BoI, NCDMB Seal Pact on $100M NCIF Equity Investment Scheme
Oluchi Chibuzor
The Bank of Industry (BoI) and the Nigeria Content Monitoring and Development Board (NCDMB) have signed a Memorandum of Understanding (MoU) on $100 million Nigerian Content Intervention Fund (NCIF) equity investment scheme to support high-potential Nigerian companies.
The scheme will also complement traditional debt financing and strengthen access to the long-term risk capital required for scale, competitiveness, and value creation.
The Managing Director and Chief Executive Officer of the bank, Dr. Olasupo Olusi, who spoke briefly at the ongoing Practical Nigeria Content (PNC) forum in Yenagoa, Bayelsa State, said the collaboration between the BoI and the board marks a significant expansion of their long-standing relationship.
“I extend my sincere appreciation to the Executive Secretary, Felix Omatsola Ogbe, and the entire NCDMB leadership for their partnership, shared vision, and unwavering commitment to strengthening indigenous participation across Nigeria’s oil and gas value chain.
“Through the $100 million NCIF Equity Investment Scheme, the Bank of Industry will deploy equity and quasi-equity capital to support high-potential Nigerian companies, complementing traditional debt financing and strengthening access to the long-term risk capital required for scale, competitiveness, and value creation,” he added.
He explained that the structure of the Fund reflects BOI’s proven equity investment approach, anchored on rigorous due diligence, disciplined investment review processes, and robust post-investment monitoring.
According to him, “Our objective is to ensure that deployed capital generates credible commercial returns while advancing national priorities in local content development, manufacturing expansion, job creation, and technology transfer.
Earlier in his opening remark, the Executive Secretary, NCDMB, Omatshola Ogbe, said the deal was part of the board’s efforts to provide affordable finance for local players in the industry.
“This is a new product in our Nigerian Content Intervention Fund. This finance scheme will provide equity financing to high-growth indigenous energy service companies while diversifying our NCDF’s income base and strengthening local content development,” Ogbe stated.
