NCDMB and UN Women Team Up to Boost Women's Involvement in Oil and Gas

The Nigerian Content Development and Monitoring Board (NCDMB) is working with the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) to increase women's roles in the oil and gas industry. They want to make it easier for women to access the $40 million Women in Oil and Gas Fund. This will help more women-owned businesses and professionals take advantage of opportunities in the sector.

In April 2021, NCDMB set up a $20 million fund to support businesses owned or led by women in the oil and gas field. The Nigerian Export-Import Bank (NEXIM) added another $20 million to this fund. Even with this support and good loan terms, not enough women have taken advantage of this scheme.

On Thursday, Ms. Beatrice Eyong, UN Women’s Country Representative to Nigeria and ECOWAS, visited NCDMB’s office in Abuja. She was welcomed by Dr. Obinna Ezeobi, the Board’s General Manager of Corporate Communications, on behalf of Felix Omatsola Ogbe, the Executive Secretary.

The meeting looked at plans to train NCDMB staff on how to include gender perspectives in their project planning and budgeting. They also discussed creating programs to support women-led businesses in the oil and gas sector. Other topics included raising awareness about financing options and possible affirmative procurement measures to enhance the presence of women-owned companies in the industry.

Ms. Eyong praised NCDMB for its efforts to include women. She said the Board is already taking steps that align with its goals. She suggested a study to find out why women struggle to access the financing facility. This could include issues related to documentation, business registration, tax compliance, and lack of awareness. She also mentioned initiatives by the UN Office focused on women’s economic empowerment, leadership development, and fighting gender-based violence.

Dr. Ezeobi welcomed these suggestions. He said NCDMB is ready to work with UN Women. He highlighted some innovative programs already in place to help women in Nigeria’s oil and gas sector.

These programs include a funding scheme with NEXIM Bank that offers financing to women-led firms at a competitive 5% interest rate. There is also a Diversity Sectoral Working Group within the Nigerian Content Consultative Forum (NCCF) to ensure women’s issues are included in local content policies and decisions. The Board supports women associations in the Energy Industry, allowing them to network and build confidence in advancing their careers or businesses.

Ezeobi mentioned that NCDMB is investing in training for women entrepreneurs and business leaders. This training covers important topics like business sustainability, corporate governance, and strategic management. The Board also promotes women’s involvement in technical jobs and encourages young girls to consider careers in science, technology, engineering, and mathematics (STEM).

He pointed out that women are still underrepresented in the oil and gas industry. This is due to limited access to technical education, finance, and business opportunities, along with long-held views that the sector is mainly for men.

Ezeobi confirmed NCDMB’s commitment to work with UN Women. He proposed ways to speed up the Board’s support for UN Women’s programs, which will help improve gender inclusion in the industry.