The Federal Government, through the Nigerian Content Development and Monitoring Board, has announced the imminent launch of the Nigerian Content Equity Fund.
The board said this is a financing initiative designed to provide long-term risk capital to support Nigerian oil and gas companies operating in high-value and high-impact sectors.
The announcement was made on Thursday at the NCDMB Towers, Yenagoa, Bayelsa State, during an event organised by Tamrose Limited and the local content board to celebrate the repayment of a $10m loan obtained by Tamrose under the Nigerian Content Intervention Fund.
The Executive Secretary of the NCDMB, Felix Ogbe, who was represented at the event by the General Manager, Human Capacity Development, NCDMB, Esueme Kikile, stated that a new equity fund would be launched in December.
“We will continue to expand our activities to strengthen our role in renewables, expand the new economy, and build a strong industrial base that is powered by Nigerian talent, Nigerian capital, and Nigerian innovation.”
