NEITI, NCDMB Partner on Deployment of $40m Women in Oil Intervention Fund

Emmanuel Addeh in Abuja

The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Nigerian Content Development and Monitoring Board (NCDMB) have agreed to forge a closer partnership to enhance women’s participation in the oil, gas, and mining industries.

This commitment was reached between the Executive Secretary of NEITI, Dr.  Ogbonnaya Orji, and the Executive Secretary of the NCDMB, Dr. Felix Ogbe, during a meeting on the sidelines of an event in London.

A statement by NEITI  said Orji expressed concern over the recent NEITI reports, which show a decline in women’s representation in the oil and gas industry, despite global Extractive Industries Transparency Initiative (EITI) standards advocating for gender inclusivity.

“When I reviewed the data in the recently released 2022 and 2023 oil and gas industry reports, it was concerning to see the downward trend in women’s representation. In 2022, out of 6,728 employees in the oil and gas industry, only 1,144, or 17 per cent, were women. In 2023, the total number of employees increased to 8,694 while women accounted for 1,391.

“Although there seems to be an increased number of women employed in 2023, the percentage of women employed, compared to the total number of employees in the sector declined to 16 per cent. This trend underscores a persistent and gradual gender imbalance in Nigeria’s extractive industries,” the NEITI executive secretary said.

Orji called for closer collaboration between NEITI and the NCDMB to address this widening gap in gender representation, especially in the mining and steel sectors, where women’s participation is a global priority.

At the meeting the Executive Secretary of NCDMB, Ogbe welcomed the opportunity to work collaboratively with NEITI to promote gender inclusivity.

 Ogbe announced that the board has floated a $40 million Women in Oil and Gas Intervention Fund, in partnership with the Nigerian Export-Import Bank (NEXIM).