Easing access to the dedicated $40 million Women in Oil and Gas Fund is the focus of ongoing strategic conversation between the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women), and the Nigerian Content Development and Monitoring Board (NCDMB).

Biztellers reports that the two bodies are keen to collaborate to ensure that more women-owned businesses and professionals benefit from industry’s opportunities and consequently play a stronger role across the sector’s value chain.

READ ALSO: APC Defends Tinubu Over Electricity Promise, Says President Is Tackling Sector’s Challenges

Recall that in April 2021, the NCDMB established a $20 million fund dedicated to supporting women-owned and women-led businesses in the oil and gas sector, which the Nigerian Export-Import Bank (NEXIM) complemented by matching the fund with an additional $20 million.

However, despite this significant commitment and favorable loan terms, the uptake of the scheme has remained below expectations to date.

The discussions were advanced last week when the UN Women’s Country Representative to Nigeria and the Economic Community of West African States (ECOWAS), Ms. Beatrice Eyong, led a delegation to the NCDMB’s Abuja liaison office.

The team was received by the Board’s General Manager of Corporate Communications, Dr. Obinna Ezeobi, on behalf of the Executive Secretary, Engr. Felix Omatsola Ogbe.

The meeting explored proposed capacity-building initiatives for NCDMB personnel, aimed at mainstreaming gender perspectives into the Board’s project planning, budgeting, and execution frameworks.

Other key areas of discussion included vendor development schemes to better position women-led oil and gas businesses for industry opportunities, strategies to raise awareness of available financing options, and potential affirmative procurement measures designed to expand the participation of women-owned companies across the oil and gas value chain.

The UN official commended NCDMB for its ongoing gender inclusion efforts, noting that the Board is already implementing several measures consistent with its mandate.

She proposed conducting a study to identify the reasons women face challenges in accessing the financing facility, including potential barriers related to documentation, business registration, tax compliance, and limited awareness.

She further highlighted key initiatives currently being undertaken by the UN Office, such as programmes on women’s economic empowerment, leadership development, and the elimination of gender-based violence, among others.

Ezeobi welcomed the proposals and affirmed the Board’s readiness to partner with UN Women. He highlighted several innovative initiatives already implemented by the Board to create opportunities for women to participate, grow, and lead in Nigeria’s oil and gas industry.

These include the establishment of a dedicated funding scheme with NEXIM Bank that enables women-owned or women-led firms to access financing at a highly competitive 5 per cent interest rate, as well as the creation of a Diversity Sectoral Working Group within the Nigerian Content Consultative Forum (NCCF), designed to mainstream women’s issues into local content policy and decision-making processes.

The Board also supports associations of women who work across the Energy Industry value chain, where they network, build confidence and links to progress their careers or businesses.

Ezeobi noted that NCDMB has also invested significantly in capacity-building programs for women entrepreneurs and business leaders, covering critical areas such as business sustainability, corporate governance, and strategic management.

The Board has further supported women’s participation in technical occupations while encouraging young girls to pursue careers in science, technology, engineering, and mathematics (STEM).

He acknowledged that women remain underrepresented in the oil and gas industry, citing limited access to technical education, finance, and commercial opportunities, as well as entrenched perceptions of the sector as predominantly male.

Ezeobi reiterated NCDMB’s willingness to collaborate with UN Women to address these challenges and recommended strategies to accelerate the Board’s support for UN Women’s programmes, thereby advancing gender inclusion across the industry.

The African Export-Import Bank (Afreximbank) has released its Côte d’Ivoire Country Brief, providing an in-depth examination of the West African nation’s macroeconomic outlook, regional and international trade dynamics, financial sector development and debt sustainability profile.

The brief highlights Côte d’Ivoire as one of Africa’s fastest-growing economies. Home to 33.5 million people and with a nominal GDP forecast at USD116.9 billion in 2027, the country has sustained average real GDP growth of around 6.5% per year between 2021 and 2024, accelerating to an estimated 6.6% in 2025. Growth is forecast to moderate to 5.8% in 2026 before rebounding to 6.2% in 2027, supported by rising crude production, continued infrastructure investment and resilient domestic demand.

The brief also points to a notably improved near-term macroeconomic environment. Inflation fell sharply to just 0.1% in 2025, supported by easing commodity price pressures and government measures to stabilise fuel and food prices, with the CFA franc’s euro peg providing a durable exchange rate anchor. The fiscal deficit narrowed to 3% of GDP in 2025, meeting the West African Economic and Monetary Union (UEMOA) ceiling, backed by stronger revenue collection and ongoing reforms to tax administration and VAT digitalisation.

On trade, this edition charts a significant expansion. Total trade surged from USD26 billion in 2018 to USD57 billion in 2025, anchored by Côte d’Ivoire’s status as the world’s largest cocoa producer, commanding around 40% of global supply, alongside growing exports of cashew nuts, rubber, gold and hydrocarbons.

READ ALSO: Oando Production Hits 42,985 boepd as Revenue Grows 9% in 9M 2026

The February 2026 Calao South gas condensate discovery and rising output from the Baleine field signaled a broadening export base over the medium term. Strategically positioned on the Gulf of Guinea, with the ports of Abidjan and San Pedro acting as principal gateways into Francophone West Africa, Côte d’Ivoire is deeply embedded in regional trade networks, with African markets accounting for around 22% of its goods trade in 2025.

The brief further notes Côte d’Ivoire’s financial sector strength. The country holds the largest banking sector in UEMOA, accounting for more than a third of regional banking assets. Regulatory reforms, including the adoption of Basel II and Basel III standards, have strengthened supervision and resilience, while the launch of the Central Bank of West African States’ (BCEAO) interoperable instant payment platform in September 2025 is broadening access to digital financial services across the economy.

As this edition notes, Côte d’Ivoire “has moved from a period of rapid debt accumulation and elevated debt service pressure towards a more stable debt profile, supported by fiscal consolidation, active debt management and continued multilateral engagement.” This is a trajectory that positions the country to fully capitalise on the ambitious targets of its 2026-2030 National Development Plan.

Afreximbank’s Group Chief Economist & Managing Director Research commented: “Côte d’Ivoire is consolidating its position as a leading West African growth and trade hub. Its expanding energy sector, world-class agricultural base, regional port infrastructure and increasingly sophisticated financial system offer a strong foundation to attract investment, scale value addition and deepen trade links across Africa.”

Oando Plc has increased its average daily production by 14 per cent to 42,985 barrels of oil equivalent per day (boepd) in the first nine months of 2026.

This was driven by higher output across its crude oil, natural gas and Natural Gas Liquids (NGL) assets.

The indigenous energy company, in its unaudited nine-month results ended September 30, 2026, said the production growth from 37,614 boepd recorded in the corresponding period of 2025 reflected improved operational efficiency, higher facility uptime and increased investment in its upstream portfolio.

Crude oil production rose 12 per cent to 12,193 barrels per day, while gas output increased 13 per cent to 28,689 boepd. NGL production recorded the strongest growth, rising 53 per cent to 2,103 barrels per day.

The company said improved operational performance was supported by a 96.1 per cent facility uptime, compared with 85 per cent in the corresponding period of 2025, while production operating costs declined 22 per cent to $15.39 per barrel of oil equivalent (boe).

READ ALSO: Nigeria Moots Oil Industry Deal with Indonesia

Commenting on the performance, Group Chief Executive, Wale Tinubu, said improved operational efficiency, increased investment and stronger asset reliability under the company’s operatorship were translating into higher production across its expanded upstream portfolio.

According to him, the company is recording improved reliability, lower unit costs and higher production as it intensifies development activities across its operated assets.

The production increase also translated into higher sales volumes, with crude oil liftings rising 43 per cent to 3.97 million barrels, while natural gas sales increased five per cent to 34.01 billion standard cubic feet (Bscf).

NGL sales surged 90 per cent to 570,000 barrels, pushing total exploration and production sales volumes up 21 per cent to 10.21 million barrels of oil equivalent.

To sustain the production momentum, Oando invested N110.7 billion in capital expenditure during the period, with a significant portion directed towards drilling activities across Oil Mining Leases (OMLs) 60–63.

Its seven-well drilling programme for 2026 is progressing across its operated assets. The company said Idu 6ST and Idu 15 had been completed and brought on stream, while workovers at Samabri 4T and Samabri 7T had also been completed.

Drilling is ongoing at Idu T and Samabri A50, with the final well, Ogbainbiri, scheduled to commence in December.

Upon completion, the campaign is expected to deliver an additional 16,000 to 20,000 boepd in gross production, helping to offset natural field decline and sustain output growth.

The programme is also central to Oando’s medium-term ambition of raising production to approximately 100,000 boepd within the next four to five years. The company has consequently narrowed its full-year 2026 production guidance to between 40,000 and 45,000 boepd, while projecting capital expenditure of $90 million to $100 million, largely focused on high-impact, short-cycle upstream activities.

Beyond production growth, Oando said its operating performance improved significantly, with gross profit rising 483 per cent to N174.5 billion from N29.8 billion, while operating profit stood at N159.7 billion against an operating loss of N109.7 billion in the corresponding period of 2025.

Revenue increased nine per cent to N2.78 trillion, supported by higher crude oil output, increased gas and NGL sales and improved realised prices.

Cash generated from operations reached N285 billion, while total borrowings declined to N2.16 trillion, representing a 22 per cent reduction from the peak recorded at the end of 2024.

Tinubu said the company would prioritise completion of its drilling programme, sustaining operational reliability and strengthening its balance sheet through an impending equity raise.

He added that the initiatives would reduce leverage, improve the company’s capacity to finance further growth and support future shareholder distributions.

Oando said it remained focused on unlocking the potential of its upstream assets through sustained investment, operational efficiency and increased production.