By Ali Elias
In a fresh move to strengthen indigenous participation in the nation’s oil and gas sector, the Nigerian Content Development and Monitoring Board (NCDMB) has unveiled key reforms aimed at enhancing regulatory compliance and improving access to funding for local operators.
Delivering the keynote on behalf of the Executive Secretary, Engr. Felix Omatsola Ogbe, FNSE, at a sensitization workshop held on Tuesday, July 8, at the Oriental Hotel, Lekki, Lagos, Mr. Mubarak Zubair, General Manager of Finance and Accounts, described the initiative as “a reaffirmation of the Board’s commitment to building systems that work not only for today but for the future of Nigerian Content.”
The workshop attracted key NCDMB management staff including Eneh Etteh, Bisi Okunola, Joseph Adebayo, and retired Director of Planning, Research and Statistics, Isaac Yallah. Also in attendance were representatives of NEXIM Bank, Bank of Industry (BOI), First City Monument Bank (FCMB), and several technical consultants.
Central to the workshop were four key instruments: the Compliance Certificate System, the upgraded Nigerian Content Development Fund (NCDF) payment portal, the revised Community Contractors Finance Scheme, and updates on the Nigerian Content Intervention (NCI) Fund.
“The Compliance Certificate System was developed to ensure Nigerian Content requirements are met in all oil and gas projects,” Zubair noted. “It provides companies with a standard to demonstrate conformity, while enabling the Board to uphold strong regulatory oversight.”
He explained that the upgraded NCDF payment portal was another strategic milestone. “This enhancement will simplify remittance processes, improve user experience, and allow real-time compliance tracking,” he said.
On funding access, Zubair highlighted the revised Community Contractors Finance Scheme, redesigned in partnership with FCMB to remove barriers and improve participation for host community contractors. “This initiative is directly aligned with our strategic objective of enabling shared prosperity and inclusive growth in the Nigerian oil and gas ecosystem,” he said.
Providing updates on the $400 million NCI Fund, jointly managed by BOI and NEXIM, the Executive Secretary’s remarks noted that over 130 companies have already benefited across various product lines. “Work is ongoing to ensure even more indigenous companies in the industry have access to the fund,” he added.
Speaking during the workshop, a consultant working with NCDMB explained that part of the goal of the sensitization was to gather practical feedback from operators using the systems. “This feedback loop is essential to ensure that we’re not just implementing technology, but building tools that truly support the needs of Nigerian businesses now and into the future,” he said.
The workshop is the first in a series, with similar engagements planned for Port Harcourt and Warri in the coming weeks. The Board says these sessions are designed to deepen understanding of its compliance and finance platforms across all operational hubs of Nigeria’s oil and gas industry.
Zubair, in closing, expressed appreciation to the Board’s institutional partners including Vascon Solutions, FCMB, BOI, and NEXIM Bank. “Together,” he said, “we are creating a more inclusive, transparent, and competitive environment for Nigerian Content to thrive.”