The Nigerian Content Development and Monitoriong Board (NCDMB) and Nigerian Export Import Bank (NEXIM) have disbursed about $42 million to Small and Medium Enterprises (SMEs) to boost their participation in the oil and gas sector.
The Head, Specialised Business at NEXIM, Muhammed Awami, disclosed this at the NCDMB stakeholders’ sensitisation and engagement forum in Port Harcourt, Rivers State, yesterday.
He said that although the working capital of the capacity fund is $30 million, they have exceeded the amount in order to attract more Nigerian players in oil and gas sector.
The programme themed; “Deepening Local Content through Certification, Compliance and Financing Support” brought together key players in the oil and gas industry to discuss the involvement of Nigerian players.
Awami appealed to the duly registered Nigerian oil service providers with viable contract with International Oil Companies (IOCs) and National Oil Companies (NOCs) to take advantage of the NCDMB working capital and capacity fund, managed by NEXIM bank.
He said the fund offers flexible financing and tailoring solutions to meet their business needs, and catalyse business growth, help to access markets, expand global footprint and unlock new opportunities.
