The Bank of Industry (BoI) and the Nigeria Content Monitoring and Development Board (NCDMB) have signed a Memorandum of Understanding (MoU) on a $100 million Nigerian Content Intervention Fund (NCIF) equity investment scheme aimed at supporting high-potential Nigerian companies.
The scheme is designed to complement traditional debt financing and improve access to the long-term risk capital required for business expansion, competitiveness, and value creation across key sectors, especially the oil and gas value chain.
The Managing Director and Chief Executive Officer of BoI, Dr Olasupo Olusi, disclosed this at the ongoing Practical Nigeria Content (PNC) Forum in Yenagoa, Bayelsa State, where he described the partnership as a major milestone in deepening indigenous participation in strategic industries.
“This collaboration between the Bank of Industry and the NCDMB marks a significant expansion of our long-standing relationship,” Olusi said.
He expressed appreciation to the Executive Secretary of NCDMB, Felix Omatsola Ogbe, and the board’s leadership for their shared vision and commitment to strengthening Nigerian participation across the oil and gas value chain.
“Through the $100 million NCIF Equity Investment Scheme, the Bank of Industry will deploy equity and quasi-equity capital to support high-potential Nigerian companies, complementing traditional debt financing and strengthening access to the long-term risk capital required for scale, competitiveness, and value creation,” he added.
The initiative is expected to accelerate the growth of indigenous companies, drive job creation, and deepen local content development in Nigeria’s energy sector and related value chains.
