The Nigerian Content Development and Monitoring Board (NCDMB) has reminded operators, contractors, and service companies in Nigeria’s upstream oil and gas sector of their statutory obligation to remit a one per cent Nigerian Content Development Fund (NCDF) levy into accounts officially designated by the Board.
Executive Secretary Felix Omatsola Ogbe stated that the levy, calculated on the value of every upstream contract, is exclusively managed by NCDMB.
“Funds generated under NCDF support indigenous contractors, finance capacity development and training, provide access to affordable financing, and drive sustainable growth across the oil and gas value chain,” he said.
Ogbe clarified that the NCDF is a ring-fenced statutory fund established by an Act of the National Assembly and is not classified as Federal Government revenue. Its collection and administration are governed under Section 104 of the Act. He warned that payments made outside the Board’s designated accounts will not be legally recognised.
The Executive Secretary urged strict compliance and advised companies to consult NCDMB for clarifications before remitting funds, emphasizing the Board’s commitment to transparency, accountability, and effective utilisation of the fund.
In addition, NCDMB announced that obtaining the Nigerian Content Development Fund Compliance Certificate (NCFCC) is now mandatory for accessing the Board’s regulatory services and approvals. Companies without a valid NCDF Compliance Certificate will be denied regulatory documents, certifications, and clearances.
