NCDMB PORTAL

Plot 975 Cadastral Zone AO, Central Business District, Abuja

Phone: (+234) 9 4603630 – 9

Email: neximabj@neximbank.com.ng

NCDMB PORTAL reportgov.ng

NCDMB Facilities

The Nigerian Content Development and Monitoring Board (NCDMB) and NEXIM Bank established a credit facility scheme to boost indigenous participation in the Oil & Gas industry and build local capacity and competencies.

The loans under the Scheme will provide liquidity to beneficiaries and enable them have adequate working capital to manage other operating expenses related to their portfolio of oil and gas operations and restocking of inventory. The Funds will also be applied to acquisition and maintenance of low-end assets and/or expansion or renovation related to ongoing oil-servicing contracts/projects requiring funding.

Facilities to be accessed under this Partnership include:

  • Working Capital and Capacity Building Fund (WCCBF)
  • Women In Oil and Gas Intervention Fund (WIOGIF)

The two major facilities under the scheme are designed to address persistent funding challenges that have constrained capacity and growth of local service providers in Oil & Gas-related activities.

The NCDMB and NEXIM executed two Agreements comprising a US$30 million and US$20 million Working Capital Schemes that will support the operations of Nigerian Oil Service Providers against the adverse effects of both COVID-19 pandemic and loss of contracts due to low oil price.

The Working Capital and Capacity Building Fund will be managed by NEXIM, which would facilitate on-lending to qualified Nigerian Oil Service Providers (NOSPs), which belong to a professional Association in the Nigerian Oil & Gas industry recognized by NCDMB – PETAN, the Oil & Gas Trainers Association of Nigeria (OGTAN) and the Women In Oil and Gas (WIOG) amongst others.

The partnership between NCDMB and NEXIM under the scheme is in accordance with the mandates of both organisations towards the promotion and development of Services-related companies to effectively compete domestically and internationally, especially against the backdrop of the African Continental Free Trade Agreement (AfCFTA). The synergy is also in realization of the growing influence and dominance of the Services sector with contribution of over 50% to the Gross Domestic Product (GDP).

Objectives of the Scheme

The Working Capital & Capacity Building Fund is designed to achieve the following strategic objectives:

  • Boost indigenous participation of women in the Oil & Gas industry and build local capacity and competencies.
  • Promote the growth and development of Nigerian Content in the provision of services to the Nigerian Oil and Gas Industry.
  • Address persistent funding challenges that have constrained capacity and growth of local service providers in Oil & Gas-related activities.
  • Facilitate growth of Host Community-based companies in the provision of Services to the upstream Oil & Gas sector.
  • Enhance productivity and job creation in the Oil & Gas Industry.
  • Attract investment capital into the sector and boost contribution of the sector to Nigeria's economic growth.
  • Enhance skill acquisition and competences as well as rating to undertake export of Services in Oil & Gas-related activities.

Eligibility Criteria

Eligible Applicants and Beneficiaries include:

  • Duly registered/incorporated companies in Nigeria.
  • Commercially viable and have contract relationship with IOC/major NOC.
  • Start-ups and existing companies operating in the Oil & Gas Industry with majority ownership and/or management by women.

Eligible Projects / Transactions

Eligible transactions to qualify for funding support under this Scheme shall include:

  • Transactions connected with Oil service contracts.
  • Contracts to boost the operations and viability of a qualifying NOSP.
  • Transactions for the supply of low-end assets and/or other equipment relating to the execution of an oil services contract from IOCs/NOCs.

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