Nigeria oil production is entering a new chapter as the country strengthens local players in its energy industry.
On Tuesday, the nation’s oil and gas content regulator unveiled a $100 million equity investment scheme, signalling a fresh push to help indigenous companies play a stronger role in the sector.
Equity Fund For Nigeria Local Oil Firms
At the Practical Nigerian Content Forum, Executive Secretary of the NCDMB, Felix Ogbe, explained that the board, in partnership with the Bank of Industry, will provide the fund to support high-growth Nigerian energy service firms that need capital to expand.
Stricter Compliance Rules
Furthermore, Ogbe announced a tougher compliance system.
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Starting January 1, 2026, companies must obtain a compliance certificate proving they meet the mandatory 1% remittance; without it, authorities will block access to permits and approvals.
Rising Local Participation
He also highlighted progress in local participation.
Nigerian content in monitored projects has increased to 61%, up from 56% last year, with major contributions coming from developments such as NLNG Train 7, NNPC’s AKK pipeline, and TotalEnergies’ Ubeta gas project.
Looking ahead, the board plans to launch a technology challenge in early 2026, expand training for vital oilfield skills, and strengthen measures to prevent fraudulent applications for local content certificates.
Finally, Ogbe emphasised the long-term goal.
Although the journey presents challenges, he said, the opportunities remain just as significant.
By strengthening Nigerian content, the country will drive industrialisation and national development.
