The Nigerian Content Development and Monitoring Board (NCDMB) has intensified efforts to strengthen transparency and compliance in the oil and gas sector through the introduction of new regulatory instruments and enhanced digital platforms for remittance of the Nigerian Content Development Fund (NCDF).
At a high-level stakeholder forum held in Port Harcourt, Rivers State, the Board brought together chief executives of indigenous oil and gas firms, host community contractors, vendors, and representatives from partner financial institutions — the Bank of Industry (BoI), Nigerian Export-Import (NEXIM) Bank, and First City Monument Bank (FCMB). The event, themed “NCDMB Stakeholders Sensitization and Engagement Forum,” focused on deepening understanding of the 1% NCDF Compliance Certification, unveiling new features of the upgraded NCDF payment portal, and highlighting the revised Community Contractors Scheme.
In his keynote address, the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, stated that the initiative is part of the Board’s commitment to creating a more inclusive, transparent, and efficient compliance ecosystem under the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010.
Ogbe explained that the newly introduced Nigerian Content Fund Clearance Certificate (NCFCC) serves as a verifiable and transparent instrument confirming compliance with Section 104 of the NOGICD Act, which mandates a one percent deduction from the value of all upstream contracts for the development of local content.
“This certificate provides tangible proof of compliance and enhances accountability in the system. It is a bold step toward reinforcing trust between operators, contractors, and the regulatory authority,” Ogbe noted.
Represented by Mr. Ossa Uchendu, Director of Finance and Personnel Management, the Executive Secretary also underscored the importance of financial empowerment in deepening local participation in the oil and gas value chain. He emphasized that NCDMB’s funding partnerships with BoI, NEXIM, and FCMB have opened strategic windows for indigenous companies to access loans and expand capacity.
“Financing remains a major pillar of local content growth. This forum allows stakeholders to share experiences, ask critical questions, and co-create solutions to sustain Nigeria’s competitiveness in the global energy market,” he said.
Delivering a goodwill message, Dr. Ifeoma Uzokpala, Executive Director of Large Enterprises at the Bank of Industry, lauded the NCDMB for its proactive approach to stakeholder engagement and financial inclusion.
“Our shared commitment is to strengthen the Nigerian oil and gas value chain. Beyond funding, we’re here to ensure transparency, responsiveness, and excellent service to indigenous enterprises,” she said, noting that the BoI remains steadfast in ensuring that the NCDF continues to deliver meaningful impact.
Similarly, Mr. Muhammed Awami, Head of Specialised Business at NEXIM Bank, praised the NCDMB for its leadership role in driving local capacity and export competitiveness.
“NEXIM is proud to align with NCDMB in unlocking new opportunities for Nigerian businesses, particularly in export financing, manufacturing, and logistics. Our collaboration will help derisk projects and promote alignment with the Nigerian Content 10-Year Strategic Roadmap and the African Continental Free Trade Agreement (AfCFTA),” Awami stated.
During the interactive session, some indigenous company leaders raised concerns about the reluctance of commercial banks to issue guarantees for BoI loans and delays in payments from major contractors. They appealed to NCDMB to intervene in promoting fairness and accountability within the contracting ecosystem.
In response, Engr. Jeff Tuatongha, General Manager, Monitoring and Evaluation (Upstream), NCDMB, clarified that while the Board lacks statutory powers to compel payment enforcement, it remains open to mediatory interventions when formally reported. Panelists also recommended the inclusion of commercial bank representatives in future stakeholder engagements to ensure broader participation and problem-solving.
The event also featured technical presentations, including:
- “Understanding the NCDMB Compliance Certificate System” by Mr. Emmanuel Paulker Umeme, Supervisor, Process Improvement, NCDMB;
- “Navigating the Upgraded NCDF Payment Portal” by Vascon Solutions;
- “The Revised Community Contractors Finance Scheme” by Mr. Akintomide James, Head, Midstream and Dealers, FCMB; and
- “NEXIM Oil and Gas Services Support Facilities” by Mr. Mohammed Z. Awami, Head, Specialized Business, NEXIM Bank.
The unveiling of the new Compliance Certificate was led by Mr. Ossa Uchendu, while Mrs. Fateema Mohammed, General Manager, NCDF, in her closing remarks, emphasized that the engagement had evolved into an ongoing dialogue for progress rather than a one-off event.
“Our goal is to empower, not just regulate. Today’s conversations reaffirm our collective vision of a more vibrant and competitive oil and gas industry,” she remarked, announcing that the next edition of the Forum will be held in Warri, Delta State, before the NCFCC officially comes into effect on January 1, 2026.
Other key officials at the event included Engr. Bashir Ahmed (Supervisor, Projects Certification and Authorization Directorate), Engr. Mustapha Abdullahi (Supervisor, Capacity Building Directorate), and Mr. Teleola Oyeleke (Supervisor, Corporate Communications Division).
The engagement underscored NCDMB’s commitment to fostering an environment where indigenous participation, financial access, and regulatory compliance converge to drive sustainable growth and innovation in Nigeria’s oil and gas sector.
NCDMB deepens transparency and stakeholder engagement in Nigeria’s oil and gas sector with the launch of the Nigerian Content Fund Clearance Certificate (NCFCC), upgraded NCDF payment portal, and enhanced funding partnerships with BoI, NEXIM, and FCMB.
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