By Anita Dennis
The Nigerian Content Development and Monitoring Board (NCDMB) and UN Women are seeking to widen women’s participation in the oil and gas industry by addressing barriers limiting access to a $40 million financing facility established for women in the sector.
The UN Women Country Representative to Nigeria and the Economic Community of West African States (ECOWAS), Beatrice Eyong, disclosed this during a courtesy visit to the NCDMB liaison office in Abuja.
Eyong said a study was needed to identify why more women-owned businesses and professionals were not benefiting from the Fund for Women in Oil and Gas. She identified possible obstacles, including documentation requirements, business registration, tax compliance and limited awareness of the financing opportunity.
The proposed study is expected to provide a clearer understanding of the challenges facing potential beneficiaries and help both organisations develop interventions that make the facility more accessible.
The initiative comes against the backdrop of women’s continued underrepresentation in an industry where access to finance, technical expertise and commercial opportunities can determine the ability of businesses to compete.
General Manager, Corporate Communications at NCDMB, Obinna Ezeobi, acknowledged these constraints, identifying limited access to technical education, finance and industry opportunities, alongside perceptions of oil and gas as a predominantly male sector, as factors affecting women’s participation.
He said the Board had invested in capacity-building programmes for women entrepreneurs and business leaders, covering business sustainability, corporate governance and strategic management.
These programmes are intended to strengthen the ability of women-owned enterprises to operate sustainably and compete for opportunities within the oil and gas value chain.
However, access to finance remains a critical part of the challenge. While the $40 million facility provides a financing opportunity, its impact will depend on whether eligible businesses can understand the application process, meet its requirements and secure funding on terms that support business growth.
The proposed assessment of access barriers could therefore help distinguish between the availability of financing and the ability of women entrepreneurs to obtain it. Simplifying procedures, improving information access and providing guidance on compliance requirements may be necessary to widen participation.
The meeting also examined proposed capacity-building initiatives for NCDMB personnel to integrate gender considerations into the Board’s project planning, budgeting and implementation processes.
This approach extends the discussion beyond individual funding opportunities to the institutional processes that shape access to industry contracts, training and business development programmes.
