As part of efforts to grow the economy and support local companies, the Nigerian Content Development and Monitoring Board (NCDMB) has made available $200 million (about N76 billion) as intervention fund through loans.
by SaharaReporters, New YorkAug 24, 2018
As part of efforts to grow the economy and support local companies, the Nigerian Content Development and Monitoring Board (NCDMB) has said it has made available $200 million (about N76 billion) as intervention fund through loans.
Simbi Wabote, NCDMB Executive Secretary, stated this in Yenagoa, the Bayelsa State capital, on Friday, at a capacity building workshop for Energy and Business Correspondents, entitled: 'NCDMB and the Nigerian Content Intervention Fund'.
Represented by Isaac Iyalah, the Director, Finance and Personnel Management, the Executive Secretary revealed that, so far, about 45 applications had been received.
While 11 applications have been approved, he noted that $11 million had also been released to the qualified beneficiaries.
http://saharareporters.com/2018/08/24/ncdmb-offers-n76bn-intervention-funds-support-local-companies

May God bless the government and increase their wisdom in tackling poverty in nigeria. cursing a government that will occupy aso rock till 2023 is counter productive. we also ask that the enemies of this country start to loose whats dearest to them. na pray I dey pray for my country o, if u no like am, I dey my house, come and beat me.

good news

Good development

some people will say it is because of election.

PAPER TALK....

Abeg

If this wouldn't be politicized as usual, then it is a good initiative

Good

Same way NYSC allawee was increased.

This man want use goodies kill us?

IPad and PDP right now...

The only way Ipob pigs can benefit is if there's a special fund for kidnappers, fraudsters, armed robbers and baby factory operators.

Why wasn't the announcement not made officially, it's a sign of fraud, man know man sharing.

Figures are being thrown up this day as make-believe everybody knows elections are around the corner.If you can,just cash in on anyone that is true please do because this is the best time to get politicians' attentions and also the time you can be heard and listened to.

I have two problems with this news.

No 1) Poeple will not make any attempt to access this fund to improve their own life and the country at large, rather they will sit down, look for bad things about the government and Nigeria as whole to blame and condemn.

No 2) Some scrupulous element in government, agency handling the money and politicians from both sides ( religion, political party, ethnicity and ideology) will do every to frustrates common man from accessing the loan so that they can easily and quietly steal it.

I am a Nigerian and I need a job with one of these oil company via these local content act.

I don't know any senetor, governor, house of rep member, or big oga at the top... I only know God.

I am a graduate of Mechanical Engineering, am Sharp, smart, articulate, and I have some interesting couple of years experience in the industry.

Jagajaga talk, always writing rubbish no evidence to show real implementation and effect on the economy and positive effect on the lives of real Nigerians

ManirBK:
As part of efforts to grow the economy and support local companies, the Nigerian Content Development and Monitoring Board (NCDMB) has made available $200 million (about N76 billion) as intervention fund through loans.
by SaharaReporters, New YorkAug 24, 2018
As part of efforts to grow the economy and support local companies, the Nigerian Content Development and Monitoring Board (NCDMB) has said it has made available $200 million (about N76 billion) as intervention fund through loans.
Simbi Wabote, NCDMB Executive Secretary, stated this in Yenagoa, the Bayelsa State capital, on Friday, at a capacity building workshop for Energy and Business Correspondents, entitled: 'NCDMB and the Nigerian Content Intervention Fund'.
Represented by Isaac Iyalah, the Director, Finance and Personnel Management, the Executive Secretary revealed that, so far, about 45 applications had been received.
While 11 applications have been approved, he noted that $11 million had also been released to the qualified beneficiaries.
http://saharareporters.com/2018/08/24/ncdmb-offers-n76bn-intervention-funds-support-local-companies

Na only hear we take dey hear?

Una go write something, una nor go find the time write how we go take apply.

Nice gesture if this is true if it is not propaganda as usual or some kind of political gimmick gear towards winning 2019 election

ManirBK:
As part of efforts to grow the economy and support local companies, the Nigerian Content Development and Monitoring Board (NCDMB) has made available $200 million (about N76 billion) as intervention fund through loans.
by SaharaReporters, New YorkAug 24, 2018
As part of efforts to grow the economy and support local companies, the Nigerian Content Development and Monitoring Board (NCDMB) has said it has made available $200 million (about N76 billion) as intervention fund through loans.
Simbi Wabote, NCDMB Executive Secretary, stated this in Yenagoa, the Bayelsa State capital, on Friday, at a capacity building workshop for Energy and Business Correspondents, entitled: 'NCDMB and the Nigerian Content Intervention Fund'.
Represented by Isaac Iyalah, the Director, Finance and Personnel Management, the Executive Secretary revealed that, so far, about 45 applications had been received.
While 11 applications have been approved, he noted that $11 million had also been released to the qualified beneficiaries.
http://saharareporters.com/2018/08/24/ncdmb-offers-n76bn-intervention-funds-support-local-companies

Election campaign

PrecisionFx:



Election campaign

You mean Sahara reporters, Sowore own company is campaigning for Buhari and APC? That’s a new one

ManirBK:
May God bless the government and increase their wisdom in tackling poverty in nigeria. cursing a government that will occupy aso rock till 2023 is counter productive. we also ask that the enemies of this country start to loose whats dearest to them. na pray I dey pray for my country o, if u no like am, I dey my house, come and beat me.

The pool of funds will provide loans to Nigerian companies involved in manufacturing in the oil and gas industry as well as firms seeking to acquire assets, especially rigs and marine vessels. Beneficiaries will get a maximum of $10m, repayable after five years at eight percent interest rate.

The NCI Fund will also cover contract financing for Nigerian oil service providers, contract financing for oil and gas community contractors and contract and loan refinancing for service companies that already have facilities with Nigerian banks.

The Fund will be disbursed directly by the BOI, with community contractors able to access N20m which they will repay with five percent interest.

Speaking at the event, Minster of State for Petroleum Resources, Dr. Ibe Kachikwu called on financial institutions, oil companies and other stakeholders to grow the Nigerian Content Intervention Fund to $1bn.

He said, “The Fund needs to be sizeable to finance big ticket items. We will work internally, first to get BOI to contribute its counterpart funding. I also expect the oil industry to contribute. I will like to see investments drives that will bring in Foreign Direct Investments into this Fund. “

The minster also called for transparent disbursement, geographical spread and application to different segments of the industry.

How does that include ordinary Nigerians who need loans of N50,000-N300,000 to do business?

seunfly:
I have two problems with this news.

No 1) Poeple will not make any attempt to access this fund to improve their own life and the country at large, rather they will sit down, look for bad things about the government and Nigeria as whole to blame and condemn.

No 2) Some scrupulous element in government, agency handling the money and politicians from both sides ( religion, political party, ethnicity and ideology) will do every to frustrates common man from accessing the loan so that they can easily and quietly steal it.

Check the official website and you will see those the loans are meant for. It's same rich class

I own a pharmaceutical company that employs 162 Staff. How can someone access the loan, what is the address of the agency?

wow! what a great effort,much respect for your job creation prowess

ifdaeg:
I own a pharmaceutical company that employs 162 Staff. How can someone access the loan, what is the address of the agency?

Why supporting an already obsolete industry while such an amount can drive innovation in ICT.

my own is how can one apply for this loan?, why only oil and gas sectors