PNC 2025: NCDMB lists rapid progress as Nigerian Content hits 61%
Sopuruchi Onwuka
The Nigerian Content Development and Monitoring Board (NCDMB) has at the 14th Practical Nigerian Content Forum hosted in Yenegoa, Bayelsa State, announced a new wave of achievements aimed at boosting local capacity across the oil and gas industry.
Executive Secretary Engr. Felix Omatsola Ogbe unveiled the updates declared the launch of a $100 million Equity Investment Scheme and confirmed 61 percent Nigerian Content level as of the third quarter of 2025.
He said the Equity Investment Scheme, created under the Nigerian Content Intervention Fund (NCIF), would provide equity financing for fast-growing indigenous service companies and broaden the income base of the Nigerian Content Development Fund.
An MOU between NCDMB and the Bank of Industry will guide the management of the new fund.
The Bank of Industry highlighted that the new $100 million equity fund will supply long-term risk capital with a single obligor limit of $5 million, while government officials stressed the need for consistent policies to sustain investor confidence.
Ogbe also confirmed that preparations are underway to admit a fresh batch of Project 100 Companies, following the successful rollout of interventions for the first group launched in 2019. The exit plan for the pioneer cohort is scheduled for April 2026.
In listing more initiatives lined up for the industry, he declared that the NCDMB Technology Challenge would debut in the first quarter of 2026, followed by a Research and Development Fair in the second quarter.
The Board, according to him, also plans to review its seven existing guidelines within the same period. He explained that a new NCDF Compliance Certificate would take effect on January 1, 2026, to serve as proof that companies have met their one percent remittance obligations. The certificate, according to the plan, will be required for key industry approvals.
Other recent accomplishments by the board, Oge said, include expanded access to the Community Contractors Scheme which recorded over 94 disbursements in 2025.
The Nigerian Content Academy, he counted, now operates as a full division and has delivered seven lecture series focused on major industry issues.
To address the proficiency gaps in the face of rising activity in the sector, Engr Ogbe stated that the Board has launched an Oil and Gas Field Readiness Training Programme covering the top ten high-demand skills. The goal, he explained, is to ensure that indigenous talent is ready as major projects move into execution following a surge in final investment decisions and more than 20 approved Field Development Plans.
As part of accelerated moves to complete the multibillion-Naira Oloibiri Museum and Research Centre which has moved into full construction phase, Engr Ogbe stated that NCDMB has entered a deal with Julius Berger. He said the contract was signed in December 2024 mobilized in July 2025.
The project, jointly sponsored by PTDF, NCDMB, Renaissance Africa Energy, and the Bayelsa State Government, is scheduled for delivery within 30 months.
Stakeholders at the forum, including National Assembly members, ministers, and industry leaders, commended the NCDMB on progress it has recorded in the past few years and reaffirmed their support for stronger local content.
The event underscored a broader national shift toward deeper local capacity, stronger value creation, and a more competitive energy sector.
