Mohammed Shosanya
Chief Executive Officer, Seplat Energy Plc, Mr. Roger Brown, has emphasized the need for funding in the upstream and midstream segment of the energy sector in Nigeria, and relevant success stories from the
He said attracting the necessary funding will be dependent on regulatory reforms, fiscal terms restructuring and several other relevant policies.
The Seplat Energy CEO said this at the 2023 Nigeria Oil & Gas Conference (NOG) held in Abuja, where he featured on a panel session themed, ‘The Investors Perspective: Assessing the Attractiveness of Nigeria’s Energy Sector.
Brown said: “Nigeria needs more success stories to attract more investments to the upstream sector. We need to solve the insecurity dilemma around the country’s pipeline infrastructure, enforce clarity and separation of powers among regulatory authorities, work closer with field operators to resolve host community issues, and amend fiscal terms of PSCs/PSAs to include more incentives for asset partners
“We also need to improve fiscal terms on gas contracts to support uptake at market reflective prices and improve efficiency and capacity of the Nigerian electricity value chain in order to aid higher uptake of domestic gas supply.”
Speaking on the things investors look out for in Nigerian companies I the quest for gas development in the country, Brown said financially strong company with robust balance sheet, low debt and credible access to international capital markets have an edge.
“Other factors are stock market listing and associated need for governance, with preference for dual-listed companies such as Seplat, where equity can be traded in liquid markets; international accountability and transparency in reporting, particularly as it relates to ESG reporting, with good commitment to sustainability; and good relationships in-country with government, regulators and local communities.”
According to him, Seplat Energy remains commitment creating and sustaining value in the Nigerian upstream sector, and have continued to do via strong investment workplan, host community development, partnerships with government and aggressive human capital development.
Our Commitment To Environmental Sustainability,Biodiversity Unimpeachable-Egbin Power
Egbin Power Plc has re-emphasized the derivable benefits of trees to environmental sustainability and biodiversity.
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According the company, planting trees is one of the approaches it uses to “protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss,” in line with Goal 15 of the Sustainable Development Goals (SDGs).
Speaking during the 2023 Tree Planting Day activities held at Egbin Power Plc, the Chief Executive Officer, Mokhtar Bounour noted the company puts a lot of efforts in making sure the environment is safe, clean and sustainable for everyone. Hence, it is particularly deliberate about its actions that promote sustainability, work-life balance and the well-being of employees.
“Our sustainability roadmap is well-defined, and this translates to an action plan that creates an enabling environment for our employees to offer their best at all times. As part of our tree plant initiative this year, we have planted over 200 trees within our facility including the football field to further strengthen our collective goal towards.
“The trees provide cover for sports lovers while watching their favourite team play on the field. Planting trees is a win-win for people and the planet. It is a simple and effective way to improve our lives and protect our environment. Therefore, as we work to bring energy to life responsibly, we remain committed to our stakeholders while we think globally and act locally in order to keep providing electricity that drives socio-economic development,” Bounour said.
The management and staff of the company expressed excitement to join the Lagos State government in commemorating this year’s Tree Planting Day, while noting that trees play important roles in the ecosystem such as providing food crops, offering shades, preserving biodiversity, beautifying and purifying the environment, amidst other derivable benefits.
“What we give to the environment is what the environment gives back to us. That is why at Egbin Power Plc we are conscious about the impact of our activities on the environment; hence we are committed to caring for our environment,” the company said.
NCDMB Boss Takes Local Content Campaign To African Energy Confab
The Executive Secretary, of the Nigerian Content Development and Monitoring Board, NCDMB, Simbi Wabote, will chair the African Local Content and Entrepreneurship Summit at African Energy Week (AEW) 2023.
He will play a pivotal role in driving engaging discussions, fostering collaboration, and shaping strategies that promote the growth of local content and entrepreneurship in Africa’s energy industry.
With over 20 years of experience in the international, multinational and national business environments, Wabote has established himself as a change agent skilled in strategic business models, engineering, supply chain management and stakeholder management.
Known for his contributions to Nigeria’s oil and gas industry, particularly local content development, Wabote is an ideal choice to chair the African Local Content and Entrepreneurship Summit at AEW. His extensive experience will shape the discussions and agenda of the summit.
Wabote served as Shell C&P’s Global Local Content Manager, where he was responsible for developing the Local Content Strategy in upstream and downstream operations. In this role, he successfully implemented local procurement strategies, developed local and international partnership frameworks, managed cross-functional teams, and aligned global supply chains with local supply chains in several countries, including Nigeria, Gabon, Brunei, Oman, Kazakhstan, Australia, Iraq, Qatar, Jordan, the Americas, the U.S. and new frontier countries for Shell.
The Nigerian Content Development and Monitoring Board and Senegal’s National Content Monitoring Committee have joined forces by signing a Memorandum of Understanding (MoU) that focuses on energy law development, workforce and skills training, and data collection for local content growth.
The collaboration aims to ensure that Senegal maximizes the benefits of its oil and gas reserves while tackling industry challenges and capitalizing on opportunities.
During AEW’s African Local Content and Entrepreneurship Summit, participants can anticipate dynamic discussions addressing the challenges and opportunities of local content development and entrepreneurship in Africa’s energy sector.
This summit, a key highlight of AEW, aims to foster growth, job creation, and economic empowerment across the continent by unlocking economic opportunities and enhancing overall development. Valuable outcomes are expected, contributing to sustainable growth and the advancement of local content and entrepreneurship in Africa’s energy sector.
“Wabote’s extensive experience and leadership as the Executive Secretary of the Nigerian Content Development and Monitoring Board make him an ideal candidate for this crucial role. His expertise in developing and monitoring local content initiatives has been instrumental in driving economic empowerment, job creation, and sustainable growth in Nigeria’s energy sector,” states NJ Ayuk, the Executive Chairman of the AEC.
