing commitment to strengthening Nigeria’s democratic institutions during his 27 years of uninterrupted service in the National Assembly. It also acknowledges the National Assembly for providing the institutional environment that enabled the author to document key legislative developments over many years.
Enang described the book as the product of extensive research, which combines constitutional and statutory analysis, comparative legislative studies and the author’s years of experience as a parliamentary correspondent and media adviser within the National Assembly.
Structured to provide both historical and contemporary perspectives, the book traces the evolution of legislative institutions from pre-colonial governance traditions through the colonial era, the Westminster parliamentary system of the First Republic, periods of military rule and the emergence of the current presidential system. It argues that these historical developments continue to shape the character, political culture and operational challenges of Nigeria’s legislature.
Dedicated chapters examine legislative oversight and accountability mechanisms, assessing the effectiveness of oversight powers, identifying institutional weaknesses and presenting case studies of major legislative investigations.
Another section focuses on economic governance, offering a detailed analysis of the appropriation process, constituency projects, fiscal federalism and the legislature’s contributions to policy development in key sectors such as education and infrastructure.
The book also discusses challenges confronting the National Assembly, including institutional capacity gaps, high legislative turnover, ethical concerns, executive-legislative relations, judicial interventions and the broader socio-economic environment. It further assesses the impact of globalisation, digital technology and social media on legislative practice and public engagement.
Overall, the publication presents a balanced assessment of the achievements and shortcomings of Nigeria’s legislature while proposing reforms aimed at strengthening democratic institutions, enhancing accountability and improving legislative effectiveness in the years ahead, Ambassador Ita Enang concluded.
The Director General of National Institute for Legislative and Democratic Studies, Prof. Abubakar Sulaiman said he was not in doubt that this publication will add to the body of knowledge especially as it affects the workings of the legislature in Nigeria, especially given the background of the author and his years of experience working in the legislative space.
“I believe that this book will not only be a very valuable contribution to the literature on the Nigerian legislature, it will also be great resource for not only those who work in the legislative space, but those who desire an indepth knowledge on democracy and governance as well”.
He recommended the book for all students of NILDS and al the departments of the institute.
Clerk to the National Assembly (CNA), Barrister Kamorudeen Ogunlana expressed gratitude to the author, Dr. Ezrel Tabiowo, Media Adviser to the President of the 9th Senate, adding that the book will go a long way to correct some of the misconceptions of the public about the workings of the National Assembly.
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