The Nigerian Content Development and Monitoring Board (NCDMB) is exploring a partnership with UN Women to increase women’s participation in Nigeria’s oil and gas industry, with a focus on improving access to funding, business opportunities and professional development. The initiative will also seek to address barriers preventing women-owned businesses from benefiting fully from the sector’s available opportunities.
The proposed collaboration places particular emphasis on expanding access to the $40 million Women in Oil and Gas Fund, which was established to support women-owned and women-led businesses operating within the industry.
In April 2021, the NCDMB established a $20 million fund to provide financial support to women-owned and women-led businesses in the oil and gas sector. The Nigerian Export-Import Bank (NEXIM) subsequently matched the amount with an additional $20 million, bringing the total funding to $40 million.
Follow PenTalk News
Get breaking news, important updates and the latest stories directly on your phone.
However, despite the availability of the facility and its favourable loan terms, participation in the scheme has remained below expectations, prompting renewed efforts to identify and address the challenges limiting access.
NCDMB, UN Women Discuss Strategies for Gender Inclusion
The proposed partnership was discussed on Thursday when UN Women Country Representative to Nigeria and the Economic Community of West African States (ECOWAS), Beatrice Eyong, led a delegation to the NCDMB liaison office in Abuja.
The delegation was received by the Board’s General Manager of Corporate Communications, Dr. Obinna Ezeobi, who represented the Executive Secretary, Engr. Felix Omatsola Ogbe.
During the meeting, both organisations explored capacity-building programmes for NCDMB personnel to strengthen the integration of gender considerations into project planning, budgeting and implementation.
They also discussed vendor development initiatives to prepare women-led businesses for more opportunities in the oil and gas industry, alongside awareness campaigns to improve knowledge of available financing schemes.
Another key area of discussion was the possibility of introducing affirmative procurement measures to increase the participation of women-owned businesses across the industry’s value chain.
Eyong commended the NCDMB for its existing gender inclusion initiatives, noting that several of the Board’s programmes align with its efforts to promote women’s economic empowerment.
She also proposed a study to determine why women-owned businesses have struggled to access the $40 million financing facility.
According to the discussions, the study could examine challenges associated with documentation, business registration, tax compliance and inadequate awareness of the funding opportunities.
Eyong further highlighted UN Women’s ongoing programmes in women’s economic empowerment, leadership development and the elimination of gender-based violence.
### NCDMB Highlights Support for Women-Owned Businesses
Responding to the proposals, Ezeobi welcomed the planned collaboration and reaffirmed the Board’s willingness to work with UN Women to expand women’s participation in the oil and gas industry.
He highlighted the funding arrangement established in partnership with NEXIM Bank, which allows eligible women-owned and women-led businesses to access loans at a competitive interest rate of five per cent.
Ezeobi also pointed to the establishment of a Diversity Sectoral Working Group under the Nigerian Content Consultative Forum (NCCF), which seeks to integrate women’s concerns into local content policies and industry decision-making.
He explained that the Board supports associations of women working across the energy industry’s value chain, providing opportunities for networking, professional development and business growth.
According to him, these initiatives are designed to help women build confidence, strengthen professional relationships and improve their ability to compete for opportunities within the sector.
### Capacity Building and STEM Education
The NCDMB has also invested in capacity-building programmes for women entrepreneurs and business leaders, focusing on business sustainability, corporate governance and strategic management.
The Board has supported women’s participation in technical occupations and encouraged young girls to pursue careers in science, technology, engineering and mathematics (STEM).
Despite these efforts, Ezeobi acknowledged that women remain underrepresented in Nigeria’s oil and gas industry.
He identified limited access to technical education, financing and commercial opportunities, as well as long-standing perceptions of the sector as predominantly male, among the challenges affecting women’s participation.
The NCDMB reaffirmed its commitment to collaborating with UN Women to address these barriers and strengthen existing programmes aimed at promoting gender inclusion.
The proposed partnership is expected to support efforts to improve women’s access to finance, develop their business capabilities and create more opportunities for women-owned enterprises across Nigeria’s oil and gas value chain.
By addressing the factors limiting access to funding and industry opportunities, both organisations hope to encourage greater participation of women in a sector that remains vital to Nigeria’s economy.
