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Indigenous Producers Pledge Compliance to Content Act



  • Indigenous Producers Pledge Compliance to Content Act

Members of the Indigenous Petroleum Producers Group (IPPG) have pledged to support and comply with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.

To cement their commitment, the local operating companies will sign a Service Level Agreement (SLA) with the Nigerian Content Development and Monitoring Board (NCDMB), and this will guide the submission and management of statutory reports between the parties.

The new SLA, akin to the type signed between the Board and the Nigerian Liquefied Natural Gas Company (NLNG) in May 2017, will commit members of the IPPG to complying with the Nigerian Content Act while the Board will keep to a definite response time for reviews and approvals of contracting documentations. The SLA will take into consideration the capacity of the indigenous producing companies and provide necessary concessions as may be necessary.

These resolutions were reached at a meeting between the Executive Secretary, NCDMB, Simbi Wabote and members of the IPPG in Lagos last Wednesday.

The independent producers also promised to partner the Board to equip the Petroleum Technology Development Fund’s Vocational Training facility in Port Harcourt, Rivers State, for the purposes of imparting key skills that are currently lacking in the industry.

Wabote explained at the meeting that indigenous producers were products of the Nigerian Content Policy hence, they needed to work with the Board to take the implementation to the next level.

He stressed that Nigerian Content Act was not applicable to only foreign companies, but to all players in the oil and gas industry. “Some Nigerian companies assume erroneously that being wholly indigenous makes them complaint. But local content extends to employment, procurement, training, among other things,”he said.

The Executive Secretary further challenged the indigenous producers to partner the Board to develop Research and Development Centres of excellence in-country so that problems encountered in their operations can be resolved locally. “The international operating companies have huge research and development (R&D) facilities in their home countries. We can only set up R&D centres in Nigeria with the support of indigenous producers.”

He also tasked the companies on the remittance of Nigerian Content Development Fund’s (NCDF) deductions. He reiterated that the Board will soon commission third-party forensic audit to track and recover due payments on the NCDF.

Chairman of IPPG, Mr. Ademola Adeyemi-Bero, pledged the readiness of the members to comply with the provisions of the Nigerian Content Act. “We want to participate in the Nigerian Content journey and we are ready to engage with the Board to take our projects to the next level,” he said.

He further explained that IPPG was constituted by 25 indigenous operators, including joint venture partners of the Nigerian National Petroleum Corporation (NNPC), marginal field operators and indigenous sole risk operators. According to him, “we ensure corporate governance among ourselves, help to put a respectable face to indigenous producers and offer government a credible platform to engage. We account for between 12/25 per cent of Nigeria’s crude oil production”.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


Transcorp Hotels Expand into Marketplace, Launches Aura to Connect People, Hoteliers, Others



Transcorp hotel

Transcorp Hotels Plc, on Thursday, announced it has launched a new digital platform, Aura, through which people can book accommodation, restaurants and experiences.

Aura, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc. Dupe Olusola said.

For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.


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Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director




Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

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FG Reopens Osubi Airport Warri for Daylight Operations




FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

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