The NCIF equity investment scheme advanced on Thursday as the Bank of Industry (BoI) and the Nigerian Content Development and Monitoring Board (NCDMB) signed a $100 million agreement to expand financing support for indigenous companies in Nigeria’s oil and gas sector.
The partners said the NCIF equity investment scheme will complement traditional debt options by providing long-term risk capital needed to scale local firms, strengthen competitiveness and accelerate value creation across energy services.
Speaking at the Practical Nigeria Content forum in Yenagoa, Bayelsa State, BoI Managing Director Dr. Olasupo Olusi said the NCIF equity investment scheme represents a major upgrade of the institutions’ long-standing collaboration in promoting Nigerian content development.
Olusi praised NCDMB Executive Secretary Felix Omatsola Ogbe for his leadership, noting that the NCIF equity investment scheme will enable BoI to deploy equity and quasi-equity funding to high-potential indigenous companies seeking expansion capital.
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He stated that the structure of the NCIF equity investment scheme is anchored on BoI’s rigorous due diligence processes, disciplined investment reviews and strict post-investment monitoring designed to secure both commercial returns and national development outcomes.
According to Olusi, the NCIF equity investment scheme fully aligns with NCDMB’s 10-year roadmap and Nigeria’s wider industrial development goals under the administration of President Bola Ahmed Tinubu.
He added that the bank remains committed to supporting local firms through the NCIF equity investment scheme, ensuring that indigenous enterprises become globally competitive while driving job creation, manufacturing growth and technology transfer.
In his remarks, NCDMB Executive Secretary Omatsola Ogbe said the NCIF equity investment scheme expands the board’s financing portfolio by offering equity support to high-growth energy service companies while strengthening the Nigerian Content Development Fund (NCDF).
Ogbe noted that the NCIF equity investment scheme rollout coincides with the completion of the NCDF Compliance Certificate framework, which will verify companies’ fulfilment of the mandatory 1% remittance requirement.
He added that the certificate — linked to the NCIF equity investment scheme — will take effect on 1 January 2026 and will be required to access key approvals and permits issued by the NCDMB.
