Nigerian Content Development and Monitoring Board (NCDMB) on Wednesday in Uyo, Akwa Ibom State, officially unveiled its Nigerian Content Fund Compliance Certificate (NCFCC) and the upgraded Nigerian Content Development Fund (NCDF) Payment Portal at a sensitisation and engagement forum attended by the top Management of the Board’s financial partners, the Bank of Industry (BoI) and Nigerian Export-Import (NEXIM) Bank.
The NCFCC, a vital operational requirement in the oil and gas sector, serves as official proof that an operating or service company has fulfilled an obligation set out in Section 104(2) of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010. The Act stipulates that, “the sum of one percent of every contract awarded to any operator, contractor, sub-contractor, alliance partner or any other entity involved in any project, operation, activity or transaction in the upstream of the Nigerian oil and gas industry shall be deducted at source and paid into the fund [NCDF].”
Declaring the event open, Mr. Emmanuel Bala Yusuf, Manager, NCDF, of the NCDMB, said the unveiling of the portal was not just about technology but about “aligning with the national vision for ease of doing business, digital transformation, and accountability, as reinforced by recent Executive Orders of the Federal Government.”
He noted that the NCDF has been transformative, as evidenced by the remarkable boost in Nigerian Content, which currently stands at over 60 per cent, translating into more value, jobs, and expertise in-country. Enumerating specific gains thus far, he stated that “More than 400 million dollars has supported over 130 indigenous companies, addressing the critical challenge of access to finance.”
According to him, “Strategic initiatives like Project 100 have strengthened local capacity, while innovative financing tools, including a 100-million-dollar equity investment scheme, ensure sustainability,” adding, “But as progress expands, our systems must evolve.”
He recalled that in the past, compliance confirmation was handled manually, with companies having to submit physical documents, wait for verification, and endure delays that stretched into weeks. Project approvals got slowed, creating uncertainty and limiting transparency for regulators and investors.
The new portal, he explained, would “Cut certificate processing time from weeks to days, allow online applications without physical visits or paperwork, provide instant status updates … enable regulators to verify compliance in real time, and create a single digital record that investors and lenders can trust.”
Other benefits of the digitisation include enhanced access to the NCDF, as companies that fulfil obligations could obtain certificates promptly, unlocking of financing opportunities without delay and channeling of resources into projects that create jobs, build capacity, and strengthen the country’s oil and gas value chain.
Earlier in opening remarks, the General Manager, NCDF, Mrs. Fatimah Mohammed, represented by Mr. Dandy Osagie, a senior supervisor, said effective implementation of Nigerian Content requires continuous engagement, collaboration and capacity building, and that programmes like sensitisation and engagement are an important platform for listening to stakeholders, clarifying areas of concern, and ensuring that the systems and processes provided by the Board are well understood and effectively utilised.
She pointed out that the upgraded NCDF Payment Portal, the Compliance Certificate System, and access to the Nigerian Content Intervention Fund (NCIF) are critical to improving efficiency, transparency and ease of doing business, while also ensuring that eligible Nigerian companies could better access financing and comply with the requirements of the Nigerian Content Act and relevant Board regulations.
In an overview of “NCDMB Compliance and Joint Qualification System (JQS) Processes,” Mr. John Ifidi, Assistant Manager, Planning Research and Statistics (PRS), of the NCDMB, described the Nigerian Oil and Gas Industry Content (NOGIC) JQS as “a centralised database for available in-country capacities and capabilities of companies and individuals alike that are operating in the Nigerian oil and gas industry.”
He said the NOGIC JQS, established in line with Section 55 of the NOGICD Act, is the platform via which Nigerian Content registration and pre-qualification are carried out, and that it is also the system that is used to rank companies according to their capacities and competencies in the industry. “In a nutshell,” he stated, “the NOGIC JQS is the launchpad through which a lot of our processes as an agency are carried out.” He said every company desirous of doing business in the oil and gas industry would have to register on the NOGIC JQS portal.
In a goodwill message the Managing Director of NEXIM Bank, Mr. Abubakar A. Bello, represented by the Bank’s Head of Specialised Business, Mr. Mohammed Z. Awami, said the financial institution is “proud to support the objectives of the NCDMB through initiatives designed to provide financing and tailored solutions for eligible Nigerian oil and gas service providers.” He listed the NCDMB Working Capital and Capacity Fund, managed by NEXIM Bank, as one intervention that provides “access to competitive financing to support business expansion, market access and increased participation in the global oil and gas value chain.”
He stated that through its partnership with NCDMB, the Bank has remained “committed to supporting credible Nigerian businesses to overcome funding constraints, strengthen operational capacity, expand their markets and take advantage of emerging opportunities in the oil and gas sector.”
The Bank of Industry, in a separate goodwill message by its Managing Director, Dr. Olasupo Olusi, expressed profound appreciation to the NCDMB for its continued partnership and collaboration in promoting Nigerian Content and supporting the growth of indigenous businesses within the oil and gas sector. Represented by the Manager, Oil and Gas Division of the Bank, Mrs. Olamide Oladele, the Managing Director said the sensitisation forum created an important opportunity to create greater awareness around the NCI Fund, managed by the BoI, particularly financing opportunities available to businesses and how they can effectively position themselves to access the funds.
In the Interactive Question and Answer session, a number of issues and difficulties were clarified. Representatives of service companies who questioned why the NCDMB engages auditors to carry out audit after internal auditors had undertaken such processes were told that the two audit exercises served different purposes.
Dandy Osagie explained that what the companies carry out internally are statutory audits, while the NCDMB undertakes forensic audits. The latter are for purposes connected with what companies need to pay in respect of the one per cent levy for the NCDF.
On whether companies that contribute to the NCDF but do not have running contracts at a given time could be considered for the intervention funds for purposes of capacity building, Mr. Awami answered in the affirmative, explaining that the track records of such companies in industry operations could serve as useful guides to determine their eligibility.
Engr. Abdullahi, disclosed that beneficiaries of human capacity development (HCD) trainings sponsored by the Board or in partnership with oil and gas industry operators/service companies do not pay for certifications, that the NCDMB or the aforesaid companies are responsible for all costs.
On the one per cent statutory levy on upstream contracts, Mrs. Abosede Bozegha, Supervisor, NCDF, explained that it is the invoiced amount that is involved, and not necessarily the entire contract value. An operator, service company or contractor might be paying in fractions, sometimes on monthly basis, so it is what is invoiced at any given point that is used as a basis.
The “Stakeholders’ Sensitization and Engagement Forum” in Uyo, themed “Compliance Certificate System, Upgraded NCDF Payment Portal and the Revised Community Contractor Scheme,” had representatives of 327 service companies and community contractors in attendance. It was the fourth this year, after earlier editions in Lagos, Warri and Port Harcourt.
