NCDMB unveils bold ‘Nigeria First’ push, revamps N50bn fund to empower community contractors
The Nigerian Content Development and Monitoring Board (NCDMB) says it will fully champion the Federal Government’s newly introduced “Nigeria First” policy, a strategic directive aimed at deepening local production, boosting indigenous capacity and reducing reliance on imported goods and services in the oil and gas sector.
This was contained in a statement signed by the General Manager, Corporate Communications, Dr Obinna Ezeobi, and made available to journalists on Monday at the opening of the NOG Energy Week in Abuja.
The statement reads partly: “For Nigeria, energy sufficiency goes beyond availability, it is about building resilience, ensuring sustainability, and protecting our sovereignty. That is why we say local content is not just a policy, it is a strategic imperative.
“All goods or services that are produced and/or available locally will not be procured from foreign sources unless there is a clear and justifiable reason.
“This aligns with Section 3(1) of the NOGICD Act, which mandates first consideration for Nigerian made goods and services provided they meet industry standards.
“The Nigeria First policy is a bold commitment to national pride, industrial competence, and long-term economic sustainability. At the NCDMB, we are prepared to lead the charge in making this vision a reality.”
At the event, the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, said the policy represents a firm reinforcement of the Board’s core mandate. He explained that achieving energy sufficiency will depend on strengthening domestic capabilities across exploration, production, processing, fabrication, manufacturing and services.
He stressed that prioritising Nigerian capacity would retain value in-country, reduce supply-chain shocks, create jobs and expand technology transfer. Ogbe also referenced existing policy foundations including the NOGICD Act, Executive Orders 001 and 005, and the Presidential Directives on Local Content issued in 2023 under President Bola Ahmed Tinubu’s 8-Point Agenda.
As part of the implementation plan, NCDMB will develop a dedicated Nigeria First Procurement Policy, integrate it into internal operations, and apply it rigorously in reviews of Nigerian Content Plans, Compliance Certifications and Authorisation Certificates. The Board will also commission two studies to assess service provider capacity and map locally manufactured consumables in the industry.
The Board also announced a major restructuring of its N50bn Community Contractors Financing Scheme—a key component of the Nigerian Content Intervention Fund—designed to support verified contractors from oil-producing host communities.
During a panel session on community participation, Dr Ezeobi said the fund had lagged behind other intervention products since 2018 but is now undergoing an overhaul due to the Executive Secretary’s renewed focus on grassroots empowerment.
General Manager of the Nigerian Content Development Fund, Ms Fatima Mohammed, said the revamped fund now offers up to ₦100 million borrowing limit at single-digit interest, simplified collateral requirements and decentralised disbursement through Performing Financial Institutions (PFIs).
She noted that the upgrade followed an internal review which showed the centralised structure had stifled participation. Extensive sensitisation and first-phase disbursements are expected in the coming months.
The Bank of Industry’s Head of Oil and Gas, Mr Gabriel Yemidale, confirmed that with FCMB and other PFIs onboard, alignment has now been restored. He said BOI will ensure monthly loan performance reports and quarterly monitoring visits to beneficiaries.
FCMB’s Head of SME Assets, Oluremi Agboola, said the bank is reviewing its rates to make the scheme more affordable, adding that financial literacy, monitoring and business support would be provided through the FCMB Business Zone. Eligibility is restricted to firms with at least ₦500,000 annual turnover, ensuring true grassroots impact.
A panel member and Director of Strategy, Trexim Holdings, Mr Olumide Odewole, stressed the importance of governance, sustainability and quality delivery in building a resilient supply chain for the oil and gas industry.
The revamped scheme, according to the statement, underscores NCDMB’s determination to close funding gaps and ensure host communities become active economic participants rather than passive observers in Nigeria’s energy sector.