Blessing Bello, Reporting
THE Nigerian Content Development and Monitoring Board (NCDMB) and the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) have begun discussions on a strategic collaboration aimed at expanding women’s participation in Nigeria’s oil and gas industry — particularly through improved access to a $40 million financing facility established for women-owned and women-led businesses.
In a press release signed by Dr Obinna Ezeobi, General Manager, Corporate Division, the proposed partnership is expected to address barriers limiting women’s access to funding, strengthen their business capacity and create more opportunities for female entrepreneurs and professionals across the oil and gas value chain.
The initiative was discussed on Thursday when the UN Women Country Representative to Nigeria and the Economic Community of West African States (ECOWAS), Ms Beatrice Eyong, led a delegation to the NCDMB liaison office in Abuja.
The delegation was received by Dr Ezeobi, who represented the Executive Secretary, Engr Felix Omatsola Ogbe. At the meeting, both organisations explored areas of possible collaboration, including capacity-building programmes for NCDMB personnel to integrate gender considerations into project planning, budgeting and implementation.
They also discussed vendor development initiatives to strengthen the capacity of women-owned businesses, improve awareness of available financing opportunities and introduce possible affirmative procurement measures to increase the participation of female-owned companies in the industry.
The $40 million Women in Oil and Gas Fund was established in April 2021, following NCDMB’s commitment of $20 million to support women-owned and women-led businesses in the sector. The Nigerian Export-Import Bank (NEXIM) subsequently matched the Board’s contribution with an additional $20 million, bringing the total facility to $40 million.
However, despite the substantial financial commitment and favourable lending conditions, including an interest rate of five per cent, access to the facility by eligible businesses has remained below expectations.
Ms Eyong commended NCDMB for its efforts to promote gender inclusion in the oil and gas industry, noting that several of the Board’s existing interventions align with UN Women’s objectives of advancing women’s economic empowerment and leadership.
She proposed a comprehensive study to identify the factors responsible for the low uptake of the financing facility, particularly challenges relating to documentation, business registration, tax compliance and inadequate awareness of the funding opportunities.
The UN Women representative also highlighted the organisation’s ongoing programmes on women’s economic empowerment, leadership development and the elimination of gender-based violence, expressing interest in exploring areas where both institutions could work together.
Responding, Dr Ezeobi reaffirmed NCDMB’s commitment to partnering with UN Women, stressing that the Board had introduced several initiatives to promote women’s participation, enterprise development and leadership in the Nigerian oil and gas industry.
He identified the dedicated financing arrangement with NEXIM Bank, which provides women-owned and women-led businesses access to loans at a competitive five per cent interest rate, as one of the Board’s major interventions.
According to him, NCDMB has also established a Diversity Sectoral Working Group under the Nigerian Content Consultative Forum (NCCF) to ensure that gender-related concerns are integrated into local content policies and industry decision-making.
He added that the Board supports associations of women operating across different segments of the energy industry, providing platforms for networking, professional development, confidence building and the creation of business opportunities.
Dr Ezeobi further disclosed that NCDMB had invested in capacity-building programmes for women entrepreneurs and business leaders, with training covering business sustainability, corporate governance and strategic management.
He said the Board was also encouraging women’s participation in technical professions and promoting science, technology, engineering and mathematics (STEM) education among young girls to prepare them for careers in the energy industry.
The NCDMB spokesman, however, acknowledged that women remained underrepresented in the oil and gas sector, attributing the situation to limited access to technical education, financing and commercial opportunities, as well as longstanding perceptions that the industry was predominantly male-dominated.
He expressed the Board’s readiness to deepen its collaboration with UN Women, noting that a strategic partnership would help tackle these challenges, improve access to opportunities and accelerate gender inclusion across the oil and gas value chain.
