• Home
  • News
    • BREAKING!
    • Investigation
    • Media
    • Interview
    • NEWS ANALYSIS
    • PRESS RELEASE
  • Politics
  • Business
    • OIL & GAS
    • AVIATION
    • ENERGY
    • ECONOMY
    • Agriculture
  • Crime
  • Entertainment
    • MUSIC&ENTERTAINMENT
    • PEOPLE/SOCIETY/CELEBRATION
  • Sports
  • About Us
    • Contact Us
    • Mission Statement
  • More
    • INTERNATIONAL
      • AFRICA
      • DIPLOMATIC
      • FOREIGN
    • DISASTER
    • Civil Society/Human Rights
    • EDUCATION
    • Health
    • Columnist
    • ENVIRONMENT
    • Workers World
    • Judiciary
    • Guest Column
    • Opinion
    • RELIGION
    • ADVENTURE
    • HISTORY
    • DEFENCE
    • SEXUAL VIOLENCE
    • ICT
    • SUNDAY SERMON
    • OBITUARY
    • FOR THE RECORD
    • REACTION
  • Advertise on National Record
Facebook Twitter Instagram
Trending
  • The Unveiling And Epiphany Of Prof. Abubakar Sokoto Mohammed
  • May Day 2026: Workers Demand Living Wage As FG Pledges Security, Economic Reforms Amid Soaring Inflation
  • Nigerian Opposition Parties: Divided Within, Weakened By External Forces; By Ali Sabo
  • May Day 140 Years Later: Distress Calls Become More Desperate; By Owei Lakemfa
  • Africans Must Wake Up: Imperialism Is A Paper Tiger; By Jibrin Ibrahim
  • Dangote Refinery Recalls Redeployed Engineers
  • NASU, SSANU Declare Indefinite Strike Over Slow Renegotiation Of 2009 Agreement
  • Tinubu Nominates Tegbe As Power Minister
Facebook Twitter Instagram
National RecordNational Record
  • Home
  • News
    1. BREAKING!
    2. Investigation
    3. Media
    4. Interview
    5. NEWS ANALYSIS
    6. PRESS RELEASE
    Featured

    The Unveiling And Epiphany Of Prof. Abubakar Sokoto Mohammed

    By National RecordMay 2, 202609 Mins Read
    Recent

    The Unveiling And Epiphany Of Prof. Abubakar Sokoto Mohammed

    May 2, 2026

    Dangote Refinery Recalls Redeployed Engineers

    April 30, 2026

    Tinubu Nominates Tegbe As Power Minister

    April 30, 2026
  • Politics
    Featured

    Supreme Court Restores David Mark’s ADC Leadership

    By National RecordApril 30, 202603 Mins Read
    Recent

    Supreme Court Restores David Mark’s ADC Leadership

    April 30, 2026

    Turaki-Led PDP Faction Loses As Supreme Court Voids Ibadan Convention

    April 30, 2026

    Women Groups Urge NASS To Pass Special Seats Bill, End Low Representation

    April 30, 2026
  • Business
    1. OIL & GAS
    2. AVIATION
    3. ENERGY
    4. ECONOMY
    5. Agriculture
    Featured

    Dangote Cement Powers Global Sustainability Innovation At A4S 2026

    By National RecordApril 29, 202604 Mins Read
    Recent

    Dangote Cement Powers Global Sustainability Innovation At A4S 2026

    April 29, 2026

    Dangote Refinery To Employ 95,000 Skilled Workers For Expansion To 1.4m Bpd

    April 27, 2026

    Dangote Reaffirms Infrastructure, Job Creation As Catalysts For Africa’s Economic Growth

    April 21, 2026
  • Crime
    Featured

    Police Arrest Two Over Alleged Killing Of NYSC Member In Benue

    By National RecordApril 24, 202601 Min Read
    Recent

    Police Arrest Two Over Alleged Killing Of NYSC Member In Benue

    April 24, 2026

    Court Orders Arrest Of Ex-Humanitarian Minister

    April 16, 2026

    Court Remands Father Over Alleged Defilement Of 12-Year-Old Daughter

    April 16, 2026
  • Entertainment
    1. MUSIC&ENTERTAINMENT
    2. PEOPLE/SOCIETY/CELEBRATION
    Featured

     ‘Project Hail Mary’ Grosses N39m At West African Box Office Debut

    By National RecordMarch 31, 202601 Min Read
    Recent

     ‘Project Hail Mary’ Grosses N39m At West African Box Office Debut

    March 31, 2026

    Documentary Film, ‘Mothers Of Chibok’, Hits Cinemas Feb 27

    February 23, 2026

    Nollywood Blockbuster ‘Son Of The Soil’ Set For Premiere At Pan-African Film Festival

    February 4, 2026
  • Sports
    Featured

    World Cup Playoff: NFF Appeals FIFA’s Decision Favouring DR Congo

    By National RecordMarch 18, 202602 Mins Read
    Recent

    World Cup Playoff: NFF Appeals FIFA’s Decision Favouring DR Congo

    March 18, 2026

    Nigeria Fall 81-73 To Germany Despite Spirited Fight At FIBA Qualifiers

    March 18, 2026

    CAF Under Fire: Senegal Appeals ‘Unacceptable’ AFCON Ruling As Morocco Cites ‘Respect for Rules’

    March 18, 2026
  • About Us
    • Contact Us
    • Mission Statement
  • More
    • INTERNATIONAL
      • AFRICA
      • DIPLOMATIC
      • FOREIGN
    • DISASTER
    • Civil Society/Human Rights
    • EDUCATION
    • Health
    • Columnist
    • ENVIRONMENT
    • Workers World
    • Judiciary
    • Guest Column
    • Opinion
    • RELIGION
    • ADVENTURE
    • HISTORY
    • DEFENCE
    • SEXUAL VIOLENCE
    • ICT
    • SUNDAY SERMON
    • OBITUARY
    • FOR THE RECORD
    • REACTION
  • Advertise on National Record
National RecordNational Record
Home»News»POLITICS»ECONOMY»Africa Energy Bank To Enhance Funding Access For Indigenous Firms – NCDMB Executive Secretary
ECONOMY

Africa Energy Bank To Enhance Funding Access For Indigenous Firms – NCDMB Executive Secretary

National RecordBy National RecordMay 21, 2025Updated:May 21, 2025No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Reddit WhatsApp Email
Share
Facebook Twitter LinkedIn Pinterest WhatsApp Email

THE NIGERIAN Content Development and Monitoring Board (NCDMB) has announced that the forthcoming Africa Energy Bank (AEB) will significantly improve funding accessibility for indigenous companies in the oil and gas sector.

Mr. Felix Ogbe, Executive Secretary of NCDMB, made this declaration on Wednesday in Yenagoa during the fifth edition of the Nigerian Oil and Gas Opportunity Fair (NOGOF 2025).

The event, themed “Driving Investment and Production Growth: Shaping a Sustainable Oil and Gas Industry through Indigenous Capacity Development,” coincides with the 15th anniversary of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010.

Mr. Ogbe confirmed that the Africa Energy Bank, set to commence operations before the end of the second quarter of 2025 with its proposed headquarters in Abuja, is expected to bolster financial support for local enterprises.

“At NCDMB, we remain steadfast in our commitment to formulating appropriate policies, establishing funding mechanisms, and fostering partnerships to strengthen Nigerian businesses,” he stated. “I am pleased to announce that the Board, in collaboration with key stakeholders, has successfully established the Africa Energy Bank.”

The Executive Secretary urged International Oil Companies (IOCs) to proactively engage indigenous firms in compliance with statutory provisions.

He highlighted the Board’s achievements since the enactment of the NOGICD Act, noting that in-country value retention had risen from 5% in 2010 to 56% by December 2024.

“Since the NOGICD Act came into effect, we have recorded significant progress in enhancing the capabilities of Nigerian companies, attracting vital domestic investments, and improving value retention,” he remarked.

Mr. Ogbe further emphasized that President Bola Tinubu’s newly introduced “Nigeria First Policy” reinforces the Board’s mandate, describing it as a decisive step toward advancing local content.

He commended indigenous firms such as Renaissance, Seplat, and Oando for their landmark acquisitions of onshore assets from IOCs, urging continued collaboration in procurement, capacity building, and knowledge transfer.

In a related address, Mr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), underscored the importance of a stable, transparent, and predictable regulatory environment to attract both local and foreign investments. Represented by Captain John Tonlagha, Executive Commissioner for Health, Safety, Environment, and Community (HSEC), Mr. Komolafe reiterated the Commission’s commitment to fostering indigenous expertise through specialized training and vocational programmes.

“Our mission is to drive investment and production growth by empowering local talent, reducing reliance on foreign firms, and cultivating a self-sufficient industry,” he affirmed.

The event served as a platform to reinforce the sector’s dedication to sustainable development through enhanced indigenous participation. (NAN)

Follow the National Record Channel on WhatsApp

Africa Energy Bank funding access indigenous firms NCDMB Executive Secretary
National Record

Related Posts

The Unveiling And Epiphany Of Prof. Abubakar Sokoto Mohammed

May 2, 2026

Dangote Refinery Recalls Redeployed Engineers

April 30, 2026

Tinubu Nominates Tegbe As Power Minister

April 30, 2026

Leave A Reply Cancel Reply

Recent Posts
  • The Unveiling And Epiphany Of Prof. Abubakar Sokoto Mohammed
  • May Day 2026: Workers Demand Living Wage As FG Pledges Security, Economic Reforms Amid Soaring Inflation
  • Nigerian Opposition Parties: Divided Within, Weakened By External Forces; By Ali Sabo
  • May Day 140 Years Later: Distress Calls Become More Desperate; By Owei Lakemfa
  • Africans Must Wake Up: Imperialism Is A Paper Tiger; By Jibrin Ibrahim
About Us
About Us

Contest Communications Limited is a company incorporated to operate a purely ideologically progressive and working class news establishment. Registered in 2019 to bring this idea into reality, National Record, with the domain name: https://nationalrecord.com.ng/ was conceived to operate as an online news publication.

Contact Us

Contest Communications Limited

Address: 2nd Floor, Suite 21B, Dagep Plaza, Opposite Anaconda Garden and Resort, Off Karu Roundabout, Karu-Site, AMAC, Abuja-FCT.

Phone: +2348033209749

Email: Nationalrecordng@gmail.com

Facebook Twitter Instagram Pinterest
© 2026 All Right Reserved. National Record. Designed By DeedsTech.

Type above and press Enter to search. Press Esc to cancel.