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Our Reporter The Nigerian Content Development and Monitoring Board (NCDMB) and the Petroleum Technology Association of Nigeria (PETAN) on Monday signed an agreement on US$30m Working Capital Scheme that will support the operations of oil companies against the adverse effects of COVID-19 Pandemic and loss of contracts due to low oil price. The Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote, and the Chairman of PETAN, Mr. Nicolas Odinuwe, signed the Memorandum of Understanding (MoU) on the credit scheme in Abuja. The Working Capital Scheme is one of the newly introduced products in the...

FG approves $30millon direct lending to Nigerian oil services providers FG approves $30millon direct lending to Nigerian oil services providers Share The Federal Government (FG) has approved $30million as direct lending to the Nigerian oil service providers. The sum was approved under the Nigerian Content Development and Monitoring Board (NCDMB)/Nigerian Capital Development Fund (NCDF) working capital scheme. Engr Wabote Simbi, Executive Secretary, NCDMB, made the disclosure, on Monday, at the signing of a Memorandum of Understanding (MoU)with the Petroleum Technology Association of Nigeria ...