The Nigerian Content Development and Monitoring Board (NCDMB), has concluded arrangements to commence the disbursement of $40million Women In Energy Fund in the country.
Engr. Simbi Kesiye Wabote, the Executive Secretary of NCDMB, who disclosed this recently at the 2nd Nigerian Women in Oil and Gas Conference, said 15 applications have been received and three have been approved
He added that the online portal for the fund was launched two weeks ago, and this would speed up the process and reduce human interface in the application and processing.
He also announced intent to set a minimum percentage of females that must be included in any human capacity development (HCD) programme or initiative that it will approve for the Nigerian Oil and Gas Industry.
The Board would work on the policy and communicate same to the industry as soon as possible, he said
He lauded 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.
He disclosed 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.
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Mr. Abba Bello the Managing Director of NEXIM Bank, while speaking on the administration of the Women in Energy Fund, disclosed 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.
Chief Timipre Sylva, Minister of State for Petroleum Resources, 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.
SOURCE: independentng.com