The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Nigerian Content Development and Monitoring Board (NCDMB) have launched a partnership aimed at increasing female participation in Nigeria’s oil, gas, and mining industries. The agreement was formalized between Dr. Orji Ogbonnaya Orji, Executive Secretary of NEITI, and Felix Omoshola Ogbe, Executive Secretary of the NCDMB, during a recent meeting focused on strengthening collaboration between the two agencies.
Dr. Orji raised concerns over NEITI’s recent reports, which revealed a decline in women’s representation in the oil and gas industry, despite global standards encouraging gender inclusivity. According to NEITI’s 2022 and 2023 reports, women accounted for just 17% of the oil and gas workforce in 2022, with a slight increase to 16% in 2023. This reflects a persistent gender imbalance in Nigeria’s extractive sectors, particularly when compared to global trends advocating for greater gender diversity.
In the 2023 report, women made up only 16% of the total workforce, with a total of 1,391 women employed out of 8,694 employees in the sector. This decrease, despite an increase in overall workforce numbers, highlights the ongoing underrepresentation of women in the industry.
To address these challenges, Dr. Orji called for stronger collaboration between NEITI and NCDMB to improve gender inclusivity, particularly in mining and steel sectors, where female participation is becoming a global priority.
$40 Million Fund to Empower Women in Oil and Gas
Felix Omoshola Ogbe, Executive Secretary of NCDMB, welcomed the partnership, emphasizing the board’s commitment to advancing gender equality within Nigeria’s oil and gas industry. Ogbe revealed that the NCDMB, in partnership with the Nigerian Export-Import Bank (NEXIM), has launched a $40 million “Women in Oil and Gas Intervention Fund.”
The fund is designed to empower women-led businesses and increase gender diversity across Nigeria’s oil and gas sector. Specifically, it targets companies where women hold at least 51% of ownership and occupy significant management roles. The fund’s eligibility criteria include 51% women shareholding, 50% female representation in management, and women serving as CEOs of the businesses. Additionally, companies must ensure at least 40% female representation in key management positions.
The $40 million fund will provide financial support to both start-ups and established businesses, with a focus on key sectors such as oil services, manufacturing, logistics, catering, environmental management, leasing, and training. By doing so, the initiative aims to empower women-led businesses to play a more active role across the oil and gas value chain.
NEITI and NCDMB: Key Drivers of Economic Growth
The partnership between NEITI and NCDMB is also seen as a move to boost economic growth and transparency within the extractive industries. NEITI’s recent reports highlight the significant strides made by the NCDMB in its levy collections, which reached $613.12 million in 2022 — an 819% increase from the previous year. While the 2023 levy figure dropped by 76%, totaling $146 million, it underscores the agency’s ongoing commitment to transparency and accountability, as well as its pivotal role in supporting job creation and retaining economic benefits within Nigeria.
The new collaboration between NEITI and NCDMB is expected to lead to more inclusive growth within the sector, contributing to both female entrepreneurship and the broader sustainability of Nigeria’s extractive industries.
Looking Ahead
The NEITI-NCDMB partnership marks a significant step toward addressing gender disparities in Nigeria’s extractive industries. With targeted funding, strategic collaboration, and a focus on inclusive economic growth, the initiative is poised to create long-term benefits for both women and the oil, gas, and mining sectors in Nigeria.
This renewed focus on gender inclusivity aligns with broader global efforts to ensure that the benefits of the extractive industries are shared more equitably, contributing to a more sustainable and diversified economy in the years to come.