BoI, NCDMB Seal $100m Equity Scheme To Boost Local Content

The Bank of Industry (BoI) and the Nigerian Content Development and Monitoring Board (NCDMB) have finalised a $100 million equity investment scheme under the Nigerian Content Intervention Fund. The agreement creates a long-term capital platform for high-growth Nigerian companies and complements standard debt financing.

BoI Managing Director Olasupo Olusi announced the partnership at the Practical Nigeria Content Forum in Yenagoa. He said the scheme expands the institution’s long partnership with NCDMB and is focused on strengthening indigenous participation across Nigeria’s oil and gas value chain.

He said the fund will deploy equity and quasi-equity capital to firms with strong expansion potential, improving scale, competitiveness, and value creation. He noted that the structure mirrors BoI’s established equity-investment model built on strict due diligence, disciplined investment reviews, and firm post-investment monitoring.

Olusi said the goal is to ensure commercial returns while advancing national priorities, including local content development, manufacturing growth, job creation, and technology transfer. He added that the initiative aligns with NCDMB’s 10-year roadmap and Nigeria’s wider industrial-development agenda.

He reaffirmed BoI’s commitment to supporting resilient indigenous companies capable of competing globally and delivering long-term economic value.

NCDMB Executive Secretary Omatsola Ogbe said the scheme is part of the board’s drive to provide affordable financing for local operators. He said the initiative will diversify the income base of the Nigerian Content Development Fund (NCDF) and deepen capacity within the sector.

Ogbe added that the framework for issuing the NCDF Compliance Certificate is complete. The certificate, which verifies a company’s fulfilment of the 1 per cent remittance requirement, will take effect on January 1, 2026, and will be mandatory for obtaining key permits and approvals.