The Nigerian Content Development and Monitoring Board (NCDMB) on Wednesday in Port Harcourt, Rivers State, brought together chief executives of indigenous oil and gas companies, host community contractors and vendors, alongside key personnel of three financial institutions, for appraisal of funding and regulatory mechanisms instituted by the Board.
Christened “NCDMB Stakeholders Sensitization and Engagement Forum,” the event was designed to clarify processes for Nigerian Content Development Fund (NCDF) 1% Compliance Certification issuance, demonstrate new features of the upgraded 1% NCDF payment portal, provide guidance on the revised Community Contractors Scheme, and also serve as customers’ engagement forum with participation by Bank of Industry (BOI) and Nigerian Export-Import (NEXIM) Bank.
In an opening address, the Executive Secretary, Engr. Felix Omatsola Ogbe, explained that the Forum would address critical issues and provide greater clarity on the operations and benefits of funding windows created by the Board to boost the capabilities of indigenous oil and gas companies and ramp up in-country value addition.
He said the Board has been “steadfast in promoting and enforcing compliance with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010,” and that compliance has to be practical and mutually beneficial to all stakeholders in the sector.
He disclosed that the Board was introducing a Nigerian Content Fund Clearance Certificate (NCFCC), “a verifiable and transparent instrument” that would serve as tangible proof of compliance by remitting companies with Section 104 of the aforesaid Act, which stipulates one per cent deduction from the value of every contract awarded in the upstream subsector.
Section 104 of the NOGICD) Act mandates all operators (international oil companies (IOCs) and indigenous producing companies), contractors, subcontractors, alliance partners, and all other entities engaged in execution of upstream projects or operations to pay the said percentage, which is deployed for the development of Nigerian Content in the oil and gas industry.
The Executive Secretary also dwelt on the disbursement of the Nigerian Content Intervention Fund (NCI Fund). Represented by the Director, Finance and Personnel Management, Mr. Ossa Uchendu, he stated that NCDMB recognizes the pivotal role of financing in deepening local content in the oil and gas sector. Financial partners of the NCDMB, namely, BOI, NEXIM, and FCMB, were on hand to explain the different funding windows available to support indigenous businesses in the industry.
He urged the indigenous companies, contractors and vendors to ask questions, share experiences and get deeper insights into how the financial opportunities can support and expand their business operations. “Share your perspectives candidly and join us in co-creating practical solutions that will sustain and advance Nigerian Content development for the benefit of our nation and the industry,” he charged the stakeholders.
In a goodwill message, the Executive Director, Large Enterprises, of the Bank of Industry (BoI), Dr. Ifeoma Uzokpala, said the stakeholder forum reflected a “shared commitment to strengthen the Nigerian oil and gas value chain by not only providing financing but also deepening engagement with our customers and partners.”
According to her, “As fund managers, our goal is to ensure that the oil and gas fund [Nigerian Content Development Fund, NCDF] continues to deliver on its mandate, enabling Nigerian companies to participate meaningfully in the sector.” She pointed out that “access to finance must go hand-in-hand with responsiveness, transparency and service excellence.”
On behalf of BoI, she commended the NCDMB for its vision and steadfast partnership with her bank and NEXIM, and for collaboration in managing the vital Fund. “Together we are building a more competitive, inclusive and sustainable oil and gas ecosystem,” she declared.
In another message, the Head, Specialised Business, of NEXIM, Mr. Muhammed Awami, said “NEXIM recognizes the pivotal role that NCDMB continues to play in driving local content development, building indigenous capacity, and promoting value addition within Nigeria’s oil and gas sector and in linkages to other industries.”
He expressed appreciation for the synergy between NCDMB and his bank, noting, “Together we can unlock new opportunities for Nigerian businesses, especially in the areas such as export financing, manufacturing, logistics, and technology-driven services.”
He said NEXIM Bank remains committed to working closely with the NCDMB “to facilitate access to finance, to derisk projects…and promote projects that align with the Nigerian Content 10-Year Strategic Road Map and the broader objectives of the African Continental Free Trade Agreement.” He commended the Board for its many transformative initiatives.
During the panel sessions and question and answer segment, some chief executives of indigenous companies voiced concerns about the unwillingness of commercial banks to give bank guarantees for BoI loans. Others alleged that some major contractors in the oil and gas industry never keep to contractual obligations regarding payment for services provided by subcontractors. They pleaded with the NCDMB to assist them compel such defaulting contractors to fulfil their obligations.
In response to these allegations, the panelists were unanimous in calling for the inclusion of representatives of banks in subsequent stakeholder engagements of this nature. A representative of the NCDMB on the panel, Engr. Jeff Tuatongha, General Manager, Monitoring and Evaluation, Upstream, said the Board does not have statutory powers to force such companies to act responsibly but that if it receives a report of such breaches it could try some mediatory role.
Presentations made at the event include “Understanding the NCDMB Compliance Certificate System” by Mr. Emmanuel Paulker Umeme, Supervisor, Process Improvement, of NCDMB; “Navigating the Upgraded NCDF Payment Portal” by a representative of Vascon Solution; “The Revised Community Contractors Finance Scheme” by Mr. Akintomide James, Head, Midstream and Dealers, of FCMB, and “NEXIM Oil and Gas Services Support Facilities” by Mr. Mohammed Z. Awami, Head, Specialized Business, of NEXIM.
The unveiling of the Compliance Certificate was performed by Mr. Ossa Uchendu, Director, Finance and Personnel Management, of the NCDMB.
In closing remarks, Mrs. Fateema Mohammed, General Manager of NCDF, observed that what had taken place was more than an event, that it had become a conversation.
She stated that the goal of the NCDMB has become more than mere regulation but to enable businesses in the sector. She disclosed that the next edition of the NCDMB Stakeholders Sensitization and Engagement Forum would hold in Warri, Delta State, at a date to be announced, and that the NCFCC would come into effect on January 1, 2026.
Other key officials of the NCDMB at the one-day event included Engr. Bashir Ahmed, Supervisor, Projects Certification and Authorization Directorate (PCAD), Engr. Mustapha Abdullahi, Supervisor, Capacity Building Directorate, NCDMB, and Mr. Teleola Oyeleke, Supervisor, Corporate Communications Division (CCD).