NCDMB Commence Disbursement of $40m Women in Energy Fund

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Nigerian Content Development and Monitoring Board (NCDMB) has commenced consideration of applications for the disbursement of the $40million Women in Energy fund endowed in partnership with the Nigerian Export Import Bank.

Already the Board has approved three applications while 12 others are undergoing consideration.
Executive secretary of Nigerian Content Development and Monitoring Board, Engr. Simbi Wabote dropped the hint on the sidelines of the just concluded 2nd Nigerian Women in Oil and Gas Conference, held in Lagos.

According to him, the Board has set aside a minimum percentage of females that must be included in any human capacity development (HCD) programme or any other initiative that it will approve for the Nigerian oil and gas industry.

He said the Board has worked out the policy and would communicate it to the oil and gas industry very soon.

The conference was organised by the NCDMB in partnership with the Diversity Sectorial Working Group of the Nigerian Content Consultative Forum (NCCF), which was set up by the NCDMB to advise it on policy directions.

Further on the $40million Women in Energy Fund, the NCDMB said it has set up an online portal for the fund which was launched two weeks ago.

The online portal is designed to speed up the process and ease of application and processing, and in the process reduce human interface in the fund access.

He commended the performance of women in various roles in the oil and gas industry and canvassed for their inclusion in the administration of the various trusts and funds that were established by the Petroleum Industry Act (PIA) 2021, notably the Host Community Development Trust, Host Community Development Trust Fund and Environmental Remediation Fund.


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