The Nigerian Content Development and Monitoring Board (NCDMB) has issued a reminder to all operators, contractors, and service companies in Nigeria’s upstream oil and gas sector of their legal duty to remit one per cent of contract values into accounts officially designated by the Board under the Nigerian Content Development Fund (NCDF).
Executive Secretary Felix Omatsola Ogbe emphasised that all covered entities must remit the levy for every upstream contract, highlighting that the NCDMB has exclusive authority over the administration and management of the fund.
The NCDF is a statutory development fund established by an Act of the National Assembly. It is ring-fenced and distinct from Federal Government revenues.
Its collection and administration are governed under Section 104 of the Nigerian Content Development Act,” Ogbe explained.
Funds generated under the NCDF are deployed to support indigenous oil and gas contractors, finance capacity building and training, provide access to affordable financing for local operators, and drive sustainable growth across the industry’s value chain.
Ogbe warned that any remittance made outside the accounts officially designated by the NCDMB will not be recognised under the law. He urged companies to ensure strict compliance and consult the Board for clarifications before making payments.
In addition, the NCDMB has made the Nigerian Content Development Fund Compliance Certificate (NCFCC) a prerequisite for accessing the Board’s regulatory services, approvals, and clearances.
Companies without a valid Compliance Certificate will be denied regulatory documentation or approvals, reinforcing the importance of meeting statutory obligations.
Ogbe reaffirmed the Board’s commitment to transparency, accountability, and effective use of the NCDF to promote sustainable Nigerian content development.
 urges upstream oil and gas operators to remit the 1% NCDF levy into designated accounts. Compliance is now required to access Board approvals.%%primary_category%% %%sitename%% %%title%% %%sep%%){kind=link}