NCDMB–BOI Signs MoU for NCIF Equity Scheme at PNC 2025
A major milestone was recorded at #PNC2025 as the NCDMB–BOI MoU for NCIF Equity Scheme was formally signed by Engr. Felix Omatsola Ogbe (FNSE, FIPS), Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), and Dr. Olasupo Olusi, Managing Director of the Bank of Industry (BOI). The landmark agreement marks a bold step toward deepening industry financing and accelerating sustainable local content growth across Nigeria’s energy and manufacturing sectors.
Speaking at the signing ceremony, Dr. Olusi reaffirmed BOI’s commitment to empowering indigenous companies through the $100 million Nigerian Content Intervention Fund (NCIF) Equity Investment Fund. He stated that the facility will provide equity and quasi-equity capital to qualifying businesses, enhance access to long-term risk financing, and support enterprise scale-up, competitiveness, job creation, and technology transfer.
With a $5 million single obligor limit, the Fund is structured to catalyse high-impact investments backed by strong governance, robust risk management, and rigorous due diligence—ensuring that only viable, growth-oriented Nigerian companies benefit.
Engr. Ogbe emphasized that the partnership aligns with the implementation of NCDMB’s 10-Year Strategic Roadmap, aimed at raising local content levels, strengthening indigenous participation, and building world-class Nigerian service and manufacturing capacities.
The collaboration also reinforces Nigeria’s broader industrial development agenda under the leadership of President Bola Ahmed Tinubu, as both institutions work toward nurturing resilient, globally competitive Nigerian enterprises capable of driving sustainable economic transformation.
#NCDMB #PNC2025
