Nigeria’s oil and gas content regulator has unveiled a $100 million equity investment fund aimed at strengthening indigenous participation in the country’s energy sector, alongside plans to tighten compliance requirements beginning next year, Reuters reported.
Speaking on Tuesday at the Practical Nigerian Content Forum, Felix Ogbe, executive secretary of the Nigerian Content Development and Monitoring Board (NCDMB), said the fund was launched in partnership with the Bank of Industry to provide equity financing for high-growth local energy service companies.
He also announced that from January 1, 2026, the board will require a compliance certificate confirming companies’ adherence to the mandatory 1% remittance obligation, adding that the certificate will become mandatory for all permits and regulatory approvals.
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Ogbe reported that Nigerian content levels across monitored projects increased to 61% from 56% last year, citing major developments including NLNG Train 7, the NNPC’s AKK gas pipeline project, and TotalEnergies’ Ubeta gas development.
He added that additional initiatives are planned, including a technology challenge slated for early 2026, the expansion of oilfield skills training programs, and stronger measures to curb fraudulent applications for local content certificates.
“The work before us is significant, but so is the opportunity,” Ogbe said. “Nigerian content is key to national development and industrialization.”
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Image Credit: CNBC Africa
