The Nigerian Content Development Monitoring Board (NCDMB) has voted the sum of $40million intervention fund for the purpose addressing the challenge of funding for women participation in the oil and gas industry.
Executive secretary of the NCDMB, Engr. Simbi Wabote, who confirmed that the fund is equally supported by the Nigerian Export Import (NEXIM) bank, also stated that the Board has no gender bias in its considerations.
Wabote delivered the keynote address yesterday during the Oil and Gas Trainers Association of Nigeria (OGTAN) second Annual General Meeting/Lecture Series held yesterday in Abuja. The theme of the meeting was: “Diversity & inclusiveness in human capital development.”
He explained that one of the challenges of the participation of women in the oil and gas is the challenge of access to funding. He stated that it was in the bid to address this challenge that the board established the Nigerian Content Intervention Fund.
He confirmed that the $40m fund was pooled equally by NEXIM bank and NCDMB. “The board partnered with NEXIM bank to establish a $20million fund that was matched with additional $20million by NEXIM bank to provide better fund, bringing the funds available to women in oil and gas industry to $40million,” Wabote said.
In his virtual message, the NCDMB boss informed that activities in the board are all-inclusive, stressing that it provides genders equal opportunities.
“At the NCDMB there is no gender bias as it is all inclusive and provides equal opportunities for applicants and beneficiaries.
“The Board has also initiated and executed other interventions to promote diversity and inclusiveness. These interventions are done in partnership with the Bank of Industry, while others are facilitated by the NEXIM bank.
He noted that the Board has organised several events targeted at women and the community to promote women inclusiveness. The local content boss pledged that the Board will continue to promote human capacity development across various spheres of the energy sector.