Sharon IKECHUKWU
The Nigerian Content Development and Monitoring Board (NCDMB) and UN Women are exploring ways to increase women’s participation in Nigeria’s oil and gas industry, especially by improving their access to a $40 million funding scheme.
The fund was established in April 2021, with NCDMB providing $20 million and the Nigerian Export-Import Bank (NEXIM) adding another $20 million. However, fewer women have accessed the fund than expected despite its favourable loan terms.
The development was discussed on Thursday when UN Women’s Country Representative to Nigeria and the Economic Community of West African States (ECOWAS), Beatrice Eyong, led a delegation to NCDMB’s Abuja liaison office.
The delegation was received by the Board’s General Manager of Corporate Communications, Dr Obinna Ezeobi, on behalf of the Executive Secretary, Felix Omatsola Ogbe.
The meeting discussed training programmes for NCDMB staff, support for women-owned businesses, awareness of available loans and measures to increase women’s participation in the oil and gas industry.
Eyong praised NCDMB for its efforts to promote women’s participation in the industry. She also proposed a study to find out why women were finding it difficult to access the funding scheme.
She listed possible challenges, including documentation, business registration, tax requirements and lack of awareness.
She also spoke about UN Women’s programmes on women’s economic empowerment, leadership development and the prevention of gender-based violence.
Ezeobi welcomed the proposals and said the Board was ready to work with UN Women.
He said NCDMB had established a funding scheme with NEXIM Bank to help women-owned and women-led businesses access loans at an interest rate of five per cent.
He also said the Board had established a Diversity Sectoral Working Group within the Nigerian Content Consultative Forum (NCCF) to include women’s issues in local content policies and decisions.
Ezeobi added that the Board supports associations of women working in the energy industry by providing opportunities for networking, career development and business growth.
He said NCDMB had also organised training programmes for women entrepreneurs and business leaders in business sustainability, corporate governance and strategic management.
According to him, the Board also supports women in technical jobs and encourages young girls to study science, technology, engineering and mathematics (STEM).
Ezeobi identified limited access to technical education, finance and business opportunities, as well as the belief that oil and gas is mainly a male-dominated industry, as some of the challenges facing women.
He reaffirmed the Board’s willingness to work with UN Women to address these challenges and increase women’s participation in the industry.
