KEY POINTS
- Local content intervention funds reached 132 Nigerian companies.
- Indigenous participation rose to 61 percent this year.
- Local content intervention funds support assets, jobs and ownership.
A total of N51.785 billion ($33.7 million) and $359.653 million from local content intervention funds have gone to at least 132 Nigerian businesses.
This demonstrates that there is a persistent drive to get more Nigerians interested in the oil and gas industry in their own country. The Nigerian Content Development and Monitoring Board (NCDMB) is in charge of the money. It comes from a number of sources, including the $350 million Nigerian Content Intervention Fund, the $50 million Working Capital Fund funded by NEXIM Bank, and the Women in Oil and Gas Fund. The funding aims to help Nigerian businesses strengthen their balance sheets and play a bigger role across the energy value chain.
Fresh data released by the Board on Monday shows a broad spread of beneficiaries, ranging from manufacturers to contractors and asset owners, reflecting a strategy focused on long-term capacity rather than short-term contracts.
Local content intervention funds boost capacity
According to the NCDMB, three manufacturing firms received N7.561 billion, while 38 companies accessed N22.144 billion and $205.666 million for asset acquisition. Another 10 firms obtained N2.232 billion and $24.728 million to finance contracts, and 25 companies secured N15.98 billion and $115.998 million for loan refinancing.
Speaking at a media stakeholders’ workshop in Abuja, NCDMB Director of Corporate Services Abdulmalik Halilu said the impact of the local content intervention funds is already visible. He noted that Nigerian participation in the oil and gas sector has risen to 61 percent this year, from 44 percent three years ago.
“The NLNG Train-7 project alone engaged about 8,000 Nigerians,” Halilu said, citing it as evidence that local content policies translate into jobs and skills development rather than paper compliance.
Local content intervention funds reshape industry
Halilu stressed that local content is rooted in global best practices, not protectionism. Under the Nigerian Oil and Gas Industry Content Development Act, the Board balances enforcement with capacity building, supported by 17 broad schedules and nearly 300 performance indicators.
He said local content policies are driving industrialisation, asset ownership, research ecosystems and sustainable operations. Projects such as NLNG Train-7, which engaged 1,400 vendors alongside 500 expatriates, have enabled local fabrication of pressure vessels, pumps, cables and industrial equipment now used beyond oil and gas.
Legacy investments, including the FPSO integration yard in Lador, are also reducing reliance on foreign capacity and positioning Nigerian firms for future projects.
Looking beyond Nigeria, Halilu said the Board is working through the African Petroleum Producers’ Organisation to promote local content across the continent, arguing that only regional scale can attract high-end investments. Initiatives such as the Africa Energy Bank and the Brazzaville Accord, he said, reflect Nigeria’s leadership in that effort.
