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flag Nigerian oil firms must pay 1% levy to local content fund, with new compliance rules to avoid delays.

flag The Nigerian Content Development Monitoring Board (NCDMB) requires upstream oil and gas companies to pay a 1% levy on all contracts to the Nigerian Content Development Fund (NCDF), as mandated by law. flag Payments must go only into NCDMB-designated accounts, and non-compliant payments will not be accepted. flag A new compliance certificate is now required for regulatory approvals and clearances. flag The fund supports local contractors through training, financing, and capacity building. flag The NCDMB stresses timely compliance to avoid operational delays and emphasizes transparency in fund management.

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