By Adedapo Adesanya

The Nigerian Content Development and Monitoring Board (NCDMB) has reiterated that operators, contractors, and service companies in the upstream sector of their mandatory obligation to remit one per cent (1 per cent) Nigerian Content Development Fund (NCDF) levy into the bank accounts officially designated by the board.

In a statement issued on Wednesday, the General Manager of the Corporate Communications Division, Mr Obinna Ezeobi, the Executive Secretary of NCDMB, Mr Felix Omatsola Ogbe, explained that the NCDF is established under Section 104 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010, as a dedicated fund for the development of Nigerian content in the oil and gas industry.

He reiterated that covered entities are bound to remit one per cent of the value of every upstream contract, adding that NCDMB is vested with the exclusive authority for the management and administration of the fund.

According to him, funds generated under the NCDF are deployed to support indigenous oil and gas contractors and service companies, to finance capacity development and training in the industry, to enable access to affordable finance for indigenous participation, and to drive sustainable growth across the oil and gas value chain.

Mr Ogbe clarified further that “the NCDF is a ring-fenced statutory development fund created by a specific Act of the National Assembly,” adding that it is “not classified as Federal Government revenue payable into the Consolidated Revenue Fund and its collection and administration are expressly governed by Section 104 of the NOGICD Act.”

He stressed that all remittances of the levy must be made strictly into the accounts officially designated by the NCDMB, pointing out that “any remittance made outside the accounts formally designated by the NCDMB “shall not be recognised as a valid payment of the one per cent (1%) NCDF Levy under the Act.”

He urged companies to ensure strict compliance and to seek clarification from the Board where necessary prior to effecting any remittance.

The Executive Secretary assured industry stakeholders that the Board remains committed to transparency, accountability, and the effective utilisation of the Fund for the growth and sustainability of Nigerian Content in the oil and gas industry.

“Furthermore, the NCDMB has announced that obtaining the Nigerian Content Development Fund Compliance Certificate (NCFCC) has become a key requirement for accessing the Board’s regulatory services and approvals.

“The NCDF Compliance Certificate is issued to companies to confirm their full compliance with statutory obligation to remit one per cent (1%) of the value of every contract awarded in the upstream sector of the oil and gas industry,” the statement added.

The Board stated that “without a valid NCDF Compliance Certificate, access to regulatory documents, certifications, approvals, and clearances issued by NCDMB shall not be granted.”

It added that some of these include Nigerian Content Equipment Certificate (NCEC), approvals and clearances for projects and contracts, and other regulatory documents issued by the Board.

The agency advised oil and gas industry stakeholders to regularise their NCDF remittance status, apply promptly for the document and ensure continuous compliance to avoid disruptions to operational schedules.

The board said the process of obtaining the NCFCC is fully digital and accessible via the NCDMB online portal. It advised all eligible companies to submit relevant contract and remittance information, upload evidence of NCDF payments, complete verification and compliance review, and obtain the Compliance Certificate upon confirmation.

According to NCDMB, obtaining the NCDF Compliance Certificate matters because it is a validation of a company’s standing with the Board, and serves as a mechanism for promoting transparency, accountability, and sustainable Nigerian content development.

By Adedapo Adesanya

Nigerian billionaire businessman, Mr Aliko Dangote, has given his three daughters new positions in his multi-sector conglomerate, in what is speculated as part of his succession plans.

Mr Dangote’s business interests are primarily concentrated through the Dangote Group, a diversified conglomerate focused on manufacturing, agriculture, and infrastructure. His interests in these sectors cover sugar, salt, fertiliser, oil, and cement.

The 68-year-old billionaire has three daughters – Mariya, Halima, and Fatima – and according to Bloomberg, each has been given a core role in their father’s enterprises.

The eldest daughter, Mariya Dangote, was appointed to the board of the cement unit when her father retired in July 2025, and has now been tipped to lead the commercial strategy for that business as well as the group’s food operations across all markets.

Ms Halima Dangote, the middle daughter, already runs the family office in Dubai, and will use her experience to consolidate the company’s London operations and support the company’s international activities.

Ms Fatima Dangote, his youngest child, will assume a commercial leadership role at the energy business, which includes the 650,000-barrels per day Lagos refinery, while continuing to oversee Dangote Group’s corporate communications and administration.

The changes will “empower a new generation to take on expanded responsibilities in shaping our future,” the publication cited a verified staff memo.

The decision made by the entrepreneur accelerates the handoff of operational power to the next generation at one of Africa’s biggest industrial conglomerates, marking a significant milestone in Dangote’s succession strategy.

Handing over businesses to children is a common practice all over the world, as well as in Nigeria. One of such popular cases is Mr Pascal Dozie, who founded the defunct Diamond Bank, of which he was CEO between 1991 and 2006, handing over to his son, Mr Uzoma Dozie, after the current Governor of Anambra State, Mr Alex Otti, headed the lender before veering into politics.

This development for Mr Dangote comes as he plans to list the fertiliser and oil refinery subsidiaries on the Nigerian Exchange (NGX) Limited this year and is seeking to expand his cement operations, which currently manufacture in 10 African countries.

He is also planning to expand capacity to 1.4 million barrels a day by 2028, which would make it one of the world’s largest crude-processing plants.

By Adedapo Adesanya 

The Nigerian Electricity Regulatory Commission (NERC) has introduced a streamlined three-step process to help electricity consumers address common issues like power outages, estimated billing, faulty meters, and voltage fluctuations.

In a public advisory shared on its X handle on Tuesday, the electricity sector regulator emphasised that customers should begin by contacting their respective electricity Distribution Companies (DisCos), which serve as the primary point of contact for technical and billing problems.

Consumers are urged to secure a complaint reference number and maintain records of all interactions for efficient follow-up.

The advisory outlines the process as follows: “Contact your DisCo’s customer care – This is the first step for all technical or billing issues;

“Escalate to State Electricity Regulator (SER) – If unresolved, and the consumer is in a state that has transitioned to an SER;

“Reach NERC Call Centre – For consumers in non-transitioned states or needing further assistance. Contact options include 0201 344 4331, 0908 899 9244, or co********@******ov.ng,” it said.

“We’re here to make sure your complaint is heard and addressed,” the advisory concluded, aiming to empower consumers amid ongoing challenges in Nigeria’s power sector.

This guidance comes as electricity consumers continue to grapple with service disruptions and billing disputes, highlighting NERC’s efforts to improve accountability across DisCos and state regulators.