NCDMB is actively transforming Nigeria’s oil and gas sector, turning a single percentage into a powerful tool for local empowerment.
Consequently, the Nigerian Content Development Fund (NCDF) enables indigenous companies to compete directly with foreign operators and service providers.
NCDMB Drives Local Empowerment
This week, the board’s General Manager for Corporate Communications, Dr Obinna Ezeobi, reminded all operators that they must remit the mandatory one per cent deduction for the NCDF.
He emphasised that this deduction is not merely a regulatory requirement; instead, it funds local capacity development and drives industry growth.
NCDF Strengthens Skills And Capacity
Moreover, Executive Secretary Felix Omatsola-Ogbe explained that the NCDMB established the NCDF under Section 104 of the Nigerian Oil and Gas Industry Content Development Act 2010.
The law requires every upstream contract to contribute one per cent to the fund, thereby strengthening local expertise and technical capability.
Before the Act, foreign companies dominated most technical, financial, and procurement activities, which sidelined Nigerian firms.
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Since then, the NCDF has financed training programmes, technical development, and affordable project financing for local contractors, shifting the industry balance.
Additionally, it promotes technology transfer and in-country value creation, building skills and resources within Nigeria.
Compliance Unlocks Industry Access
The board now requires all companies to obtain the Nigerian Content Development Fund Compliance Certificate (NCFCC) to access regulatory approvals.
Without the certificate, companies risk delays or denial of operational clearances and critical documentation.
Furthermore, NCDMB recognises only remittances paid into its officially designated accounts, ensuring transparency and legal compliance.
As a result, the NCDF has grown into a major industry intervention pool exceeding $300 million, supporting indigenous contractors at scale.
By enforcing the NOGICD Act and mandating compliance, NCDMB demonstrates how one per cent can create lasting impact in Nigeria’s oil and gas industry.
