NCDMB takes oil and gas compliance online to speed up funding
The new digital portal is designed to cut certificate processing times, improve regulatory visibility and make it easier for indigenous businesses to access financing.
For oil and gas companies, a compliance certificate can be more than a regulatory document. It can determine how quickly a company completes a process and, in some cases, how soon it can access funding.
That is the process the Nigerian Content Development and Monitoring Board (NCDMB) is taking online with the launch of a new Nigerian Content Fund Compliance Certificate Portal in Uyo, Akwa Ibom State.
The portal was unveiled on Wednesday during a stakeholder sensitisation programme organised with the Bank of Industry (BOI) and NEXIM Bank. The event brought together industry stakeholders from Akwa Ibom and Cross River states and also featured technical sessions and an interactive panel discussion.
The programme focused on the upgraded Nigerian Content Fund Payment Portal, the Compliance Certificate System and the revised Community Scheme.
Representing NCDMB Executive Secretary Felix Ogbe, Manager, Nigerian Content Development Fund, Emmanuel Yusuf, said the digital platform was introduced in response to delays associated with the previous manual compliance process.
Ogbe said the old system could leave companies waiting for weeks for compliance confirmation, affecting project approvals and creating uncertainty for businesses and regulators.
The new platform is expected to allow companies to apply online, monitor applications and enable regulators to verify compliance digitally.
“It is with immense pride that we gather today for the official unveiling of the Nigerian Content Fund Compliance Certificate Portal, a bold step towards ensuring efficiency, transparency, and global competitiveness in Nigeria’s oil and gas industry,” Ogbe said.
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He said the portal would reduce certificate processing time from weeks to days, eliminate the need for physical visits and paperwork, provide status updates and create a central digital record for compliance verification.
“By digitising the process, the portal enhances access to the Fund. Companies that meet obligations can now obtain certificates quickly, unlock financing opportunities without delay, and channel resources into projects that create jobs, build capacity, and strengthen Nigeria’s oil and gas value chain,” he said.
The change could be particularly relevant to indigenous operators and contractors seeking access to the Nigerian Content Development Fund.
The Nigerian Oil and Gas Industry Content Development Act requires one percent of every contract awarded to be deducted at source and paid into the Fund. The compliance certificate provides evidence that the required obligation has been met and serves as a gateway to accessing the Fund.
Ogbe said the digital system would provide different benefits across the industry.
“For operators and contractors, it means faster access to funding. For regulators, stronger oversight and improved data collation. For investors, it is a source of increased confidence. And for Nigeria, a more efficient system that ensures the Fund continues to drive measurable impact,” he said.
The Board is also relying on adoption by companies and other stakeholders for the platform to deliver those benefits.
“As we unveil this platform today, we send a clear message: That Nigeria is ready. That our systems are evolving. And that our oil and gas industry is becoming more efficient, transparent, and competitive on the global stage,” Ogbe said.
“I encourage all stakeholders to embrace this platform, because its success depends not just on its design, but on our collective adoption and engagement.”
The financing side of the initiative also featured prominently at the event.
BOI and NEXIM Bank pledged support for NCDMB’s vendors and operations, while BOI representative Olamide Oladele highlighted financing opportunities available to indigenous businesses operating in the oil and gas sector.
“With the launch of the new portal, the bank is ready to provide finances to support businesses in the oil and gas industry,” Oladele said.
The portal therefore places compliance, regulation and financing closer together in one digital process, with the NCDMB seeking to reduce administrative delays while giving Nigerian oil and gas businesses a faster route from meeting their obligations to accessing opportunities within the sector.
