This week, Nigeria announced a series initiatives to increase the share of local content in its sector energetic.

For several years, the question of content local is considered by many actors to be an essential lever for capture more benefits from extractive industries While the channels Supply chains are being reconfigured, Nigeria is accelerating its efforts to structure a local offer capable of meeting the technical needs of sound oil and gas sector. For this, Nigeria has just created a fund of 100 millions of dollars to support local businesses active in the oil and gas. This new fund was launched by the agency in charge of local content development (NCDMB), in partnership with the Bank of Industry (WOOD).

The fund will be used to invest directly in Nigerian companies with high potential, which aim to develop but often struggle to obtain the capital needed to participate in major industry projects.

According to the director general of the bank, Olasupo Olusi, “this collaboration [with NCDMB, editor's note] marks an important extension of our long-standing partnership. Through the investment program [...], the BOI will use instruments from equity and semi-equity financing to support Nigerian companies with high potential, in addition to financing traditional through debt and by facilitating access to long-term risky capital term, essential for their growth, competitiveness and the creation of value”.