More than 130 indigenous oil and gas companies have received over $400 million in support from the Nigerian Content Development Fund, according to officials responsible for the programme.
The figures were disclosed during the launch of a digital portal for the Nigerian Content Fund Compliance Certificate.
Managing Director Emmanuel Yusuf said the new system would make compliance verification faster and improve access to financing.
The Nigerian Oil and Gas Industry Content Development Act requires a percentage of qualifying upstream contract values to be paid into the fund.
Companies must demonstrate compliance before gaining access to some financing opportunities.
Yusuf said the fund had helped raise local participation in the petroleum industry and improve access to capital for Nigerian companies.
He said additional financing initiatives included a $100 million equity investment scheme and other programmes designed to strengthen indigenous capacity.
Compliance confirmation had previously relied heavily on physical documents and manual verification, leading to delays.
The new portal will allow companies to apply online, monitor progress and obtain status updates without visiting offices.
Regulators will also be able to verify compliance in real time and maintain a central digital record.
Nigerian Content Development and Monitoring Board officials said the system should improve transparency, efficiency and ease of doing business.
They encouraged eligible Nigerian companies to use the upgraded portal to access financing and build stronger local capacity in the oil and gas value chain.
