Energy
NCDMB challenges service companies on employee motivation
…As Wellmann Group rewards staff with coy shares
By Yemie ADEOYE
WARRI-The Nigerian Content Development and Monitoring Board (NCDMB) has charged indigenous service companies to explore creative strategies of motivating their staff so as to retain the skills and capacities they have developed within their companies.
The Executive Secretary of NCDMB, Engr. Ernest Nwapa stated this at the long term service award organized on Saturday in Warri by Wellmann Group, an indigenous oil servicing firm with expertise in heavy lifting and marine transportation, which offered stakes in the company to four of its long serving staff as strategy of rewarding and further motivating them.
Other recipients of the awards were the company’s strategic partners and clients like Nigerdock, Shell, Chevron, Subsea7, Total among others.
Nwapa who was represented at the event by the Board’s General Manager, Monitoring and Evaluation, Engr. Chijioke Okorie explained that retaining quality staff within service companies was fundamental to developing Nigerian Content as it would help firms develop institutional, technological and infrastructural capacities to deliver on projects.
Okorie described the achievements of Wellmann as a confirmation that the Board’s implementation strategies were working and yielding results.
According to him, “There were a number of jobs that some operating companies tried to give out to international service companies. The Board intervened and the jobs were placed with Wellmann. That helped to build the company’s capacity and infrastructure over the years. Wellmann is a good representative of Nigerian Content and the Board is proud of its growth.”
In his welcome address, the Chief Executive Officer of Wellmann Group, Mr. Chris Iyovwaye explained that the benefitting employees had worked devotedly in the establishment for over 10 years and had become stakeholders of the company.
He noted that they joined when the company was barely able to pay meagre salaries, hence deserve to receive a percentage of profit declared at the end of every financial year.
Iyovwaye commended the NCDMB for its implementation of the Nigerian Content Act, crediting the policy for the growth of the company especially in an area that was dominated by foreign players.
He further stated that “Wellmann is just one of the many success stories scattered all over Nigeria, doing well because of the implementation of the Nigerian Content Act. With determination and focus, we have grown from a company that hires equipment whenever it wanted to work, to a company owns every type of equipment whenever it goes to work.”
The CEO listed some of the company’s equipment to include self-propelled modular trailers, with capacity to lift and transport over 4000tons of structures at a single lift; modular jacking and weighing systems; offshore barges; ballast and mooring equipment and cranes.
He further attributed the success of the company to the ploughing back of resources generated from the business and expressed readiness to invest further in barging and tugboat business, which according to him was still dominated by foreign companies, thus contributing to huge capital flight.
In his comments, the Managing Director of Warri Refining and Petrochemical Company Limited (WRPC), Engr. Paul Obelley extolled NCDMB for creating a climate that has encouraged Nigerians companies to thrive.
Obelley who chaired the event stated that “no matter how much Nigeria is rich in crude oil, if our people do not get involved in the service end of the industry, we would remain poor and unable to create jobs.”
According to him, the Nigerian Content Act is a good initiative for unlocking the wealth of the economy for Nigerians.
Amid a slight increase in gas production, Nigeria’s oil output experienced a substantial rise in November 2024.
Gas production saw a 2.9% month-on-month (MoM) increase, reaching 2,292,951 million standard cubic feet (MSCF) from 2,292,471 MSCF in October.
However, on a year-on-year (YoY) basis, the growth was minimal, with a mere 0.02% increase in output for the first 11 months of 2024, compared to the same period in 2023.
READ MORE: Tinubu Mourns Ex-U.S. President Jimmy Carter, Celebrates His Legacy
The latest gas report from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) also revealed a 1.6% increase in domestic gas consumption.
A total of 606,658 MSCF was consumed locally, compared to 596,861 MSCF during the same period in 2023. Gas exports, meanwhile, rose by 6.9%, reaching 829,156 MSCF, up from 775,547 MSCF in the corresponding period of 2023.
This growth in exports continues to play a vital role in bolstering Nigeria’s foreign exchange earnings.
Despite these positive figures, sources close to the Ministry of Petroleum Resources (Gas) noted that oil remains the dominant force in Nigeria’s energy sector, with gas taking a secondary role.
On the other hand, the NUPRC’s oil production report revealed a remarkable surge.
Nigeria’s oil output, including condensates, rose by 13.3% year-on-year in November 2024, reaching 1.7 million barrels per day (bpd), up from 1.5 million bpd in November 2023. Month-on-month, oil production also increased by 10%, from 1.5 million bpd in October 2024.
Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprises (CPPE), discussed the broader structural dynamics within Nigeria’s economy, highlighting the dominance of the non-oil sector.
In his 2025 Outlook, Dr. Yusuf noted that the non-oil sector contributed 94.43% to Nigeria’s GDP in Q3 2024, while the oil sector accounted for just 5.57%.
“However, the economy is characterized by a paradox of the oil sector contributing an estimated 90% of foreign exchange earnings, while the non-oil sector accounts for about 10%,” Dr. Yusuf said.
“This is a structural shortcoming in our economy which needs to be addressed, as sectors that contribute hugely to GDP have no corresponding contribution to foreign exchange earnings.”
He further emphasized the need to address the challenges faced by the non-oil sector, which include issues related to productivity, infrastructure, funding, and regulatory constraints.
“The policy implication is that more should be done to fix the challenges of productivity and competitiveness of the non-oil sector of the economy,” Dr. Yusuf added
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced that the 125,000-barrel-per-day Warri Refining & Petrochemicals Company (WRPC) in Warri, Delta State, has become operational.
This is coming about a month after the commencement of operations at the 60,000-barrel-per-day-old Port Harcourt Refinery.
The Group Chief Executive Officer, NNPC Ltd, Mele Kyari, made the disclosure during a tour of the facility on Monday.
ALSO READ: SERAP Urges Tinubu To Direct CCB To Publish President’s, VP’s, Others Assets
A video posted by Channels TV on Monday showed Kyari addressing a tour team, which included the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed.
Before the tour commenced, Kyari explained that the inspection aimed to show Nigerians the level of work completed so far.
According to him, although the repairs on the facility are not yet 100 per cent complete, operations have commenced.
He said, “We are taking you through our plant. This plant is running. Although it is not 100 per cent complete, we are still in the process. Many people think these things are not real. They think real things are not possible in this country. We want you to see that this is real.”
Located in Ekpan, Uwvie, and Ubeji, Warri, the petrochemical plant produces 13,000 metric tonnes per annum (MTA) of polypropylene and 18,000 MTA of carbon black.
Commissioned in 1978 and managed by NNPC Ltd, the WRPC was built to supply markets in the southern and southwestern regions of Nigeria.
The mechanical completion of the facility was initially scheduled for the first quarter of 2024, according to the Spokesperson of the NNPC Ltd, Olufemi Soneye.
“Warri should be done by Q1 (first quarter) 2024,” Soneye stated.
The WRPC is one of Nigeria’s four refineries. Others include the old and new Port Harcourt Refining Company in Rivers State and the Kaduna Refining and Petrochemical Company in Kaduna State.
MRS Oil Nigeria Plc, a prominent player in the Nigerian downstream oil industry, has implemented a new petrol price of N935 per litre across all its retail service stations nationwide.
The company has also called on Nigerians to monitor and report any outlets that fail to adhere to the new price structure.
Biztellers reports that this is consequent upon an announcement by the President of Dangote Industries Limited, Aliko Dangote, that the Dangote Petroleum Refinery has partnered with MRS Oil and Gas to offer petrol at N935 per litre at retail outlets, following a reduction in the ex-depot price from N970 to N899.50 per litre.
ALSO READ: Dangote Slashes PMS Price To N899.50k
It was gathered that MRS Oil Nigeria Plc has instructed all its outlets to implement the new price immediately, setting up a digital platform and monitoring team to ensure full compliance.
In a statement on Monday night, the company declared, “Petrol is now being sold at N935 at MRS Filling Stations nationwide. If you find any station not following this price, please report it. Call 08009447853 or email: NG-FMKPMGWHISTLEBLOWING@NG.KPMG.COM”
Emphasising the eco-friendly nature of its products, MRS Oil added, “We call on all petrol station owners to join MRS Oil Nigeria Plc in improving the supply chain of our beloved country, ensuring product quality and availability in every corner of Nigeria for the benefit of all Nigerians.”
In Lagos, commuters were seen queuing at MRS filling stations to purchase petrol, with many expressing their gratitude to the Dangote Petroleum Refinery and MRS Oil and Gas, urging other marketers to support the indigenous refinery rather than import off-spec products into the country.
A commuter at the MRS station at Alapere on the Lagos Ibadan Express way, Ibukun Phillips, could not hide her joy as her husband filled up their car.
“I am very happy today. This is a victory for Nigeria,” she said. “The price reduction is the best gift of the season. But beyond just the reduction, we are buying standard, eco-friendly petrol at a lower rate. My husband and I have decided we will only be using MRS from now on because we are confident in the quality of the product and supporting the economy.”
A commercial bus driver, Adio Ajibade described the price reduction as a great relief, especially during the festive season.
“The reduction is a great relief. It will reduce transportation costs and benefit Nigerians. God will continue to bless Alhaji Aliko Dangote,” he said.
A public affairs analyst and university lecturer, Dr. Tunde Akanni, said the collaboration between Dangote Petroleum Refinery and MRS Oil represents a significant step towards improving the affordability, quality, and sustainability of petroleum products in Nigeria.
According to Dr. Akanni, “this move will not only help ease the financial burden on Nigerians but also promote a more environmentally conscious approach to fuel consumption, benefitting both the economy and public health in the long term.”
2Baba Disowns Divorce Announcement, Says Account Was Hacked
Shock As 2Baba Announces Separation From Wife, Annie Idibia
AC Milan Pull Off Thrilling Injury-Time Comeback To Beat Parma 3-2
Kano Businessman’s Daughter Kidnapped After ₦8m Ransom Payment
Colombia Blocks US Deportation Flights Over Migrant Treatment
Buhari Calls For Transparency Ahead Of Katsina LG Elections
OSSG Raises Alarm Over Murder Plot By APC Chieftain
NCC, SMEDAN, NAICOM, SEC, Others Set for SUPERNEWS SMEs Conf June 13
Sahara’s Tonye Cole resigns from GPHCDA
Niger Delta Avengers: President Buhari Reads riot Act …considers the carrot and stick option
Oando opens ultra-modern petrol station in Lagos
