Economy
NCDMB Unveils $100m Equity Investment Scheme for Local Energy Firms
By Adedapo Adesanya
The Nigerian Content Development and Monitoring Board (NCDMB) has unveiled a $100 million Equity Investment Scheme among a raft of fresh initiatives to bolster indigenous capacity and participation in the oil and gas industry.
The Executive Secretary of the NCDMB, Mr Felix Ogbe, announced this in a keynote address he delivered at the 14th Practical Nigerian Content Forum, noting the $100 million Equity Investment Scheme would provide financing to high-growth indigenous energy service companies, while diversifying the income base of the Nigerian Content Development Fund (NCDF).
In furtherance of the $100 million Equity Investment Scheme, a memorandum of understanding was signed at the event between Engr. Ogbe and the Managing Director of the Bank of Industry, Mr Olasupo Olusi, toward management of the scheme, which is a new product of the Nigerian Content Intervention Fund, NCI Fund.
The NCDMB boss also announced that 61 per cent Nigerian Content level was already attained in the oil and gas sector by the third quarter of 2025 from the projects being monitored by the Board.
Another major announcement was the Board’s readiness to onboard a new set of Project 100 Companies after the successful implementation of approved interventions relating to the first set of Project 100 Companies, launched in 2019, for which an exit plan is slated for April 2026.
Project 100 Companies is an initiative of the Ministry of Petroleum Resources and the NCDMB under which 100 indigenous companies in the oil and gas industry are nurtured and empowered to higher levels of competitiveness through capacity building and access to market opportunities.
He also said the Board has concluded plans to launch its NCDMB Technology Challenge in the first quarter of 2026 and to hold a Research and Development Fair in the second quarter of 2026. In addition, a review of the Board’s seven current guidelines is to be undertaken between the first and second quarter of 2015.
Mr Ogbe further disclosed that the Board has completed the framework for issuance of NCDF Compliance Certificate, an instrument to confirm that a company in the oil and gas industry has complied with the one per cent remittance obligations. The Certificate will become effective on 1st January 2026 and would be required to obtain key permits and approvals from the Board.
Among recent accomplishments of the Board announced by the NCDMB boss was the expansion of access to community contractors under the Community Contractors Scheme, with over 94 disbursements made in 2025 alone.
In addition, the Nigerian Content Academy has commenced operation as a full-fledged division of the Board, with seven of its Lecture Series on key industry issues already organised.
On human capacity development, he noted that the NCDMB has rolled out its Oil and Gas Field Readiness Training Programme for top 10 skills in high demand, on the back of the surge in final investment decisions, FIDs, on big-ticket projects in the oil and gas industry and over 20 Field Development Plans recently approved by the Nigerian Upstream Petroleum Regulatory Commission, NUPRC. The Programme is to ensure availability of indigenous technical capacity at the take-off of the projects.
The construction of the multibillion-naira Oloibiri Museum and Research Centre, OMRC, at Otuabagi in Ogbia Local Government Area of Bayelsa State has also taken off, with the execution of a contract between the construction firm, Julius Berger Plc, and OMRC Limited in December 2024, while mobilisation to site was achieved in July 2025. Jointly sponsored by the Petroleum Technology Development Fund, PTDF, NCDMB, Shell Petroleum Development Company (now Renaissance Africa Energy Limited), and Bayelsa State Government, the project is expected to be delivered within 30 months.
In a presentation, the Chairman, Senate Committee on Local Content, Mr Joel Thomas, expressed concern that some indigenous companies have consistently flouted provisions of the Nigerian Oil and Gas Industry Content Development, NOGICD Act, 2010, as relates to one per cent remittance to the Nigerian Content Development Fund, NCDF.
His counterpart in the House of Representatives, Boma Goodhead, commended the NCDMB for sustaining the PNC Forum and Exhibition over the years and for ably guiding industry drive toward attainment of objectives of the NOGICD Act.
In his ministerial address, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said the theme of the PNC Forum, “Securing Investments, Strengthening Local Content, and Scaling Energy Production,” captures Nigeria’s national priorities that guide interventions by the Board and his Ministry.
He emphasised that “Investment remains the lifeblood of the energy sector,” and that the Board and the Ministry are committed to providing stable policies, transparent processes, and market-driven incentives, to attract long-term capital. He assured that they would continue strengthening local capacity across fabrication, engineering, technology services, manufacturing of components, and research and development.
On his part, Mr Olusi, said that the collaboration between the NCDMB and BOI marked a significant expansion of a longstanding relationship, while assuring that through the $100 million NCIF Equity Investment Fund, the Bank of Industry will deploy equity and quasi-equity capital to support high-potential Nigerian companies, to complement traditional debt financing and strengthening access to the long-term risk capital required for scale, competitiveness, and value creation.
According to the BOI boss, with a single obligor limit of $5 million, the Fund is designed to catalyze multiple high-impact investments while maintaining strong governance and prudent risk management.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange lost its gaining streak on Wednesday, July 22, after it fell by 0.24 per cent despite the presence of five price gainers.
Yesterday, the market capitalisation went down by N6.32 billion to N2.631 trillion from the previous session’s N2.637 trillion, and the NASD Security Index (NSI) depreciated by 10.49 points to 4,383.48 points from 4,393.97 points.
The poor outcome was caused by the losses recorded by two securities, led by FrieslandCampina Wamco Nigeria Plc, which lost N5.60 to settle at N147.55 per unit compared with Tuesday’s closing price of N153.15 per unit, and Central Securities Clearing System (CSCS) Plc, which tumbled by N1.01 to N98.32 per share from N99.33 per share.
On the flip side, Nipco Plc added N38.00 to sell at N422.00 per unit versus N384.00 per share, Afriland Properties Plc gained 75 Kobo to close at N15.76 per share versus N15.01 per share, Geo-Fluids Plc improved by 23 Kobo to N2.53 per unit from N2.30 per unit, Industrial and General Insurance (IGI) Plc appreciated by 2 Kobo to 52 Kobo per share from 50 Kobo per share, and Food Concepts Plc increased by 1 Kobo to N2.49 per unit from N2.48 per unit.
At midweek, the volume of securities surged by 3,438.9 per cent to 11.4 million units from 322,147 units, the value of securities rose by 122.2 per cent to N43.1 million from N19.4 million, and the number of deals jumped by 81.5 per cent to 49 deals from 27 deals.
Great Nigeria Insurance (GNI) Plc remained the most active stock on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 75.4 million units exchanged for N5.4 billion.
GNI Plc was also the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.
By Dipo Olowookere
The domestic stock exchange slipped into the negative territory on Wednesday by 0.50 per cent after the consumer goods sector closed lower by 5.04 per cent despite the gains recorded by the other key sectors.
The insurance index shed 1.64 per cent, the banking space gained 1.51 per cent, and the industrial goods segment expanded by 0.81 per cent, while the energy counter closed flat.
At the close of business, the market capitalisation declined by N800 billion to N158.319 trillion from N159.119 trillion, and the All-Share Index (ASI) shrank by 1,241.19 points to 245,418.37 points from 246,659.56 points.
The duo of BUA Foods and Nestle Nigeria crumbled by 10.00 per cent each to N845.10 and N2,812.50, respectively. Mecure lost 9.94 per cent to trade at N69.30, International Energy Insurance slumped by 9.84 per cent to N4.40, and UAC Nigeria dipped by 7.75 per cent to N184.45.
On the flip side, the trio of Unilever Nigeria, Trans-Nationwide Express, and Cadbury Nigeria improved by 10.00 per cent each to quote at N137.50, N3.08, and N137.50, respectively. Thomas Wyatt moved up by 9.95 per cent to 4.09, and UPDC REIT jumped by 9.40 per cent to N12.80.
A total of 37 stocks ended on the advancers’ chart and 28 stocks finished on the laggards’ log, indicating a positive market breadth index and bullish investor sentiment.
Market participants transacted 1.3 billion shares worth N158.3 billion in 47,458 deals at midweek, in contrast to the 932.5 million shares valued at N49.3 billion traded in 50,059 deals in the preceding day. This implied that the number of deals declined by 5.20 per cent, while the trading volume and value increased by 39.41 per cent and 221.10 per cent, respectively.
First Holdco led the activity chart, with a turnover of 736.0 million units valued at N80.8 billion, Access Holdings exchanged 79.6 million units for N2.1 billion, GTCO transacted 34.1 million units worth N4.4 billion, Mutual Benefits sold 24.4 million units valued at N85.3 million, and Zenith Bank traded 21.5 million units for N2.6 billion.
By Adedapo Adesanya
The Naira further appreciated against the United States Dollar by N5.68 or 0.41 per cent to N1,369.63/$1 on Wednesday, July 22, from the preceding session’s N1,375.31/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEX).
Similarly, the Nigerian currency improved its value against the Pound Sterling in the official market during the session by N8.01 to trade at N1,833.12/£1 compared with the previous day’s N1,841.13/£1, and against the Euro, it gained N4.75 to sell at N1,563.03/€1, in contrast to Tuesday’s closing price of N1,567.78/€1.
In the same vein, the Naira strengthened its rate against the US Dollar in the black market yesterday by N5 to quote at N1,400/$1 compared with the N1,405/$1 it was traded a day earlier, and at the GTBank FX desk, it chalked up N5 against the greenback to settle at N1,383/$1 versus N1,388/$1.
FX liquidity was boosted by inflows from foreign portfolio investors, exporters and non-bank corporates. The significant liquidity and strong investor sentiment aided the naira recovery from the recent slump.
As a result, total turnover settled at $416.420 million on Wednesday, up by 29 per cent from $322.664 million recorded the previous day.
The number of deals counted at the NAFEM window also increased to 198 from 110 on Tuesday, signalling higher demand for foreign payments matched adequate FX inflows.
With more than $52 billion in gross external reserves, analysts said the FX market is expected to remain stable in the near term.
As for the digital currency market, Bitcoin (BTC) slipped by 0.4 per cent to $65,658.75 as rising oil prices and higher Treasury yields pressured risk assets and weighed on major cryptocurrencies, which later saw some recovery.
Market sentiment was further dampened by an apparent escalation in US military strikes linked to Iran, while traders also looked at regulatory uncertainty as key US Senate Democrats criticised the latest draft of the Digital Asset Market Clarity Act, which is designed to define and separate regulatory oversight for cryptocurrency, stablecoins, and digital commodities.
Dogecoin (DOGE) crashed by 0.1 per cent to $0.0724, and TRON (TRX) dropped 0.01 per cent to trade at $0.3287, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
However, Cardano (ADA) rose by 1.6 per cent to $0.1741, Ethereum (ETH) gained 0.2 per cent to close at $1,921.85, Binance Coin (BNB) also grew by 0.2 per cent to $569.38, Ripple (XRP) increased by 0.1 per cent to $1.13, and Solana (SOL) soared by 0.02 per cent to $77.50.
