The Nigerian Content Development and Monitoring Board (NCDMB) and the Nigerian Export-Import Bank (NEXIM) have announced that they have given $42 million to SMEs to improve indigenous capacity and competitiveness, a move that demonstrates Nigeria’s dedication to boosting local participation in the oil and gas industry. The initiative is in line with the objectives of the upcoming Practical Nigerian Content (PNC) Forum 2025, which is set to take place from December 1-4 at the Nigerian Content Tower in Yenagoa. The theme of the forum is “Securing Investments, Strengthening Local Content, and Scaling Energy Production.” The agencies stated that the amount exceeded the initial $30 million fund.
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