The Nigerian Content Development & Monitoring Board (NCDMB) has created a new N14.6bn ($40million) fund to accelerate women’s inclusion in the oil and gas sector, the organisation’s chief executive said at a conference in Lagos on Tuesday.
Simbi Wabote, executive director, NCDMB, made this known in the ongoing Nigerian Women in Oil and Gas Conference 2022 themed: Leveraging Opportunities for Women in the Oil and Gas Industry.
“The Board is partnering with the Nigerian Export-Import (NEXIM) Bank to establish a $40 million women in energy fund.
“This in addition to the $300 million Nigerian Content intervention fund (available to both men and women) which also provides long term single digit interest rate to make funding available with the Bank of Industry (BOI).”
In 2019, the first Women in Oil and Gas Conference took place with the theme: Mainstreaming Women in the Oil and Gas Industry.
Read also: NAICOM, NCDMB seek domestication of insurance risks in oil, gas sector
The Maiden edition discussed issues and actions required to deepen the participation of women in the oil and gas sector and to leverage local content opportunities.
Today, after the pandemic, it returns to build on the success of the previous edition.
Margery Chuba-Okadigbo, Chairman, Board of Directors, NNPC Ltd, said the involvement of women in the oil and gas sector is imperative.
She urged that provision be made for women in strategic positions to breed economic growth in the country.
She said: “there is no better time to promote this forum than now, especially with the passage of the Petroleum Industry Act (PIA).
On the other side, the Minister of State for Petroleum Resources, in an interview claimed women are already involved in the sector.
Timipre Sylva said: “what we are doing here is sensitise and galvanise to get more women involved.
“I can assure you that there are enough provisions in the Nigerian Oil and Gas Industry Content (NOGIC) Act and the PIA to encourage the participation of women,” Sylva said.
Meanwhile, the NCDMB said it is dedicated to changing the narrative and providing women with more opportunities, increased participation, and recognition in the oil and gas industry.
