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How FirstBank Employees Are Making A Difference in Their Immediate Environments Through The SPARK Initiative

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Every other day, social media brings us a picture or video of a dilapidated school somewhere in Nigeria or shares images of a distraught widow, a struggling roadside trader or street hawker or some other hapless victims of the extremely harsh realities of living in Nigeria.

Immediately, as if on cue or automated, viewers launch into stinging attacks of government, public officials, the privileged class and even Nigeria itself. The attacking mob wastes no time in calling for the government’s head or the heads of public officials with responsibilities in the jurisdiction or sector where the unfortunate sights surfaced from.

The online mob seems unconcerned that while its eyes and ears, aided and locked in by the binoculars and headsets of social media, are completely focused on distressing situations it may not be able to help other than rant about, countless situations that it can help are calling for attention in its immediate neighbourhood every single day.

Focusing on things so far away while ignoring or pretending not to see the things in one’s immediate vicinity is a human tendency that is well recognised. Journalists even have a term for a similar or related behaviour among their own. “Afghanistanism” is the tendency of the media to focus on news and happenings in remote places and other parts of the world to the exclusion or neglect of covering happenings and problems in the local environment of the media. It is like the psychological or emotional equivalent of the eye defect medical practitioners refer to as hyperopia or farsightedness. Sufferers can see objects that are far away but have difficulty focusing on objects that are up close.

By focusing on faraway objects people do not have to offer to give a helping hand but can offer their finger to point at others and their tongue to criticise and pontificate. Everyone can criticise and pontificate online or become an “e-warrior”, like Nigerians like to call it, fighting government and whoever and whatever in society they are unhappy with from the comfort and safety of their bedroom and behind their keyboard. It is the easiest of things to do but not the noblest or kindest. It is a well-trodden path but should never be confused with taking the high road in reaching out with compassion to people around whose lives and circumstances could do with some kindness.

Taking the high road rather than practising Afghanistanism or psychological hyperopia is the approach adopted by First Bank of Nigeria Limited, the premier bank in West Africa with its impact woven into the fabric of society. This approach has played an important role in sustaining FirstBank’s development-oriented services for over 127 years as the region’s foremost financial inclusion services provider. It has been a driving motivation for how the bank operates.

FirstBank always considers the impact of all its operations and actions on customers and other stakeholders, including the environment, to ensure it is making a net positive difference in the end. And this orientation has attracted the bank people who share a similar outlook – whether as employees, partners, or other stakeholders. They look forward every year to an opportunity to follow in the footsteps of the bank and make a net positive difference in their own immediate environments. These men and women do not pretend that they can solve or intervene in all the challenging situations confronting people in their immediate environments but they do not refrain whenever they can lend a helping hand and make a difference.

Through an Employee Giving and Volunteering programme employees of FirstBank find a ready platform to fully identify with the compassionate disposition of the bank, which further has a number of initiatives that enable employees to give expression to this identification. The Start Performing Acts of Random Kindness (SPARK) Initiative is but one such initiative. Aimed at expanding and deepening FirstBank’s involvement within the communities of its various stakeholders, SPARK seeks to do so by integrating and institutionalising random acts of kindness in society.

Among employees, SPARK has inspired and encouraged kindness and empathy as well as consideration for others. It has also contributed to employee bonding and teamwork, which have been critical to enhancing work performance.

This year’s implementation of the SPARK Initiative has seen employees under the banner of their various departments make choices regarding the specific nature of intervention they would want to undertake and the specific group of people or institutions within their immediate communities that they would want to extend the milk of human kindness to. Employees and their departments could choose any one of the four areas that constitute FirstBank’s corporate responsibility and sustainability (CR&S) pillars: Education, entrepreneurship, health and welfare, and environment.

Under education, they have had a choice to make between support for infrastructural facilities in schools, such as the renovation of dilapidated buildings, painting of school buildings, and provision of laptops and desktops; or donation of items such as classroom chairs and tables, books and stationaries; or provision of scholarships for best students, feeding of school students per day or week, funding of a school initiative such as JETS club, bootcamp, space club, etc.

If employees and their departments were interested in supporting entrepreneurship, then they had the chance to empower through entrepreneurship programmes of their choosing such as sponsoring youth and women to acquire skills like fashion designing, baking, hairstyling, make-up artistry, electrical repairs, event decoration and planning, catering, etc., or enabling entrepreneurs with tools and equipment to work or supporting SMEs and start-ups.

Where the health and welfare area was their preferred area of intervention, employees and their departments could choose from: donations to orphanages (selected from an approved list of orphanages); support to a good cause, for example lending a helping hand to the Down Syndrome Foundation; support to widows; support to people with health-related issues; and off-setting medical bills.

And if employees and their departments were to decide to go for the environment, then they could choose from: support to environmental issues, such as support to Nigerian Conservation Foundation (NCF) initiatives; donation of garbage cans to a community; partnership with a recycling firm to recycle waste; support to LAWMA such as donating cleaning tools (brooms, dustbin parkers), etc.

While several departments in FirstBank did things worth showcasing so the good citizens of Nigeria (individual and corporate) can emulate, this piece has just enough space to accommodate the activities of only three departments: Human Capital Management and Development (HCMD), Compliance, and Marketing and Corporate Communications (M&CC) departments. The employees in these departments seemed involved in efforts to outdo each other in acts of kindness, which made more sense and would leave a real difference on the ground as against criticising and pontificating online on faraway issues.

The Human Capital Management and Development department decided that reaching out to one of the most vulnerable groups in Nigeria – underprivileged widows and their underfed children – was the best way they could stay true to the “Human” in their name. And employees in the department moved beyond their Marina location to the nearest environment where some of the most vulnerable widows are to be found to go show kindness.

The Makoko community situated in Lagos Mainland and which CNN once described in a report as “Nigeria’s floating slum” was overwhelmed to receive the august visitors from HCMD bearing so much foodstuff to benefit their widows and children. What they did not realise was the overwhelming sense of gratitude felt by their benefactors for the opportunity to be able to give back.

Tagged “Feed a Widow Initiative”, the undertaking was HCMD employees’ way of putting a smile back on the faces of widows in impoverished communities and they got more than they could ever have imagined. Their hosts received them with the broadest of smiles and said goodbye to them with the grandest of gratitude; and they left with very broad smiles on their own faces. The jury is still out on who between the hosts and their guests ended up with the broadest of smiles on the day. And given the “fierce contest” to outdo the other in smiling, one is again forced to wonder why people labelled e-warriors would choose to forfeit this kind of real joy for the joyless world they have locked themselves in by clinging on to Afghanistanism and psychological hyperopia.

Not so for employees in the Compliance department. Not to be outdone and, in fact, as though going up the hierarchy of human needs, Compliance employees decided that they would focus on the education need of their beneficiary community. HCMD had done an excellent job of providing the basic “stomach infrastructure” without which it would be difficult, if not impossible, to get any of the beneficiaries interested in any talk about more sublime matters like education and mental development.

So, employees of Compliance department, in order to encourage pupils to continue their pursuit of education, procured Mathematics and English Language textbooks for 617 pupils who would be in senior secondary (SS) 1 and 2 classes of Gbara Community Secondary School in Jakande, Ajah in the next academic session. The visit to the school and book donation were undertaken when the pupils were in the third term preceding the new academic session.

The gesture was Compliance employees’ own way of giving back in such a manner as to relieve the pupils of this public school, particularly those from indigent homes, and their parents or guardians of the financial burden involved in providing textbooks for the two core subjects. It was also, in an uncanny way, an attempt by the employees to ensure the pupils were in full compliance with the requirements for taking on the two most important subjects in the secondary school curriculum, putting the pupils at a vantage position to excel in these two essential subjects.

There were other benefits of the engagement that the employees noted. They observed that their presence in the school inspired the children, giving them “hope that a better life was within reach and could be achieved.” The employees thus expressed optimism that the engagement boosted the children’s interest in succeeding in life through the pursuit of education.

For employees of the Marketing and Corporate Communications department (M&CC), entrepreneurship was the area they decided to focus on, to make a difference in their own immediate environment. Every day they came to their office on Broad Street or the bank’s head office in Marina, they passed by a number of roadside traders around the various office buildings in the locations. They observed that some of these traders were exposed to the elements or having difficulties in their business and struggling to make ends meet, and decided that they would do something about it. And true to their word, they did something about it that made so much difference in the businesses and circumstances of the traders. They provided the traders the following: branded umbrella to offer shade from both sun and rain, improving the conditions under which they operated and their quality of life; branded chairs and tables to accommodate more customers in their corner as well as grants to boost their business capital.

Anyone who has met with employees in the corporate communications department of any major bank in Nigeria would readily admit that these professionals have among them some of the most skilful digital marketers around. So, it is not for lack of skills to be e-warriors that M&CC employees chose to extend the milk of human kindness flowing in them to roadside traders around their office rather than practise Afghanistanism. They could have chosen to concentrate all their time and resources on attacking the government online and blaming public officials for all the challenges in the economy and the spate of insecurity all over the nation and whatever else would make M&CC employees true champions of Afghanistanism and psychological hyperopia. But would that make any difference to the lot of the roadside traders around them and lessen their burden? So, M&CC employees chose the road less travelled but one that could deliver the desired impact, and it did.

There are so many lessons to draw and feelings to take away from the examples demonstrated by employees of these three departments in Nigeria’s foremost lender. Besides committing their time and resources to their chosen humanitarian initiatives using the platform of the SPARK Initiative that places FirstBank at the forefront of the social impact space through employee advocacy, the employees have shown that they have the milk of human kindness flowing through their veins. They have demonstrated that they would rather consider how they could extend kindness to people around them and make a difference than pretend not to see the situations affecting those around them while playing Afghanistanism and psychological hyperopia online.

For the rest of us who are not FirstBank employees, the message could not be clearer: The next time we feel like we must share on social media distressing images to provoke government-bashing or we feel constrained to make stinging comments on such images that are shared to criticise Nigeria, we should first pause and look around us. We should look to see if we can identify situations where we, not the government or Nigeria, can make a difference. Then we should take our fingers off the keyboard and go out there or make that call that will make a difference in some other person’s life and circumstances. We should be like FirstBank and its employees. We should follow their example of trying to outdo themselves in showing kindness to others. We should start where we are with what we have, to make a difference right now – yes, this very minute and not some future time.

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ExxonMobil Affirms Commitment to Nigeria Amid Divestment Speculations

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Shane Harris, the Managing Director of ExxonMobil Nigeria, has reaffirmed the company’s commitment to its operations in Nigeria.

Addressing the speculation surrounding ExxonMobil’s proposed divestment of its 100 percent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited, Harris made it clear that ExxonMobil is not planning to exit the Nigerian market.

Harris conveyed this assurance during a meeting with Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), in Abuja.

This meeting, highlighted in a statement released by Nneamaka Okafor, the Special Assistant on Media and Communications to the petroleum minister, emphasized ExxonMobil’s plans for significant new investments in Nigeria’s energy sector.

“During the meeting, Mr. Harris hinted at significant new investments that ExxonMobil is injecting into Nigeria’s energy sector,” the statement read. “He expressed confidence in the renewed relationship between ExxonMobil and the Nigerian government, assuring the government that the oil giant is not planning to leave Nigeria.”

Harris underscored the importance of ExxonMobil’s partnership with the Nigerian government, stating, “We are excited about the prospects these new investments bring. Our partnership with the Nigerian government is crucial for sustainable growth, and we look forward to continuing our collaboration as we have no plan to leave.”

In response, Lokpobiri reaffirmed the Federal Government’s commitment to enhancing production and fostering a conducive environment for investors in the energy sector.

He emphasized the ministry’s focus on creating collaborations and sharing innovative ideas with international oil companies.

“We are dedicated to ramping up production and ensuring a supportive environment for all investors by doing everything possible to maintain investor confidence in our country,” Lokpobiri said.

He also commended the ExxonMobil team for their commitment to the Nigerian oil and gas sector, noting that it aligned perfectly with the nation’s objectives.

“ExxonMobil’s planned investments are commendable and greatly appreciated. This renewed relationship is a testament to the mutual goals we share for the future of our energy sector,” the minister added.

The discussions between ExxonMobil and the Nigerian government also touched on the ministry’s support for international and independent oil operators.

Lokpobiri assured Harris of the government’s support, emphasizing the importance of creating a thriving environment for all stakeholders.

“We fully support ExxonMobil and other international oil companies, just as we do with independent operators. Our collaborative efforts are key to the sustainable growth of our energy sector,” Lokpobiri stated.

This development comes after months of uncertainty surrounding ExxonMobil’s assets in Nigeria.

On May 31, 2024, it was reported that Nigeria might add 480,000 barrels to its daily crude oil output as the Nigerian National Petroleum Company Limited (NNPC) and ExxonMobil moved towards resolving their disagreements over the sale of ExxonMobil’s assets to Seplat Energy.

The NNPC had signed a settlement agreement with ExxonMobil regarding the proposed divestment, following intervention by President Bola Tinubu to resolve the crisis that had led to substantial production losses.

Lokpobiri previously stated that Nigeria had lost about $30 billion over the past two and a half years due to the Seplat/ExxonMobil crisis, with a daily loss of around 480,000 barrels of crude oil.

Despite the challenges, the recent affirmations from ExxonMobil and the Nigerian government signal a renewed commitment to the country’s energy sector and a positive outlook for future collaborations and investments.

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Dangote Refinery Struggles Amid Alleged IOC Sabotage, Calls for Government Support

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Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited (DIL), has accused International Oil Companies (IOCs) in Nigeria of undermining the operations of Dangote Oil Refinery and Petrochemicals.

Edwin claims that these IOCs are deliberately obstructing the refinery’s efforts to purchase local crude oil by inflating prices above market rates, compelling the refinery to import crude from as far afield as the United States at significant additional costs.

Speaking at a one-day training programme for Energy Editors organized by the Dangote Group, Edwin expressed his frustration over the challenges faced by the refinery.

“While the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is trying their best to allocate crude to us, the IOCs are deliberately frustrating our efforts to buy local crude. They are either asking for an excessive premium or claiming crude is unavailable. At one point, we paid $6 above the market price, forcing us to reduce output and import crude, increasing our production costs,” Edwin lamented.

The refinery, which began production recently, has exported over 3.5 billion liters of fuel, representing 90% of its output.

However, Edwin warned that the IOCs seem intent on ensuring that Nigeria remains dependent on imported refined petroleum products by exporting raw materials to their home countries and re-importing the refined products, thereby creating employment and wealth abroad while Nigeria grapples with unemployment and economic challenges.

Edwin also criticized the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for indiscriminately issuing licenses to importers, leading to an influx of substandard, high-sulfur diesel and other refined products into Nigeria.

“Despite our compliance with ECOWAS regulations and standards, dirty diesel from Russia is being dumped into the Nigerian market. This has serious health implications for Nigerians,” he stated.

In recent months, reports from Agence-France Presse highlighted the detrimental impact of these imports, with high-sulfur fuels linked to carcinogenic effects.

European countries like Belgium and the Netherlands have already banned the export of such fuels to West Africa, citing their harmful impact on air quality and public health.

Edwin urged the Nigerian government and regulators to provide necessary support to ensure the refinery’s success.

“The Federal Government issued 25 licenses to build refineries, and we are the only one that delivered on our promise. We deserve every support from the government to create jobs and prosperity for the nation,” he asserted.

He also appealed to the National Assembly to expedite the implementation of the Petroleum Industry Act (PIA) to safeguard Nigeria’s interests and ensure that the country’s refining capacity is fully utilized.

“Ghana has banned the importation of highly contaminated diesel and petrol into their country through legislation. It is regrettable that, in Nigeria, import licenses are granted despite knowing that we have the capacity to produce nearly double the amount of products needed domestically and export the surplus,” Edwin concluded.

The Dangote Refinery’s predicament underscores the broader challenges facing Nigeria’s energy sector, where regulatory and market dynamics continue to pose significant hurdles for local enterprises striving to boost domestic production and reduce dependence on imports.

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Nigeria’s Dangote Refinery Breaks Into Asian Market with LSSR Shipment

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Aliko Dangote - Investors King

In a historic move, Dangote Refinery is set to ship low-sulfur straight-run fuel oil (LSSR) from Nigeria to Singapore this week, its entry into the Asian market.

This development represents a significant milestone for the refinery, which began operations in January following a $20 billion investment.

According to ship tracking data and market sources, the refinery will initiate a new trade route from Nigeria to Asia, a region that consistently demands low-sulfur fuel oil for ship refueling at Singapore, the world’s largest bunker hub.

The Glencore-chartered vessel, Front Brage, will deliver approximately 124,000 metric tons (787,400 barrels) of LSSR to Singapore, with the shipment expected to arrive on Wednesday.

The Dangote Refinery, with a processing capacity of up to 650,000 barrels of products per day, is poised to become the largest refinery in Africa and Europe once it reaches full capacity.

Since March, the refinery has increased its LSSR exports, primarily sending cargoes to the Americas and Europe, as reported by ship tracking data from Kpler and Vortexa.

“This first shipment to Asia marks a new chapter in Dangote Refinery’s expansion strategy,” said a market analyst. “Breaking into the Asian market underscores the refinery’s growing influence and its capability to meet diverse global fuel demands.”

Market sources suggest that the cargo was redirected to Asia due to weaker demand in Europe. Data from LSEG indicates that the east-west spread for front-month 0.5 percent LSFO, reflecting the price difference between these regions, stayed above $40 per ton this week.

Dangote’s LSSR cargoes are priced against Rotterdam’s 0.5 percent LSFO quotes on a free-on-board basis, although the specific pricing differential for this shipment was not disclosed by market sources.

This pioneering shipment is the beginning of a series of exports to Asia. Another LSSR shipment from the Dangote refinery, containing around 157,000 tons, is expected to reach Singapore in July aboard the vessel Stena Suede, based on ship tracking data.

LSSR is typically blended with other fuels to create low-sulfur fuel oil (LSFO) for bunkering or used as feedstock in various refinery processes.

This export initiative not only diversifies Dangote Refinery’s market reach but also enhances Nigeria’s position in the global energy market.

In February, Dangote began exporting oil products and started purchasing crude oil, mainly from the Nigerian National Petroleum Company (NNPC) Ltd, in December 2023.

The refinery’s successful entry into the Asian market is anticipated to drive further growth and establish new trade relationships, reinforcing its status as a key player in the global oil industry.

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This landmark export not only demonstrates Dangote Refinery’s operational capabilities but also signals Nigeria’s expanding influence in the global energy sector. As the refinery continues to innovate and expand, it is well-positioned to meet the increasing global demand for cleaner, more efficient fuels.

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