* Begins activation of industrial parks

* Nigerian Content level hits 61%

Sopuruchi Onwuka

The Nigerian Content Development and Monitoring Board (NCDMB) has declared increased linkage between the huge budget upstream petroleum industry and the domestic economy, saying over 61 percent of the operating expenses is absorbed into the local economy.

“At this point, I am happy to announce that Nigerian Content levels in the projects monitored by the board has increased from 56% to 61%,” he declared.

Executive Secretary, Engr Felix Ogbe, also stated at the ongoing 2025 Practical Nigerian Content (PNC) in Yenegoa, Bayelsa State, that NCDMB is deploying additional measures to further capture more values from the industry through indigenous participation, activity uptick and job domestication.

To enhance capacity of indigenous players for participation, he said the board has concluded arrangements to establish a $100 million Equity Investment Scheme to enable high growth indigenous companies overcome funding hurdles.

Oracle Intelligence reports that in the NCDMB used the proof of concept stage if the equity investment scheme to achieve the dual purpose of assisting high performance indigenous companies to drive commercially viable projects through financing quagmire while repairing bountiful dividends and sundry returns from invested funds.

Most of the equity investments by the board, including the Kwale Gas Gathering (KGG) program, have spawned thriving enterprises that continue to grow organically.

Engr Ogbe stated that the novel Equity Investment Scheme driven in partnership with the Bank of Industry (NOI) is a new product “in our Nigerian Content Intervention Fund” (NCF).

He said the scheme is part of “our efforts to provide affordable finance for local players in the industry.”

“This finance scheme will provide equity financing to high-growth indigenous energy service companies while diversifying our NCDF’s income base and strengthening local content development,” Engr Ogbe declared.

He lamented the poor performance of some operating companies on NCDF contribution commitment, warning that the NCDF Compliance Certificate would as from January 1 become a requirement for securing approval from the board.

On empowerment of community contractors, Engr Ogbe stated that access to their funding scheme to 94 percent in 2025.

The successful Project 100 initiative launched by the board, Engr Ogbe told delegates that the existing cohort would be disbanded by April 2026 to enable onboarding of a new cohort.

“I am happy to announce that following the successful implementation of approved interventions, we will host an exit plan by April 2026 and onboard a new set of Project 100 companies,” he told delegates.

On activation of completed Nigerian Oil and Gas Parks Scheme (NOGAPS), Engr Ogbe stated that NCDMB would usher in commencement of operations at Odukpani and Emeyal 1 Parks.

He also updated on the board’s Nigerian Content Academy, saying that some seven lectures on key industry issues have been delivered.

He also counted the Oloibiri Museum and Research Center (OMRC) as one of the key projects currently on traction for completion before 2030. The project which was awarded to Julius Berger in December 2024 has 30 months gestation.

He stated that the board’s Back-to-Creek initiative conceived to provide STEM education for pupils in rural Niger Delta communities has secured the backing of the governments of Niger Delta states on renovation of primary schools and equipping with modern STEM and ICT instructional facilities.

“Our interventions to enhance educational quality must continue,” he said.

For greater stakeholders participation in the activities and programs of the agency, the NCDMB hosted a town hall engagement at 2025 PNC to harness and address stakeholders’ concerns.