Demand by women group to have more space in the energy industry is bearing fruit as the Nigerian Content Development and Monitoring Board (NCDMB) has announced an expanded intervention for financing scheme for women in the oil and gas sector as part of efforts to deepen inclusion and bridge the gender financing gap within the industry.
The executive secretary (ES) of the NCDMB, Felix Omatsola Ogbe, disclosed this in his address at the third edition of the Diversity Sectorial Working Group Annual Women in Oil and Gas Conference.
The ES, says women’s empowerment is central the Board’s capacity development mandate, noting that access to skills must be matched with access to capital for meaningful participation in the energy value chain.
“Recognising that skills alone are not enough without access to capital, NCDMB established the Women in Oil and Gas Intervention Fund, in partnership with the Bank of Industry. This landmark initiative was designed specifically to support female entrepreneurs in the oil and gas sector by providing access to affordable financing and business expansion support,” he said.
According to him, the intervention had enabled women-owned businesses to procure equipment, expand operations and participate more actively in activities across the oil and gas value chain.
Ogbe, said, beneficiaries of the scheme cut across logistics and marine services, safety equipment supply and environmental management services, adding, “This fund is helping to close the gender financing gap and enabling women to transition from participants to owners and leaders within the industry,” Ogbe stated.
The NCDMB boss stressed that women’s empowerment forms a core pillar of the board’s capacity development strategy under the Nigerian Oil and Gas Industry Content Development Act.
Beyond financing, he said the board had also initiated targeted programmes to strengthen the business and technical capabilities of women entrepreneurs through vendor development schemes.
“Through our collaboration with the Nigerian Content Intervention Fund and financial institutions, women-owned companies have received business training and access to financing,” he added.
The NCDMB ES, disclosed that the board had prioritised the acquisition of technical skills for women through partnerships with training institutions, including the Petroleum Training Institute and other accredited centres.
SOURCE: LEADERSHIP NEWSPAPER
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