Some of the programmes being implemented by the Company to develop the capacity of Nigerian-owned companies to actively participate, on sustainable basis, in the oil and gas industry, and to close critical gaps include:
Vendor Development Program through which indigenous Contractors are equipped with basic project and financial management skills to guarantee successful and efficient project delivery. So far, 234 contractors have been trained on this programme since inception in 2011.
Vendor Gap Closure Program under which a historic milestone was recorded in October 2014 when over 300 Nigerian contractors were matched with some Original Equipment Manufacturers (OEMs) to close identified Nigerian Content gaps in the NAE Deep Offshore development operations. Business Leadership and Succession Planning Workshops have also been implemented under this scheme to equip Owner(s)/Partner(s)/Proprietor(s)/Management of Small and Medium-sized Enterprises (SMEs) with best practices in planning for the continuity and sustainability of their businesses even after the death, incapacitation or retirement of the owners.
Vendor Awareness and Sensitization Program which have served to educate indigenous contractors on regulatory requirement and equip them with knowledge and best practices required to empower and further enhance their capacity to favourably bid and execute projects in the industry and beyond. About 500 Nigerian contractors have benefitted from this exercise since inception.
Vendor Finance Scheme Between 2015 and 2016, Eni established a Vendor Finance Scheme with 2 banks, Stanbic IBTC and Zenith Bank PLc. The scheme ensures that the banks make funds available for eligible company vendors to finance Contracts and Purchase Orders seamlessly. In October 2017, NAOC signed another Vendors' Finance Scheme with the United Bank for Africa Plc, to provide credit facilities to eligible company vendors by way of project-based financing, corporate financing, loan syndication or other financing structures identified by the Bank.
Nigerian Content Development Fund (NCDF) NAOC was a major partner in the Nigerian Content Support Fund, which provided funds for indigenous companies in the industry at single digit interest rates. The fund metamorphosed into the Nigerian Content Development Fund currently in place under the Nigerian Oil & Gas Industry Content Development Act 2010.