Nigeria launches $100 million Content Equity Fund to boost oil‑service sector

On 31 July 2026 in Lagos, the Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BOI) inaugurated the Investment Committee for the Nigerian Content Equity Fund (NCEF). The $100 million fund will provide long‑term equity financing to indigenous oil‑field service companies, manufacturers, and fabrication yards, replacing traditional debt instruments. Its goals are to lower the per‑unit cost of oil‑and‑gas services, generate additional revenue for NCDMB, and attract further investment to financially viable firms. The fund is managed by BOI with an obligor limit of $5 million and is expected to create about 12,500 direct and 7,000 indirect jobs. The committee, chaired by Steve Bawa, includes senior officials such as NCDMB Executive Secretary Felix Omatsola Ogbe and BOI Managing Director Dr Olasupo Olusi, marking a key step in the Nigerian Content Intervention Fund’s rollout.