NCDMB's $40M Fund for Women in Energy Underutilized

The $40 million Women in Energy Fund, launched by the Nigerian Content Development and Monitoring Board (NCDMB) in November 2025, is significantly underutilized, prompting concerns from the Women in Energy Network (WIEN). The fund aims to enhance women's participation in Nigeria's oil and gas sector, specifically targeting businesses led by female CEOs or those with at least 51% female ownership.

Despite an increase in the total number of employees in the oil and gas industry, women's representation remains low, with only 17% of the workforce being female. Eyono Fatayi-Williams, President of WIEN, noted that structural issues limit access to bankable contract opportunities for women.

Olu Verheijen, Special Adviser to the President on Energy, acknowledged these challenges and emphasized the need for policy reforms to ensure women have equitable access to economic opportunities in the sector. Current data indicates that women hold only 18.2% of the energy workforce and 25.6% of leadership roles in Nigeria's energy sector.