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NCDMB To Set Minimum Benchmark for Women in Oil and Gas…to begin disbursement of $40m Women Fund

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NCDMB To Set Minimum Benchmark for Women in Oil and Gas…to begin disbursement of $40m Women Fund

Modupe ASUDO

ABUJA-THE Nigerian Content Development and Monitoring Board (NCDMB) has announced plans to set a minimum percentage of females that must be included in any human capacity development (HCD) programme or any other initiative that it will approve for the Nigerian Oil and Gas Industry.

The Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote, stated this on Tuesday at the 2nd Nigerian Women in Oil and Gas Conference. He said the Board would work on the policy and communicate it to the industry as soon as possible.

The conference was organised by the NCDMB in partnership with the Diversity Sectorial Working Group of the Nigerian Content Consultative Forum (NCCF), which was set up by the NCDMB to advise it on policy directions.

Speaking on the $40m Women in Energy Fund which the NCDMB set up in partnership with the Nigerian Export-Import Bank (NEXIM Bank), the Executive Secretary indicated that 15 applications have been received and three have been approved and disbursement of funds would soon start. He added that the online portal for the fund was launched two weeks ago, and this would speed up and reduce human interface in the application and processing.

He commended the performance of women in various roles in the oil and gas industry and canvassed for their inclusion in the administration of the various Trusts and Funds that were established by the Petroleum Industry Act (PIA) 2021, notably the Host Community Development Trust, Host Community Development Trust Fund and Environmental Remediation Fund.

Speaking further, the NCDMB boss confirmed that the Oil and Gas Industrial Parks in Bayelsa State and Cross River state are getting ready for completion and will commence operations next year. He noted that the Board had started inviting applicants for allocation of plots to set up manufacturing outfits in the park and encouraged women-owned businesses with workable proposals to apply as they will be given special consideration as part of the Board’s commitment to mainstream women into the oil and gas industry.

Providing an update on the administration of the Women in Energy Fund, the Managing Director of NEXIM Bank, Mr. Abba Bello explained that applicants would need to meet set criteria before they can access the fund. “It is a loan and not a grant and applicants have to meet the conditions, so we can achieve the intended purpose,” he said. Represented by the Head Specialised Products at the Bank, Mr. Mohammed Aumiz, the NEXIM Bank boss explained that it takes only 22 days for an application to be processed and an offer letter issued if the company met the criteria.

Earlier in his remarks, the Minister of State for Petroleum Resources, Chief Timipre Sylva commended the NCDMB for inaugurating the Diversity Sectorial Working Group under the NCCF as provided in Section 58 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act. He noted that women make up 48 percent of the global labour force, but they only account for 22 percent of the labour force in the oil and gas sector.

Quoting a recent study by Global Energy Talent Index, the Minister said women occupy about 50 percent of non-technical positions at entry-level compared to only 15 percent of technical and field role positions, hinting that gender diversity and inclusion decreases with seniority, with only a tiny proportion of women in executive positions. “The percentage of women in the industry drops from 36 percent to 24 percent between the middle and executive level,” he noted.

He confirmed that the Nigerian government has been deliberate in introducing gender-friendly policies aimed at increasing access to funding, award of contracts and support for research and development in the interest of women operators in the Nigerian oil and gas industry.

The Minister harped on the need to be deliberate in getting more girls into Science Technology Engineering and Mathematics (STEM), which is a pathway to careers in the oil and gas industry.

He also advised women in the Nigerian Oil and Gas industry to work together towards increasing participation of fellow women in the industry by engendering growth, building capacities and capabilities, identifying opportunities, mentoring and coaching.

In her goodwill message, the Chairperson NNPC Board, Senator Margery Chuba-Okadigbo challenged the NCDMB to institute a development programme like the Project 100 for oil and gas firms owned by women. She said the implementation of the Petroleum Industry Act (PIA) provides a good opportunity to mainstream more women in oil and gas activities. She also recommended formal mentorship and role modelling for younger women coming up in the oil and gas industry.

 

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IEA Puts UAE’s Oil Output at 5.3mbpd for September

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Oil output from the United Arab Emirates (UAE) rose to record levels in September, underscoring its resilience even amidst the Middle East crises and liberation from OPEC+ limits.

The International Energy Agency (IEA) issued the data in its monthly report, adding that Abu Dhabi raised total oil production, including condensates, by 400,000 bpd to 5.3 MMbpd.

According to the IEA, the UAE bolstered crude output to more than 4.4 MMbpd, nearing its maximum capacity, which surpasses the previous highs for total oil in August, and crude oil in June.

READ ALSO: Africa’s Energy Security Conversations Pull Industry Executives Together

The UAE has been one of the most successful among regional producers in restoring flows through the Strait of Hormuz, by drawing on a fleet of tankers to discreetly shuttle cargoes through the chokepoint and then transfer them onto other vessels. In addition, the country’s decision to leave the Organization of the Petroleum Exporting Countries (OPEC) as of May has freed it from the group’s output caps, a source of frustration for years.

Its gains contributed to a wider recovery in flows from Gulf producers, which reached more than 75% of pre-war levels in September, led by Saudi Arabia, according to the Paris-based IEA.

Still, it’s unclear how far the regional rebound has withstood a new wave of Iranian attacks on tankers transiting Hormuz, and escalating hostilities carried out by the Houthi rebel faction in Yemen.

The UAE depleted its observable above-ground inventories at a record pace of more than 270,000 bpd in September, drawing them to an all-time low, according to the IEA.

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Africa’s Energy Security Conversations Pull Industry Executives Together

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Africa’s gas potential and strengthening the continent’s energy security would take centre stage at the Africa Interviews Sustainability Forum (AISF 2026) scheduled for Wednesday, October 21, in Lagos.

Biztellers reports that top officials of Oando Plc and Renaissance Africa Energy Company Limited, Ayotola Jagun and Tony Attah, respectively, will be leading other industry leaders in the discussion.

Jagun, Oando’s Executive Director, Chief Corporate Services and Sustainability Officer, and Attah, Managing Director and Chief Executive Officer of Renaissance Africa Energy Company Limited, will participate in a panel discussion alongside Lamé Verre of Lean In Equity & Sustainability (LiNES) and Dapo Filani, Managing Director and Chief Executive Officer of Waltersmith.

The panel will examine Africa’s energy security and the role of natural gas in the continent’s energy transition.

READ ALSO: 30 Nigerians Bag Postgraduate Scholarship from NNPC Ltd, Eni

The forum, launched in 2024, is holding its third edition under the theme, “Energy Security and Africa’s Energy Transition: Defining the Role of Gas.”

This year’s gathering will explore how African countries can strengthen energy security, attract investment in gas development and balance growing energy demand with sustainability objectives.

Verre, a London-based energy and sustainability executive, is Co-founder and Chair of the Advisory Board of LiNES. She will bring her international experience in sustainability, decarbonisation and low-carbon development to the discussion. Her work spans low-carbon initiatives across sectors, including marine, the built environment, forestry, land and agriculture.

Jagun brings extensive experience in corporate governance, regulatory compliance, enterprise risk management and sustainability. Her contribution will provide a corporate sustainability and governance perspective on the relationship between energy development, environmental responsibility and Africa’s transition priorities.

Attah, a former Managing Director and Chief Executive Officer of Nigeria LNG Limited, has extensive experience in the oil and gas industry, particularly in natural gas development and major energy operations.

Filani leads Waltersmith, an indigenous Nigerian energy company with interests across the oil and gas value chain. His participation will highlight the role of indigenous energy companies in strengthening domestic energy capacity and supporting economic development.

The panel will consider what is required to unlock greater investment in Africa’s gas sector, how natural gas can support industrial growth while advancing sustainability, and what practical measures could help translate the continent’s energy ambitions into tangible outcomes.

Beyond the panel discussion, AISF 2026 will provide opportunities for engagement among senior energy executives, policymakers, investors and business leaders.

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Energy

Middle East Push, G7’s Strategic Reserve Release Arrest Oil Prices

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Oil prices on Monday went south, after crude exports from the Middle East rose above pre-war levels, while the Group of Seven nations pledged to release 100 million barrels of crude and diesel from emergency reserves.

Brent crude futures fell by $1.20, or 1.17 percent, to $101.05 a barrel, while West Texas Intermediate crude declined by $1.16, or 1.27 percent, to $89.95 per barrel, according to Reuters.

Middle Eastern crude exports exceeded pre-war levels on four of the seven days in the final week of September, shipping data showed, despite attacks on vessels passing through the strategic Strait of Hormuz.

The increase in exports, combined with the G7’s planned release of emergency stocks, helped put downward pressure on crude prices.

The G7 countries agreed on Friday to release 100 million barrels of diesel and crude from emergency reserves and pledged to refrain from energy export restrictions following pressure from United States President Donald Trump.

READ ALSO: Ndindi Nyoro Gives Ruto 14 Days to Disclose Dangote Refinery Deal

However, the scale of the additional supply remained uncertain.

IEA Executive Director, Fatih Birol, said last week that member countries had already released about two-thirds of the 400-million-barrel volume.

Meanwhile, supply concerns remained elevated as fighting continued across parts of the Middle East.

Saudi Aramco Chief Executive Officer, Amin Nasser, also warned that crude oil and refined fuel supplies were expected to remain stretched.

He said rebuilding global stockpiles after emergency withdrawals could take two years.

The United States Strategic Petroleum Reserve fell to 283 million barrels last week, its lowest level since October 1982, according to data from the US Department of Energy.

The supply outlook was further complicated by the continuing conflict involving Saudi Arabia and Iran-backed Houthi forces in Yemen.

Yemeni government forces attacked Houthi positions in the Dhubab district overlooking the Bab el-Mandeb Strait on Monday, according to two military sources.

The development came a day after the internationally recognised government launched a campaign to retake Houthi-held territory.

Meanwhile, OPEC+ postponed a review that would determine its 2027 oil output quotas after the war involving Iran disrupted projects aimed at expanding production capacity across the Middle East.

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