FG, NEXIM Sign $40m Women In Oil Sector Fund

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The Federal Government and the Nigerian Export-Import Bank have signed a $40m intervention fund for women in the oil and gas sector. Disclosed at the Diversity SWG conference, by the Minister of State for Petroleum Resources, Timipre Sylva. At the Nigerian Content Development and Monitoring Board-sponsored second edition of the Women in Oil and Gas Industry,

This year’s conference is themed, “Leveraging Opportunities in the Oil and Gas Industry”.

Sylva states that the fund was made available by the NCDMB-NEXIM Bank collaboration in 2021. In addition to the already existing $300m Nigerian Content Initiative Fund. Which is equally available to women and men who meet the criteria. The fund is being managed by the Bank of Industry.

In his keynote address, Executive Secretary, NCDMB, Simbi Wabote, said with the Petroleum Industry Act (PIA 2021) in place. One of the opportunity areas is for women to leverage governance inclusion in the administration of the various trusts and funds in the Act.

“We must commend all the various socio-political interventions and cultural adjustments that make this possible. Such that our female colleagues, our mothers, our wives, our daughters get treated with the respect they deserve in the society” he said.


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