NCDMB Offers N76bn Intervention Funds To Support Local Companies

As part of efforts to grow the economy and support local companies, the Nigerian Content Development and Monitoring Board (NCDMB) has made available $200 million (about N76 billion) as intervention fund through loans...


As part of efforts to grow the economy and support local companies, the Nigerian Content Development and Monitoring Board (NCDMB) has said it has made available $200 million (about N76 billion) as intervention fund through loans.

Simbi Wabote, NCDMB Executive Secretary, stated this in Yenagoa, the Bayelsa State capital, on Friday, at a capacity building workshop for Energy and Business Correspondents, entitled: 'NCDMB and the Nigerian Content Intervention Fund'.

Represented by Isaac Iyalah, the Director, Finance and Personnel Management, the Executive Secretary revealed that, so far, about 45 applications had been received.
While 11 applications have been approved, he noted that $11 million had also been released to the qualified beneficiaries.