Oil, gas: Women to benefit from NCDMB, Nexim $40m intervention fund

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has disclosed that women in the energy sector can now benefit from the $40millon Oil and Gas Intervention Fund deployed by the Nigerian Content Development and Monitoring Board (NCDMB) and Nexim Nigerian Export-Import Bank.

This was even as a Firm, Selai Gas Station limited launched a 30 metric tonnes refill plant in Lagos with a promise to provide subsidised cylinders for women.

Speaking through the Manager, Projects and Operations, NCDMB, Adewale Adenugba, at the launch, Wabote stressed the need to further deepen the growth in the usage of liquefied petroleum gas (LPG).

According to him, the plant, set up in the Agege area of Lagos was aimed at empowering women by providing gas cylinders at a reduced price and on flexible payment while transporters are also going to benefit through delivery solution.

Wabote, who had commended Selai Gas Station limited as a front-runner in taking practical steps in the “Decade of Gas” journey quoted data released from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), stating that it was the first time domestic LPG consumption would reach the 1 million MT mark.

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Wabote added that the commissioning shows the contribution of the private sector taking the bull by the horn in bringing government’ policies into reality.

“Beyond the volumes, the economic, social and environmental benefits of switching from solid and liquid forms of fuel to gaseous form are enormous, which I have noticed is part of your company’s mantra,” he said.

He said the deaths and illnesses caused by smoke and wood fumes were nothing to be proud of for a country sitting on 203tcf of proven gas reserves.

“l understand that this is a female lead organisation, congratulations on breaking the bias to further support women entrepreneurs in the Nigerian Oil and Gas industry you can now benefit from the US$40m Women in Oil and Gas Intervention Fund deployed by the Nigerian Content Development and Monitoring Board (NCDMB) and Nexim Nigerian Export-Import Bank,” he said.

In her remarks, Chief Executive Officer, SELAi Gas Station Limited, Damilola Owolabi, said the cylinder programme will provide cylinders for women at subsidised rates where payment is spread for a stipulated period of time.

“The plan we have is that we have a cylinder programme where we are going to be empowering women more like partnering with them to give them cylinder at a very subsidised rate, then the payment is done over a long period of time, just so that we encourage the energy transition message that we are preaching to them.

“Also we are involving the men, whereby we would be uberising our delivery. Any man within this community that has tricycle, when you register with us, we ensure that you are trained on how to take delivery of gas to our clients giving you the platform to also make money,” she said.