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NCDMB Unveils $100m Equity Investment Scheme as Nigerian Content Hits 61% in 2025

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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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HURIWA DEMANDS IMMEDIATE REMOVAL OF HANDCUFFS FROM Ufoma Joseph Immanuel

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By George Mgbeleke

The Human Rights Writers Association of Nigeria (HURIWA) says the Nigerian Correctional Service must immediately stop the alleged degrading treatment of detained businessman, Mr Ufoma Joseph Immanuel, who is currently receiving medical treatment in a Lagos hospital.
HURIWA condemns the reported decision by correctional officials to handcuff Immanuel’s legs to his hospital bed, describing the action as excessive, degrading and unacceptable, particularly against a detainee undergoing treatment.
HURIWA says it earlier intervened after the Correctional Service failed to promptly enforce a Federal High Court order directing that Immanuel be taken to a standard medical facility.
Following that intervention, the Correctional Service eventually moved Immanuel to hospital, where he has now spent one week receiving treatment.
HURIWA says it is deeply disturbed that the same correctional authorities are now allegedly restricting his movement, preventing family visits and placing him in physical restraints while he remains under medical care.
HURIWA investigator, Femi Ajala, visited the hospital and interviewed members of Immanuel’s family. The family confirmed that correctional officials have maintained a heavy security presence around the detainee.
HURIWA says the family initially accepted the security arrangements because their immediate priority was to ensure that Immanuel received the medical treatment ordered by the court.
HURIWA says the situation has now become unacceptable.
The association says Immanuel is reportedly being confined to his hospital room and prevented from moving around despite medical advice that he should be allowed appropriate movement during treatment.
HURIWA says it is particularly alarmed that his sister was reportedly informed that no visitors would be allowed to see him, while Immanuel was subsequently found handcuffed to his hospital bed.
HURIWA demands that the handcuffs be removed immediately.
HURIWA also demands that Immanuel be allowed reasonable movement in accordance with the advice of his doctors and that his immediate family members, particularly his sisters, be granted reasonable access to him.
HURIWA calls on the Comptroller-General of the Nigerian Correctional Service to immediately investigate the conduct of the officers assigned to the hospital and explain the legal and medical basis for handcuffing a hospitalised detainee to his bed.
HURIWA equally calls on the Minister of Interior to intervene immediately and ensure that the Correctional Service obeys the court order and respects Immanuel’s fundamental rights while he remains in custody.
HURIWA says the presence of armed correctional officers must not be allowed to undermine medical treatment, family contact or the dignity of a hospitalised detainee.
HURIWA further demands that Immanuel be allowed appropriate privacy during consultations with his doctors and that custodial officers do not unnecessarily interfere with the doctor-patient relationship.
HURIWA stresses that this intervention has nothing to do with determining Immanuel’s guilt or innocence in the criminal proceedings before the courts. The courts will determine that matter.
HURIWA says its concern is the conduct of the Correctional Service and the treatment of a detainee who is currently in hospital under a court-directed medical arrangement.
HURIWA says detention does not cancel human dignity.
HURIWA says custody does not authorise degrading treatment.
HURIWA says a hospital bed must not become a place of unnecessary restraint and punishment.
HURIWA therefore demands, with immediate effect:
Removal of the handcuffs from Immanuel’s hospital bed;
Freedom of movement consistent with medical advice;
Reasonable access for his immediate family members;
Respect for doctor-patient confidentiality; and
Full compliance with the relevant court order.
HURIWA warns that continued restrictions that have no clear lawful or medical justification would amount to a serious human rights concern requiring the intervention of relevant constitutional and human rights institutions.
HURIWA will continue to monitor the situation and hold the appropriate authorities accountable for the welfare and fundamental rights of Mr Ufoma Joseph Immanuel.

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Northern Senator Forum Mourns Senator Bello Mandiya

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Late Senator Bello Mandiya

By George Mgbeleke

The Northern Senators Forum has received with profound sadness the news of the passing of Distinguished Senator Bello Mandiya, former Senator representing Katsina South Senatorial District in the Ninth National Assembly, who died at the age of 62.

His death is a painful loss to his family, the people of Katsina State, the people of Katsina South and the nation at large. Senator Mandiya lived a life devoted to public service, and his passing has deprived Nigeria of a committed administrator and legislator whose contributions will remain part of the political history of Katsina State and the Ninth Senate.

Before his election to the Senate in 2019, he served as Chief of Staff to the former Governor of Katsina State, His Excellency Aminu Bello Masari, His years in Katsina politics reflected his qualities of loyalty, political maturity, patience and commitment to public service. He was a team player who understood the importance of consultation, dialogue and building consensus even when political interests differed.

As a member of the Ninth Senate, Senator Mandiya distinguished himself as a diligent and responsible legislator. He was a dependable colleague and bridge-builder who consistently promoted cooperation among senators and advocated policies that would strengthen national development. He believed strongly in the unity, stability and progress of Nigeria and approached public service with the understanding that political office must ultimately be used to improve the lives of the people.

The Northern Senators Forum extends its deepest condolences to Senator Mandiya’s immediate family, the government and people of Katsina State, the people of Katsina South, his political associates and his former colleagues in the National Assembly .We pray that Almighty Allah forgives his shortcomings, accepts his good deeds and grants him Aljannatul Firdaus, while granting his family and loved ones the strength to bear this irreparable loss.

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APC withdraws petition challenging Gov.Adeleke’s Victory

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Gov Ademola Adeleke of Osun state

By Our Correspondent

In dramatic twice the All Progressives Congress (APC) has filed an application seeking to withdraw the petition challenging the victory of Governor Ademola Adeleke.

The withdrawal came amid conflicting positions within the party’s legal team over whether the
APC had authorised the petition challenging the outcome of the August 15 governorship election.

Daily Champion reports that the APC, and the Peoples Democratic Party, PDP, challenged the outcome of the August 15, 2026, Osun Gubernatorial elections.

The APC’s petition, marked EPT/OS/GOV/01/2026, which was filed by its governorship candidate, Bola Oyebamiji, listed Adeleke, the Accord, and the Independent National Electoral Commission, INEC, as respondents in the petition challenging the election outcome.

Meanwhile, a Notice of Motion to Withdraw Petition dated September 8, 2026, filed by a counsel for APC, Barrister Oluseyi Oyagbile, before the Osun State Governorship Election Petition Tribunal, indicated the petitioners’ decision to discontinue the case.

The document seeks an order of the tribunal permitting the petitioners to withdraw the election petition.

However, an APC legal team led by Abiodun Layonu, SAN, had earlier disowned the petition, insisting that the party and its candidate had decided not to challenge Adeleke’s victory at the tribunal.

Also, the APC campaign council distanced itself from reports claiming that its governorship candidate, Oyebamiji (AMBO), filed a petition challenging the outcome of the August 15, 2026 governorship election at the Election Petition Tribunal.

A statement made available by the campaign spokesperson, said, “We state categorically that neither the All Progressives Congress ( APC) nor its governorship candidate, Asiwaju Munirudeen Bola Oyebamiji (AMBO) filed any petition at the tribunal challenging the outcome of the August 15 governorship election.

“The purported claim is therefore completely untrue and should be regarded as nothing more than a rumour being circulated by individuals seeking to mislead members of the public and create unnecessary tension.

“We urge members of the public, supporters of our great party and the media to discountenance the claim and refrain from giving credibility to unverified information designed to cause confusion.

“The APC and Asiwaju Munirudeen Bola Oyebamiji remain committed to lawful and democratic processes and will continue to act responsibly in the interest of peace, stability and the good people of Osun State.

“We urge the public to rely only on official statements from the APC and the Campaign Council on matters concerning the party, its candidate and the outcome of the August 15 governorship election.”

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