The Nigerian Content Development and Monitoring Board (NCDMB) and UN Women are seeking to boost women's participation in Nigeria's oil and gas industry. A delegation from UN Women, led by Country Representative to Nigeria and ECOWAS, Beatrice Eyong, recently met with NCDMB officials in Abuja to discuss the initiative. The meeting aimed to improve access to a $40 million financing facility for women-owned and women-led businesses in the industry.
The financing facility, established in April 2021, consists of $20 million from the NCDMB and a matching $20 million contribution from the Nigerian Export-Import Bank (NEXIM). Despite offering loans at a competitive five per cent interest rate, uptake has been below expectations. The NCDMB and UN Women are working to identify barriers preventing women from accessing the facility, including documentation requirements, business registration, tax compliance, and limited awareness.
Discussions between the two organizations centred on strategies to increase women's participation in the oil and gas industry. The proposed collaboration will explore capacity-building programmes, vendor development, improved access to industry opportunities, and affirmative procurement measures for women-owned businesses.
UN Women’s Country Representative to Nigeria and ECOWAS, Beatrice Eyong, commended the NCDMB's existing gender inclusion efforts. The NCDMB has made significant strides in promoting gender diversity in the industry, and the partnership with UN Women aims to build on these efforts.
The Nigerian oil and gas industry has long been male-dominated, with women facing significant barriers to entry and advancement. The NCDMB and UN Women's initiative aims to address these challenges and create more opportunities for women to participate in the industry.
The partnership between the NCDMB and UN Women is expected to have a positive impact on the industry, promoting diversity and inclusion. The initiative will also contribute to the growth and development of the Nigerian economy, which is heavily reliant on the oil and gas sector.
The NCDMB and UN Women's efforts to increase women's participation in the oil and gas industry are in line with global best practices. The initiative is expected to serve as a model for other industries in Nigeria and beyond, promoting diversity and inclusion in the workplace.
Key points
- The NCDMB and UN Women are exploring ways to increase women's participation in Nigeria's oil and gas industry.
- The initiative aims to improve access to a $40 million financing facility for women-owned and women-led businesses.
- The partnership will promote diversity and inclusion in the industry, contributing to the growth and development of the Nigerian economy.
