The Federal Government, through the Nigerian Content Development and Monitoring Board (NCDMB), has announced the upcoming launch of the Nigerian Content Equity Fund, a financing initiative aimed at providing long-term risk capital to Nigerian oil and gas companies operating in high-value and high-impact sectors.
The announcement was made on Thursday at NCDMB Towers, Yenagoa, Bayelsa State, during an event organised by Tamrose Limited and the NCDMB to celebrate the repayment of a $10 million loan obtained by Tamrose under the Nigerian Content Intervention Fund.
The Executive Secretary of the NCDMB, Felix Ogbe, represented at the event by Esueme Kikile, General Manager of Human Capacity Development at NCDMB, confirmed that the new equity fund would be officially launched in December.
“We will continue to expand our activities to strengthen our role in renewables, expand the new economy, and build a strong industrial base that is powered by Nigerian talent, Nigerian capital, and Nigerian innovation,” the board said.
The Nigerian Content Equity Fund is expected to provide critical support to domestic companies, helping them compete in the global energy market while fostering industrial growth and technological innovation within Nigeria.
