BoI and NCDMB Launch $100M Equity Investment Scheme for Nigerian Oil and Gas Companies
The Bank of Industry (BoI) and the Nigerian Content Development and Monitoring Board (NCDMB) have signed a memorandum of understanding for a $100 million Nigerian Content Intervention Fund (NCIF) equity investment scheme. This initiative aims to support high-potential Nigerian companies in the oil and gas sector by providing equity and quasi-equity capital to complement traditional debt financing.
The scheme will enhance access to long-term risk capital required for competitiveness and value creation. Key figures involved include Olasupo Olusi, Managing Director of BoI, and Felix Omatsola Ogb, Executive Secretary of NCDMB.
The partnership aligns with NCDMB's 10-year roadmap and Nigeria's broader industrial development agenda, emphasizing indigenous participation and economic resilience.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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