February 18, (THEWILL) — The Nigerian Content Development and Monitoring Board (NCDMB) has warned operators, contractors, and service companies in the upstream oil and gas sector that remitting the statutory one per cent (1%) Nigerian Content Development Fund (NCDF) levy is mandatory for accessing regulatory approvals and services.
In a statement issued by the board’s Corporate Communications Division on Wednesday, February 18, 2026, and signed by Obinna Ezeobi, the board noted that this reminder follows a recent session at the Nigerian Content Tower in Yenagoa, Bayelsa State.
Executive Secretary Felix Omatsola Ogbe explained that the NCDF was established under Section 104 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010.
Ogbe stated that the law requires all covered entities to remit one per cent of the value of every upstream contract into bank accounts officially designated by the NCDMB, as the board holds exclusive authority for managing and administering the fund.
According to him, these funds are deployed to support indigenous oil and gas contractors, finance capacity development, improve access to affordable funding, and promote sustainable growth across the industry value chain.
The Executive Secretary clarified that the NCDF is a ring-fenced statutory development fund and is not classified as Federal Government revenue payable into the Consolidated Revenue Fund.
He stressed that any remittance made outside the formally designated accounts will not be recognised as valid payment under the Act.
He urged oil and gas companies to ensure strict compliance and to seek clarification from the board before effecting any payment, assuring stakeholders of the NCDMB’s commitment to transparency and accountability.
Furthermore, the board announced that obtaining a Nigerian Content Development Fund Compliance Certificate (NCFCC) is now a critical requirement for accessing regulatory services.
This certificate confirms that a company has fully complied with its statutory obligation to remit the levy on every upstream contract.
The board warned that without a valid NCFCC, companies will be denied access to regulatory documents, including project and contract approvals and the Nigerian Content Equipment Certificate.
Industry stakeholders were advised to regularise their remittance status and apply for the certificate via the NCDMB online portal to avoid disruptions to their operational schedules.
The board noted that the NCFCC serves as tangible proof of a company’s good standing and acts as a mechanism for promoting accountability and sustainable development in the oil and gas sector.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
