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Companies in the oil and gas sector that are registered with the NCDMB (Nigerian Content Development and Monitoring Board) have opportunities to participate in the Nigeria Content Intervention Fund.

The Nigeria Content Development and Monitoring Board (NCDMB) in conjunction with the Bank of Industry (BOI) has made available a pool of funds to the tune of $300 million to be disbursed to eligible oil and gas services companies registered with the NCDMB and have contributed to the Nigerian Content Development Fund (NCDF).

To achieve this, the NCDMB went ahead to create the Nigerian Content Intervention Fund (NCIF) to be managed by the Bank of Industry Limited (BOI) which is designed to fulfil the following strategic objectives:

  • To increase indigenous participation in the oil and gas industry in order to build local capacity and competence.
  • To promote the growth and development of Nigeria content in activities connected with sectors of the Nigerian oil and gas industry.
  • To deepen the creation of linkages to other sectors of the national economy and boost industry contribution to the growth of Nigeria’s National Gross Domestic Product.
  • To address persistent funding challenges that have hindered the capacity and growth of local service providers in the oil and gas sector.
  • To facilitate the growth of community-based companies in the upstream oil and gas sector.
  • To spur productivity and job creation in the oil and gas industry.
  • To attract investment capital into the sector and boost the contribution of the sector to Nigeria’s economic growth.


Single Obligor Limit: US$10 Million (Ten Million US Dollars) or equivalent in Naira at the official exchange rate subsisting on the day of disbursement unless otherwise reviewed in writing by NCDMB for Manufacturing Loan, Asset Acquisition Loan and Loan Refinancing Facilities. / Contract Finance Facility – up to a maximum of US$5 Million / Community Contractors finance Scheme up to a maximum of ₦20 Million Naira

Tenor: Maximum of 5 Years but tied to the payment tenor of the contract

Moratorium: Six (6) to twelve (12) months on all products apart from loan refinancing facility

Pricing/Charges: Interest Rate: 8% p.a. This rate shall accrue to the Fund and shall be subject to joint review by NCDMB and BOI from time to time

Security: Any or a combination of: Bank Guarantees from the Eligible Banks as approved by BOI / Treasury Bills or Federal Government Bonds


To be eligible for this facility the following conditions must be met:

  • The business must be incorporated/registered with the CAC.
  • The business must be operating within the upstream/midstream sector of the oil and gas industry.
  • The company’s operational base must be in the oil and gas-producing communities.
  • The company should possess a minimum of 6 months valid contract with any of the international oil and gas companies(IOCs) or indigenous companies.
  • The business must possess the required permit from oil and gas industry regulators such as NCDMB, DPR and Nipex (where applicable) to operate in the oil and gas industry.
  • The company must have a contract award confirmation letter from the contracting entity.
  • The company must also have a local community development agreement (CDA)



  1.  Formal Loan Application on Letterhead
  2. Duly completed Loan Application Form
  3. Feasibility Study Report on the project to be financed stating write-up on technology and manufacturing process(s), etc.
  4. Quotation/Proforma Invoice for the supply of items of Machinery and Equipment. Sources and quotations for Raw Materials expressed in quantity and amount
  5. Security: Bank Guarantee, a letter of intent for Bank Guarantee (with Risk Management being part of the authorized signatories) of the commercial bank issuing the guarantee. Any exception should be supported with the Bank’s approval limits OR

Legal Mortgage

Photocopy of the title document(s) to the property being pledged e.g Statutory Certificate of Occupancy/Deed of Assignment/Conveyance/Deed of sublease

  1. Valuation Report on the Property Proposed as Security from BOI’s accredited value

Lease agreement, if operating from a rented premises

  1. A copy of the draft Technical, Management, Machinery Supply and/or Joint Venture Agreement (where applicable)
  2. Three years’ Audited Financial Accounts and most recent Management Account from a BOI accredited auditors (for an existing business) OR Statement of Affairs (for business less than one (1) year)
  3. Company’s Bank Statement for a period of one (1) year

If loan is approved, the next and last part of the process is disbursement. Before disbursement can begin, the documents below must be submitted:


The following should be provided to fulfill disbursement:

  • Submission of Letter of Offer duly endorsed by a Director and Company Secretary or two (2) Directors
  • Letter of acceptance of Offer and Letter showing specimen signature of the authorized signatory
  • Board Resolution authorizing borrowing
  • Return of duly executed Loan Agreement
  • Evidence of payment of fees (if applicable – appraisal, commitment and legal fees)
  • Letter of Attestation
  • Original proforma invoice(s) for the approved item
  • Four (4) Passport photographs of the Chief Promoter and a Director
  • Evidence of filing of Annual Returns, as well as tax clearance certificate -TCC- for the Company, the Chief Promoter and Directors of the Company. Evidence of payment (eTCC) should be accepted for deferral
  • Submission of Bank Guarantee or title documents/other legal documents e.g. Statutory Certificate of Occupancy of the pledged property, ground rent receipts etc.
  • Letter of undertaking to pay interest during moratorium

We support companies with the processing and submission of applications.





08023200801; 08062532219

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