NCDMB, UN Women target barriers limiting women’s access to US$40m oil and gas fund
The proposed partnership will examine barriers to the US$40 million fund while exploring better access to financing, industry contracts and professional development for women.
The Nigerian Content Development and Monitoring Board (NCDMB) and the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) are exploring ways to improve women’s access to funding, business opportunities and professional development in Nigeria’s oil and gas industry, with particular attention to a US$40 million financing scheme established to support women-owned and women-led businesses.
Although the fund was designed to help more women participate in the sector, its uptake has remained below expectations. The two organisations are now considering measures to understand what is preventing eligible businesses from accessing the facility and how more women can be positioned to benefit from opportunities across the oil and gas value chain.
The discussions took place on Thursday when UN Women’s Country Representative to Nigeria and the Economic Community of West African States (ECOWAS), Ms. Beatrice Eyong, led a delegation to NCDMB’s Abuja liaison office. The delegation was received by the Board’s General Manager of Corporate Communications, Dr. Obinna Ezeobi, on behalf of the Executive Secretary, Engr. Felix Omatsola Ogbe.
Established in April 2021, the Women in Oil and Gas Fund began with a US$20 million commitment from NCDMB to support women-owned and women-led businesses in the industry. The Nigerian Export-Import Bank (NEXIM) subsequently matched the amount with another US$20 million, bringing the total facility to US$40 million. The scheme offers financing at a competitive interest rate of 5%, but access to the available funds has not met expectations.
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During the meeting, Eyong proposed a study to establish why more women-owned businesses have not been able to access the financing. The assessment would examine possible challenges involving business documentation, registration, tax compliance and awareness of the facility. Identifying these obstacles, she noted, would help both organisations develop more effective ways to connect women entrepreneurs with available support.
The discussions also covered capacity-building programmes for NCDMB personnel to strengthen the integration of gender considerations into the Board’s project planning, budgeting and implementation processes. Other areas explored included vendor development initiatives to prepare women-led businesses for opportunities in the oil and gas industry, increased awareness of financing options and possible affirmative procurement measures to encourage greater participation by women-owned companies.
Eyong commended NCDMB for its existing gender inclusion efforts and acknowledged the measures the Board had introduced in line with its mandate. She also highlighted UN Women’s work in Nigeria, including programmes focused on women’s economic empowerment, leadership development and the elimination of gender-based violence.
Responding, Ezeobi welcomed the proposed areas of collaboration and reaffirmed NCDMB’s readiness to work with UN Women to expand women’s participation in the industry. He outlined several initiatives through which the Board has been working to improve access to finance, strengthen professional networks and create opportunities for women to develop their businesses and careers.
Beyond the financing arrangement with NEXIM, NCDMB has established a Diversity Sectoral Working Group within the Nigerian Content Consultative Forum (NCCF). The group is intended to ensure that women’s concerns and participation are considered in local content policy discussions and industry decision-making.
The Board also supports associations of women working across the energy industry value chain, providing opportunities for members to network, build professional confidence and establish connections that can support their careers and businesses.
Ezeobi further highlighted NCDMB’s investment in capacity-building programmes for women entrepreneurs and business leaders. These initiatives cover areas such as business sustainability, corporate governance and strategic management, equipping participants with skills to manage and grow their enterprises.
The Board has also supported women’s participation in technical occupations and encouraged young girls to pursue careers in science, technology, engineering and mathematics (STEM), recognising the importance of building a stronger pipeline of female talent for the industry.
However, Ezeobi acknowledged that women remain underrepresented in Nigeria’s oil and gas sector. He identified limited access to technical education, financing and commercial opportunities, alongside long-standing perceptions of the industry as a predominantly male space, as factors contributing to the gap.
He reiterated the Board’s willingness to collaborate with UN Women and recommended strategies to accelerate NCDMB’s support for the organisation’s programmes. The proposed collaboration is expected to build on existing interventions while addressing practical barriers that prevent women from securing financing, entering industry supply chains and progressing into leadership and technical roles.
The discussions place renewed attention on the need to translate funding commitments and inclusion programmes into greater access to actual business and professional opportunities for women across Nigeria’s oil and gas industry.
