The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Omoshola Ogbe, has said the board had floated a $40 million Women in Oil and Gas Intervention Fund in partnership with the Nigerian Export-Import Bank (NEXIM).
He said the fund aims to empower women-led businesses and increase gender diversity in the nation’s oil and gas sector.
Ogbe announced the establishment of the fund at a meeting on strengthening partnership between the NCDMB and the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Orji Ogbonnaya Orji.
A statement yesterday in Abuja by NEITI said the Women in Oil and Gas Intervention Fund specifically targets businesses where women hold a minimum of 51 per cent ownership and occupy significant roles within management.
Ogbe outlined the eligibility criteria for accessing the fund, including 51 per cent women shareholding in the company; a minimum of 50 per cent of management positions held by women; companies with female CEOs and at least 40 per cent female representation in management.
