‘It’s not true, entire N5.3tr industry’s capitalisation can’t even fund one oil rig’ Nigerian banks have become very stringent in funding oil and gas projects owing to a doubtful balance sheet position and inability of firms to service previous loans worth more than N2.2 trillion. But...

In a bid to boost access to the $600m Nigerian Content Development Fund, the Nigerian Content Development and Monitoring Board and the Bank of Industry have launched a new fund for oil industry operators. The NCDMB described the $100m Nigerian Content Intervention Fund as a...