The Nigerian Content Development and Monitoring Board (NCDMB) has issued a reminder to operators, contractors, and service companies operating in Nigeria's upstream oil and gas sector regarding their legal responsibility to remit the one per cent Nigerian Content Development Fund (NCDF) levy into designated bank accounts. This announcement was made on February 20, 2026.

In a statement, Executive Secretary of the Board, Felix Omatsola Ogbe, emphasized that covered entities are required to remit one per cent of the value of every upstream contract. He underscored that the NCDMB holds exclusive authority for the management and administration of the Fund.

According to Ogbe, funds generated under NCDF are specifically allocated to support indigenous oil and gas contractors and service companies. These funds are also used to finance capacity development and training initiatives, facilitate access to affordable financing for indigenous participation, and stimulate sustainable growth across the oil and gas value chain.

Ogbe clarified that the NCDF is a ring-fenced statutory development fund created by an Act of the National Assembly and is not classified as Federal Government revenue payable into the Consolidated Revenue Fund. He added that its collection and administration are expressly governed by Section 104 of the Act.

He stressed that all remittances of the one per cent NCDF levy must be made strictly into accounts officially designated by the NCDMB, warning that any payment made outside those accounts would not be recognised as valid under the law.

The Executive Secretary urged companies to ensure strict compliance and seek clarification from the Board where necessary before effecting any remittance.

He assured stakeholders that the Board remains committed to transparency, accountability and effective utilisation of the Fund to promote sustainable Nigerian content development.

The NCDMB also announced that obtaining the Nigerian Content Development Fund Compliance Certificate (NCFCC) has become a key requirement for accessing the Board’s regulatory services and approvals.

The Compliance Certificate is issued to confirm that a company has fulfilled its statutory obligation to remit one per cent of the value of every upstream contract.

The Board stated that without a valid NCDF Compliance Certificate, access to regulatory documents, certifications, approvals and clearances issued by the NCDMB would not be granted.