The Federal Government has ordered upstream oil and gas operators to show proof of their one percent contributions to the Nigerian Content Development Fund (NCDF). Companies must now obtain a compliance certificate from the Nigerian Content Development and Monitoring Board (NCDMB) to verify their remittances.
The NCDMB unveiled the new Nigeria Content Compliance Certificate System on Tuesday during a sensitisation workshop in Lagos. The board said the initiative will improve transparency and ensure full compliance with the Nigerian Oil and Gas Industry Content Development Act of 2010.
That law requires contractors, subcontractors, and project partners to remit one percent of the value of every contract to the NCDF. The fund supports initiatives that boost local content across the oil and gas sector.
NCDMB Launches Upgraded Compliance and Finance Platforms
NCDMB Executive Secretary, Engr. Felix Ogbe explained that the new compliance certificate offers a clear standard for companies to demonstrate accountability. He said the board now has stronger tools to enforce compliance and monitor financial contributions in real time.
“This certificate gives us a better way to track remittances and ensures that companies follow Nigerian content rules,” Ogbe said. “The sensitisation workshop isn’t just an event. It’s part of our commitment to increase indigenous participation and improve access to development funds.”
The board also launched an enhanced NCDF payment portal during the event. Ogbe said the portal upgrade simplifies remittance processes, improves user experience, and helps the board track inflows efficiently.
“With compliance certification now in effect, we expect higher inflows to the fund. The platform upgrade comes at the right time,” he added.
Revised Loans for Community Contractors, $400m Intervention Fund Expands
NCDMB also used the forum to promote its revamped Community Contractors Finance Scheme, a loan facility managed by First City Monument Bank (FCMB). The scheme now offers up to ₦50 million at 8% annual interest to qualified firms executing projects in host communities.
Ogbe said the board redesigned the loan program to remove barriers and expand access. “This effort aligns with our goal of shared prosperity and inclusive growth across host communities,” he said.
He also gave an update on the Nigerian Content Intervention Fund (NCI Fund), a $400 million financing initiative managed by the Bank of Industry and the Nigerian Export-Import Bank. According to him, 130 indigenous companies have already accessed loans through the fund.
“We’re working to ensure more local firms in the industry can benefit,” he stated.
The NCDMB said these tools and funding programs are vital for driving Nigerian content, holding companies accountable, and expanding opportunities for local operators in the upstream oil and gas sector.