FG launches $100m equity investment scheme to support Nigerian oil companies

— NCDMB, BOI Sign Deal

By Obas Esiedesa, Abuja

The Federal Government has unveiled a $100 million equity investment scheme to strengthen the capacity of Nigerian companies in the oil and gas sector.

The initiative was announced on Tuesday at the 2025 Practical Nigerian Content Forum in Yenagoa, Bayelsa State, by the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Ogbe.

The announcement coincided with the signing of a Memorandum of Understanding (MoU) between the NCDMB and the Bank of Industry (BOI). Ogbe said the fund is designed to support high-growth indigenous energy service companies.

“The fund will provide equity financing to high-growth indigenous energy service companies while diversifying our NCDF’s income base and strengthening local content development,” he said.

Ogbe also revealed that the Board has finalised the framework for issuing the NCDF Compliance Certificate, which will confirm companies’ adherence to the statutory one percent remittance obligation. The certificate, effective from January 1, 2026, will be mandatory for obtaining key permits and approvals from the Board.

Speaking at the event, BOI Managing Director, Dr. Olasupo Olusi, described the scheme as a catalyst for high-impact investments across the sector.

“This collaboration marks a significant expansion of our longstanding relationship. Through the $100 million NCIF equity investment scheme, BOI will deploy equity and quasi-equity instruments to support high-potential Nigerian companies, complementing traditional debt financing and enhancing access to long-term risk capital needed for scale, competitiveness, and value creation,” he said.

Olusi added that the fund is structured to catalyse multiple high-impact investments while upholding strong governance and risk management standards, aligned with BOI’s proven equity investment model, which emphasises rigorous due diligence, disciplined review processes, and robust post-investment monitoring.

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