FG Launches $100 Million Equity Investment Scheme to Boost Nigerian Oil Companies

The Federal Government has announced a $100 million equity investment scheme to strengthen the capacity of Nigerian companies operating in the oil and gas sector. The initiative aims to provide much-needed financial support to homegrown energy service companies, positioning them for rapid growth in a competitive industry.

The scheme was officially unveiled on Tuesday during the 2025 Practical Nigerian Content Forum held in Yenagoa, Bayelsa State, by Engr. Felix Ogbe, Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB). The announcement coincided with the signing of a Memorandum of Understanding (MoU) between NCDMB and the Bank of Industry (BOI), signaling a strong collaboration between the government and financial institutions.

Speaking at the event, Ogbe explained that the fund is designed to provide equity financing to high-growth indigenous energy service companies, while also diversifying the Nigerian Content Development Fund (NCDF)’s income sources. “This initiative strengthens local content development and positions Nigerian companies to compete effectively in the oil and gas sector,” he said.

In a related development, Ogbe revealed that the NCDMB has finalized the framework for the NCDF Compliance Certificate, which confirms companies’ compliance with the statutory one percent remittance obligation. The certificate will become mandatory from January 1, 2026, for securing key permits and approvals from the Board, ensuring that compliance drives business legitimacy and growth.

Industry observers have welcomed the initiative as a major boost for indigenous oil companies, offering both financial backing and regulatory clarity. By supporting local players, the Federal Government hopes to enhance domestic participation in the energy sector, create jobs, and increase Nigeria’s contribution to global oil and gas value chains.

source: vanguard