Nigerian Content Intervention Fund Application

Target Market – For manufacturers as well as other Original Equipment Manufacturers (OEM’s) in the Nigerian oil and gas industry who are contributors to the Nigerian Content Development Fund to procure :

• Fixed Assets
• Working Capital
• Leasing of Industrial and business equipment

Loan Type – Term Loans, Working Capital Finance (Time Loans) and Leasing

Amount – Up to $10million

Equity Contribution – 10% of total project cost

Interest Rate – 8 %

Moratorium – From 6 Months to a maximum of one (1) year moratorium on principal repayment subject to review of company’s cash flows

Tenor – Maximum of five (5) years but tied to the payment tenor of the contract.

Security arrangement / Nigerian Content Intervention Fund

• Bank Guarantees from the Eligible Banks as approved by BOI
• Treasury Bills or Federal Government Bonds

Loan Application Checklist

• 1. Formal Application Letter on company Letter Head

• 2. Certificate of Incorporation/Registration

• 3. Memorandum and Articles of Association (MEMART)

• 4. Certified True Copy of Form CAC 2.5 (Allotment of Shares)

• 5. Certified True Copy of Form CAC 2.3 (Particulars of Directors)

• 6. Certified True Copy of Form CAC 2.1 (Appointment of Company Secretary)

• 7. Recent Tax Clearance Certificate of the company

• 8. Recent Tax Clearance Certificates of two (2) Directors of the company.

• 9. Means of identification (i.e. photocopy of International Passport or Driver’s License or National Identity Card or Permanent Voter’s Card)

• 10. Feasibility Report/Business plan

• 11. Evidence of required permits by the Oil and Gas Industry regulators such as DPR, NCDMB and Nigerian Petroleum Exchange(NIPEX) (where applicable) to operate in the oil and gas Industry.

• 12. Evidence of the requisite approval from regulatory bodies for the manufactured goods

• 13. Valid contract from an International Oil Company (IOC)

• 14. Evidence of performance on similar contracts.

• 15. Transaction documents typical of the project to be financed

• 16. Quotation/Proforma Invoice for the supply of the items of Machinery & Equipment

• 17. Sources and Quotations for Raw Materials expressed in quantity and amount

• 18. Evidence of approved Environmental Impact Assessment (EIA) Report on the manufacturing plant

• 19. Recent three (3) years Audited Account of the Company, Institutional Investors or any other Company owned by the Chief Promoter

• 20. Recent Bank Statements of the Company for the past one (1) year

• 21. Curriculum Vitae (CV) of the Directors and Key Management Staff

• 22. Evidence of collateral (e.g. Letter of intent from Commercial Bank for Bank Guarantee, Treasury Bills, etc). The letter of Intent must be signed by the Chief Risk Officer and/or an Executive Director of the issuing Bank.

23. Bank of Industry Questionnaire

Loan Type – Term Loan, Leasing, Working Capital

Amount – Up to $10million

Equity Contribution – 10% of total acquisition cost of asset

Interest rate – 8%

Tenor – Maximum of 5years

Moratorium – From 6 Months to a maximum of one (1) year moratorium on principal repayment subject to review of company’s cash flows and contract receivables.

Security arrangement

• Bank Guarantees from the Eligible Banks as approved by BOI
• Treasury Bills or Federal Government Bonds

Loan Application Checklist

• 1. Formal Application Letter on company Letter Head

• 2. Certificate of Incorporation/Registration

• 3. Memorandum and Articles of Association (MEMART)

• 4. Certified True Copy of Form CAC 2.5 (Allotment of Shares)

• 5. Certified True Copy of Form CAC 2.3 (Particulars of Directors)

• 6. Certified True Copy of Form CAC 2.1 (Appointment of Company Secretary)

• 7. Recent Tax Clearance Certificate of the company

• 8. Recent Tax Clearance Certificates of two (2) Directors of the company

• 9. Means of identification (i.e. photocopy of International Passport or Driver’s License or National Identity Card or Permanent Voter’s Card

• 10. Feasibility Report/Business plan

• 11. Evidence of required permits by the Oil and Gas Industry regulators such as DPR, NCDMB and Nigerian Petroleum Exchange(NIPEX) (where applicable) to operate in the oil and gas Industry.

• 12. Valid contract from an International Oil Company (IOC).

• 13. Evidence of performance on similar contracts.

• 14. Quotation/Proforma Invoice for the asset to be acquired

• 15. Evidence of approved Environmental Impact Assessment (EIA) Report on the manufacturing plant

• 16. Recent three (3) years Audited Account of the Company, Institutional Investors or any other Company owned by the Chief Promoter

• 17. Most recent Management Account

• 18. Transaction documents typical of the asset to be financed

• 19. Recent Bank Statements of the Company for the past one (1) year

• 20. Curriculum Vitae (CV) of the Directors and Key Management Staff

• • 21. Evidence of collateral (e.g. Letter of intent from Commercial Bank for Bank Guarantee, Treasury Bills, etc). The letter of
  Intent must be signed by the Chief Risk Officer and/or an Executive Director of the issuing Bank.

• 22. Bank of Industry Questionnaire

Also Read & Apply: 5 Non-farming Agricultural Business You Can Do

Loan Types – Term Loans, Working Capital Finance (Time Loans), Invoice Discounting and Leasing

Amount – Up to $5million

PRICING – 8%

Tenor – Maximum 5 years

Moratorium period – From 6 Months to a maximum of one (1) year moratorium on principal repayment subject to review of company’s cash flows

Tenor – Maximum of 5 years

Security arrangement

• Bank Guarantees from the Eligible Banks as approved by BOI
• Treasury Bills or Federal Government Bonds
• Legal Mortgage on acceptable property located in Abuja, Lagos or Port Harcourt and Domiciliation of contract proceeds
• Fixed Asset Coverage must be a minimum of 2 times the facility amount

Loan Application Checklist

• • 1. Formal Application Letter on company Letter Head

• 2. Certificate of Incorporation/Registration

• 3. Memorandum and Articles of Association (MEMART)

• 4. Certified True Copy of Form CAC 2.5 (Allotment of Shares)

• 5. Certified True Copy of Form CAC 2.3 (Particulars of Directors)

• 6. Certified True Copy of Form CAC 2.1 (Appointment of Company Secretary)

• 7. Recent Tax Clearance Certificate of the company

• 8. Recent Tax Clearance Certificates of two (2) Directors of the company

• 9. Means of identification (i.e. photocopy of International Passport or Driver’s License or National Identity Card or Permanent Voter’s Card)

• 10. Feasibility Report/Business plan

• 11. Evidence of required permits by the Oil and Gas Industry regulators such as DPR, NCDMB and Nigerian Petroleum Exchange(NIPEX) (where applicable) to operate in the oil and gas Industry.

• 12. Signed Local Community Development Agreement (CDA)

• 13. Valid contract from an International Oil Company (IOC)

• 14. Evidence of performance on similar contracts.

• 15. Transaction documents typical of the project to be financed

• 16. Quotation/Proforma Invoice for the supply of the items of Machinery & Equipment

• 17. Sources and Quotations for Raw Materials expressed in quantity and amount

• 18. Recent three (3) years Audited Account of the Company, Institutional Investors or any other Company owned by the Chief Promoter 19. Most recent Management Account

• 20. Recent Bank Statements of the Company for the past one (1) year

• 21. Curriculum Vitae (CV) of the Directors and Key Management Staff

• 22. Evidence of collateral (e.g. Letter of intent from Commercial Bank for Bank Guarantee, valuation report, copy of the title documents to the property or assets being pledged, Treasury Bills, etc). The letter of Intent must be signed by the Chief Risk Officer and/or an Executive Director of the issuing Bank.

23. Bank of Industry Questionnaire