The Federal Government has launched a US$100 million Equity Investment Scheme to support local oil and gas companies, aiming to boost indigenous participation in the sector.

The fund, managed by the Nigerian Content Development and Monitoring Board (NCDMB) in partnership with the Bank of Industry (BOI), will provide equity financing to high-growth Nigerian firms along the oil and gas value chain. This complements existing debt financing and expands the Nigerian Content Intervention Fund’s capacity.

From January 2026, firms will also need an NCDF Compliance Certificate, proving they meet the 1% remittance obligation to access key permits.

The scheme comes as local content in monitored petroleum projects rises to 61%, with total NCDMB intervention funding now at $550 million. Officials hope the fund will help local companies scale, become competitive, and create more jobs.

The big question remains: Will this $100 million fund be enough to transform Nigeria’s local oil and gas industry? Visit www.jocomms.com for more news.