BOI/NCDMB Loans 2026: NCI Fund & NOGaPS Manufacturing Fund – Apply Now
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- Category: Loans
- Published on Monday, 31 August 2026 18:28
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Businesses operating in Nigeria's oil and gas industry often face one major challenge: access to affordable financing.
Buying equipment, expanding production, executing contracts and setting up manufacturing facilities can require significant capital. This is where the Bank of Industry (BOI) and Nigerian Content Development and Monitoring Board (NCDMB) Intervention Funds come in.
The BOI/NCDMB funding programmes are designed to help eligible Nigerian businesses build capacity, acquire assets, manufacture locally and participate more effectively in the oil and gas value chain.
Two important funding opportunities under this partnership are the Nigerian Content Intervention Fund (NCI Fund) and the Nigerian Oil and Gas Parks Scheme (NOGaPS) Manufacturing Fund.
Although both programmes support Nigerian businesses in the oil and gas sector, they are not the same. They have different purposes, eligibility conditions and financing structures.
This guide explains the NCI Fund and NOGaPS Manufacturing Fund, who can apply, how much businesses may access, the applicable interest rates, repayment terms, application process and where to apply.
What Are the BOI/NCDMB Intervention Funds?
The BOI/NCDMB Intervention Funds are financing programmes developed through a partnership between the Bank of Industry (BOI) and the Nigerian Content Development and Monitoring Board (NCDMB).
The programmes are intended to increase Nigerian participation in the oil and gas industry by making financing available to indigenous companies.
The NCI Fund was created to address funding challenges affecting Nigerian manufacturers, oil and gas service companies, contractors and other businesses participating in the sector. The fund is managed by BOI on behalf of NCDMB.
The NOGaPS Manufacturing Fund, on the other hand, was established specifically to encourage companies to establish manufacturing operations within designated Nigerian Oil and Gas Parks.
In simple terms:
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NCI Fund: broader financing support for eligible Nigerian oil and gas businesses.
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NOGaPS Manufacturing Fund: financing specifically focused on manufacturing businesses operating within the NOGaPS framework.
1. Nigerian Content Intervention Fund (NCI Fund)
The Nigerian Content Intervention Fund, commonly called the NCI Fund or NCIF, is one of the major financing initiatives supporting Nigerian participation in the oil and gas industry.
NCDMB established the fund to improve access to finance for indigenous businesses and help companies build the capacity required to compete in the oil and gas value chain.
BOI currently manages the fund.
The fund has historically been structured around several financing products, including asset acquisition, contract financing, community contractor financing and loan refinancing. BOI's current product information also provides for financing for indigenous manufacturers and oil and gas service businesses.
What Can the NCI Fund Be Used For?
Depending on the facility being applied for, financing can support areas such as:
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Purchase of machinery and equipment
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Acquisition of oil and gas-related assets
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Execution of eligible contracts
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Working capital requirements
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Refinancing of eligible existing loans
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Manufacturing activities
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Expansion of existing operations
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Community contractor activities
The objective is to help Nigerian businesses increase their productive capacity and retain more value within the Nigerian economy.
NCI Fund Financing Options
The NCI Fund has several financing windows.
Asset Acquisition Finance
This facility is designed to help eligible businesses acquire productive assets and equipment required for their operations.
The current BOI product information provides a maximum single-obligor limit of US$10 million or its Naira equivalent for asset acquisition.
The stated pricing is 8% per annum, with a maximum tenor of five years.
Contract Financing
Contract financing is designed to help eligible Nigerian oil and gas companies obtain funding required to execute qualifying contracts.
The current product information gives a maximum single-obligor limit of US$5 million or its Naira equivalent, with pricing of 8% per annum and a maximum tenor of five years.
Community Contractor Financing
This financing window supports qualifying contractors operating in oil-producing communities.
The NCI Fund's community contractor financing has historically provided facilities in Naira, and the programme has subsequently been repackaged to make financing more accessible to qualified community businesses.
NCDMB announced in 2024 that the Community Contractors Fund had been expanded to ₦15 billion, with a new obligor limit of up to ₦100 million under the revised structure.
Applicants should confirm the current terms and application requirements directly through the BOI/NCDMB portal before submitting an application.
Loan Refinancing
The NCI Fund also provides refinancing support for eligible existing financing arrangements.
BOI's current product brochure gives a maximum single-obligor limit of US$2 million or its Naira equivalent, with pricing of 8% per annum and a maximum tenor of five years.
New US$100 Million NCI Equity Investment Fund
There is an important recent development that applicants should know about.
In January 2026, BOI and NCDMB announced a US$100 million Nigerian Content Equity Investment Scheme as a new financing window under the NCI Fund.
Unlike the traditional NCI Fund facilities, which are primarily debt financing, this new window is designed to provide long-term equity capital to qualifying Nigerian businesses.
In August 2026, NCDMB announced the inauguration of the investment committee for the fund.
The fund has:
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Total fund size: US$100 million
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Maximum obligor limit: US$5 million
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Fund provider: NCDMB
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Fund manager: BOI
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Target beneficiaries: oil field service companies, manufacturers connected to the oil and gas industry, fabrication yards and related businesses.
The equity financing is intended to support companies with scalable business models and help them expand their market share and competitiveness.
It is important to understand that this is not a grant. The equity investment scheme is a financing arrangement in which businesses receive capital in exchange for an equity interest, subject to the applicable investment terms.
NCI Fund Interest Rate and Repayment Period
The current BOI product information states that the NCI Fund's applicable pricing is generally 8% per annum, with a maximum tenor of five years for the listed facilities. A moratorium of between 6 and 12 months is also stated in the current product brochure.
However, financing terms can differ depending on the product, currency, security structure and final approval.
Applicants should therefore rely on the terms presented by BOI during the application and appraisal process rather than assuming that every facility has identical conditions.
Who Can Apply for the NCI Fund?
The NCI Fund is not a general-purpose business loan open to every Nigerian business.
It is targeted at businesses participating in the Nigerian oil and gas industry and related value chains.
Potential beneficiaries may include:
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Indigenous oil and gas service companies
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Manufacturers connected to the oil and gas industry
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Equipment manufacturers
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Contractors
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Fabrication companies
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Eligible community contractors
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Businesses involved in relevant oil and gas supply-chain activities
Historically, contributors to the Nigerian Content Development Fund (NCDF) have been a key eligibility requirement for the NCI Fund. NCDMB's current compliance system also emphasises fulfilment of the NCDF obligation under Section 104 of the NOGICD Act.
Because eligibility varies according to the particular financing product, applicants should check the current requirements before applying.
2. NOGaPS Manufacturing Fund
The Nigerian Oil and Gas Parks Scheme (NOGaPS) Manufacturing Fund is another important financing opportunity created by NCDMB and managed through BOI.
The fund was established to encourage Nigerian companies to manufacture oil and gas equipment, components and related products locally.
Unlike the traditional NCI Fund, the NOGaPS Manufacturing Fund was created as a separate financing product with its own eligibility criteria and collateral structure.
The fund is particularly relevant to manufacturers looking to establish or expand operations within designated Nigerian Oil and Gas Parks.
How Much Can You Get Under the NOGaPS Manufacturing Fund?
The BOI's current product brochure provides the following financing limits:
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Maximum: US$3 million or ₦1.5 billion
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Minimum: US$250,000 or ₦100 million
The current pricing is:
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US dollar facility: 5% per annum
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Naira facility: 9% per annum
The stated repayment period is:
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Term loan: up to 5 years
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Working capital: up to 3 years
The current product information also provides for:
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Term-loan moratorium: 12–18 months
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Working-capital moratorium: 3–6 months
These terms make the NOGaPS Fund particularly relevant to manufacturers that need time to establish production capacity before generating sufficient revenue.
What Can the NOGaPS Fund Finance?
The NOGaPS Manufacturing Fund is designed around the needs of businesses operating in the oil and gas manufacturing ecosystem.
Eligible financing may support:
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Manufacturing equipment
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Fixed assets
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Factory and production facilities
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Working capital
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Logistics
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Expansion of manufacturing operations
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Production of oil and gas equipment and components
The original launch information stated that the fund was designed to finance manufacturing activities, fixed assets, working capital and logistics for qualifying companies operating within designated NOGaPS industrial parks.
Who Is Eligible for the NOGaPS Manufacturing Fund?
The fund is primarily targeted at Nigerian companies that intend to establish or operate manufacturing activities within the Nigerian Oil and Gas Parks Scheme.
This is one of the biggest differences between the NOGaPS Fund and the traditional NCI Fund.
The NOGaPS Fund was specifically created to attract manufacturers to NCDMB's oil and gas parks.
NCDMB has developed parks in different parts of Nigeria, including locations such as:
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Emeyal-1, Bayelsa State
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Odukpani, Cross River State
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Ilaje, Ondo State
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Ughelli, Delta State
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Oguta, Imo State
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Ikwe-One, Akwa Ibom State
NCDMB has also stated that the Emeyal-1 park in Bayelsa is targeted for operationalisation in the fourth quarter of 2026.
NCI Fund vs NOGaPS Manufacturing Fund
Although the two programmes are connected to BOI and NCDMB, applicants should not treat them as the same opportunity.
| Feature | NCI Fund | NOGaPS Manufacturing Fund |
|---|---|---|
| Main purpose | Support Nigerian participation in the oil and gas value chain | Support manufacturing within NOGaPS |
| Target businesses | Oil and gas service companies, manufacturers, contractors and other eligible players | Manufacturers and businesses operating within the NOGaPS framework |
| Fund manager | BOI | BOI |
| Partner | NCDMB | NCDMB |
| Financing type | Several loan products plus the new equity window | Manufacturing-focused financing |
| Maximum facility | Varies by product | Up to US$3 million / ₦1.5 billion |
| Minimum facility | Depends on product | US$250,000 / ₦100 million |
| USD pricing | Generally 8% for listed NCI debt products | 5% |
| Naira pricing | Product-specific | 9% |
| Term loan tenor | Up to 5 years for listed products | Up to 5 years |
| Working capital | Available under applicable products | Up to 3 years |
| NOGaPS location required | Not generally | Yes, under the NOGaPS framework |
The NOGaPS Manufacturing Fund was specifically introduced as a stand-alone product rather than simply being another ordinary NCI Fund facility.
What Documents May Be Required?
Applicants should be prepared to provide business and financial documents during the application and appraisal process.
Depending on the facility, BOI may require documents such as:
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Certificate of incorporation/business registration documents
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Corporate information and CAC documents
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Tax-related documents
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Business plan or feasibility study
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Audited financial statements
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Management accounts where applicable
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Bank statements
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Evidence of contracts, where contract financing is involved
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Details of assets to be financed
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Evidence of equity contribution where applicable
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Security/collateral documentation
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Information relating to the company's ownership and management
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Relevant oil and gas regulatory or Nigerian Content documentation
The exact requirements depend on the product being requested.
Applicants should not pay unofficial agents for application forms or guaranteed approval. BOI has previously warned the public about individuals selling fraudulent loan application forms and pretending to act as BOI agents.
How to Apply for the BOI/NCDMB Intervention Funds
The application process is now accessible through BOI's digital intervention-fund system.
Step 1: Visit the official BOI/NCDMB portal
Start your application through the official BOI/NCDMB platform:
BOI/NCDMB Intervention Funds Application Portal
BOI's central intervention-fund platform currently lists the BOI/NCDMB Intervention Funds as an ongoing programme and directs applicants to the NCDMB BOI portal.
Step 2: Select the appropriate funding opportunity
Review the available financing options and determine whether your business is better suited to:
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NCI Fund financing
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Asset acquisition
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Contract financing
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Loan refinancing
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Community contractor financing
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NCI Equity Investment
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NOGaPS Manufacturing financing
Step 3: Create or access your account
Provide the required business and applicant information and follow the instructions on the portal.
Step 4: Prepare your documents
Upload clear and accurate copies of all documents requested.
Incomplete or inconsistent documentation can delay the assessment of an application.
Step 5: Submit your application
Review the information carefully before submitting.
Step 6: Wait for assessment
BOI will review the application and may request additional information, clarification or supporting documents.
Approval is subject to BOI's assessment, the relevant fund requirements and the terms and conditions applicable to the facility.
Important Things to Know Before Applying
Getting access to a government-backed or development-finance facility is not automatic.
Before applying, make sure your business is genuinely eligible and that you can demonstrate how the financing will be used.
1. This is financing, not free money
The NCI Fund and NOGaPS Manufacturing Fund are primarily financing programmes.
They should not be confused with grants.
A loan must be repaid according to the agreed repayment schedule.
The NCI Equity Investment Scheme is also not a grant; it is an equity investment arrangement.
2. Your business should have a clear use for the money
Do not apply simply because a large amount of funding is available.
Your application should clearly explain:
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What the money will be used for
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How much is required
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How the investment will increase production
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How the business will generate revenue
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How the financing will support job creation
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How the business will repay the facility, where applicable
3. Keep your business records organised
A proper business structure and reliable financial records can make it easier to demonstrate that your company is ready for institutional financing.
4. Be careful with agents
Do not pay anyone who claims they can guarantee approval.
Use official BOI and NCDMB channels for information and applications.
Why These Funds Matter to Nigerian Businesses
The oil and gas industry remains an important part of Nigeria's economy, but local businesses often face significant barriers when trying to compete with larger international companies.
Affordable business financing can help Nigerian companies:
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Purchase modern equipment
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Increase production
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Employ more workers
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Execute larger contracts
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Manufacture products locally
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Reduce dependence on imported equipment
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Develop technical capacity
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Improve competitiveness
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Expand into new markets
The NOGaPS initiative is particularly focused on developing local manufacturing capacity. NCDMB says the parks are intended to support indigenous manufacturing, reduce dependence on imported oil and gas components and create employment.
Frequently Asked Questions About BOI/NCDMB Intervention Funds
Is the NCI Fund a grant?
No. The traditional NCI Fund facilities are financing arrangements that must be repaid according to the agreed terms. The NCI Equity Investment Scheme is also not a grant; it provides capital in exchange for equity under its investment structure.
How much can I get from the NCI Fund?
The amount depends on the specific financing product. Current BOI information lists limits such as US$10 million for asset acquisition, US$5 million for contract financing, US$2 million for loan refinancing and ₦20 million for the community contractor product in its current product brochure.
Community contractor financing has also been revised under a newer structure, so applicants should confirm the current limit before applying.
How much can I get from the NOGaPS Manufacturing Fund?
The current BOI product information lists a minimum single-obligor limit of US$250,000 or ₦100 million and a maximum of US$3 million or ₦1.5 billion.
What is the interest rate for the NOGaPS Fund?
The current BOI product brochure states 5% per annum for US dollar financing and 9% per annum for Naira financing.
Do I have to operate in a NOGaPS park to access the NOGaPS Manufacturing Fund?
The fund is specifically designed to support businesses within the Nigerian Oil and Gas Parks Scheme. Applicants should therefore satisfy the applicable NOGaPS location and operating requirements.
Is the NCI Fund currently open?
BOI's current intervention-fund platform lists the BOI/NCDMB Intervention Funds among its ongoing programmes.
When does the application close?
No specific closing date is currently published on the BOI central intervention-fund platform. Interested applicants should apply on time while the portal is still opened.
Where can I apply?
Applications can be started through the official BOI/NCDMB portal:
Apply for BOI/NCDMB Intervention Funds
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Conclusion
The BOI/NCDMB Intervention Funds provide an important financing route for Nigerian businesses looking to participate more strongly in the oil and gas industry.
The NCI Fund is the broader option, covering different financing needs such as asset acquisition, contract execution, refinancing and community contractor financing. The introduction of the US$100 million NCI Equity Investment Scheme also adds a new long-term capital option for qualifying businesses.
The NOGaPS Manufacturing Fund is more specialised. It is aimed at businesses that want to establish or expand manufacturing operations within Nigeria's Oil and Gas Parks and provides financing on terms designed around the longer investment cycle of manufacturing.
If your business operates in the oil and gas value chain, it is worth checking which financing window matches your business needs before applying.
Always use the official BOI/NCDMB application portal and verify the latest requirements, interest rates, funding limits and eligibility conditions before submitting your application.