The Nation Newspaper

Tag: firm

  • Oil firm to partner host communities

    Despite many firms poor showing in image branding, Seplat Petroleum Development Company achieved results in the first phase of its brand placement and capacity developement.

    Following its listing on the London and Lagos stock exchanges, the company has said it is ready to project its brand and establish itself as a global player through corporate social investments in its host communities.

    Its Chairman, Ambrosie Orjiako, at a briefing, said: “Seplat is a Nigerian brand and we are proud of our Nigerian heritage. We are a global brand and we are listed on the London stock Exchange. In terms of branding, we have distinguished ourself from others in terms of corporate governance, constitution of our board; we have best management team you can ever have in the world; it’s a world-class team which gave us an edge against competition.”

    On the challenges facing the sector in image branding, Orjiako said the company is engaging its communities to enhance success as a socially responsible oil firm.

    He said: “The oil sector has never had it good when it comes to image branding. As a result, the way we engage our community is very strong. Our host community engagement has been at the foundation of our success from inception. We remain committed to full implementation of our ‘SEPLAT model’ of proactive community engagement in the Niger Delta and wherever we operate. An example of this is our Global Memorandum of Understanding with the host communities. We have created the platform for economic prosperity in the communities, a ‘win-win’ strategy. In addition, we are driving various other CSR programmes in our areas of operation to encourage capacity building and economic empowerment, especially among women and the youth.

    “To help empower and build strong relationships with the local communities, we have also employed various community contractors to provide oil and gas services. In all, we have strived to create a platform for economic prosperity in the communities.”

    Recently, the World Economic Forum named Seplat, a Global Growth Company. With this recognition, the firm joins a vibrant community of the world’s most dynamic, influential and high-growth companies.

    Companies are judged on their compliance with set criteria: growth, global corporate citizenship, executive leadership and impact on the competitive landscape of their region or industry.

    However, Orjiako declared Seplat will strive to maintain its leadership position in the market and remain focus in the face of competition.

    “The future of our company is very bright. We shall strive to maintain our leadership position in the indigenous E & P industry in Nigeria and our focus in following our growth strategy to seek to ensure delivery of our commitment not only to capital growth but also to remain profitable and dividend paying. We shall seek to deliver tangible rewards to all stakeholders,” he noted.

    The company has already paid a dividend of N16.50 per share for the 2013 financial year.

  • Consultancy firm to teach students

    The FUNAAB Vice Chancellor, Prof Olusola Oyewole, has urged graduates of the College of Engineering (COLENG) to use the institution’s engineering consultancy firm as a launch pad into the engineering profession.

    Speaking at the induction of the 2011/2012 and 2012/2013 graduates into the engineering profession, Oyewole, said the university would encourage engineering students to procure equipment for road rehabilitation in collaboration with the college.

    Oyewole said the university floated the consultancy firm and an engineering company to expose the students to practical-oriented teaching.  He charged the young engineers not to rest on their oars but to take the occasion as a stepping platform towards enhancing their capabilities and preparing for greater challenges.

    Delivering his lecture titled: the “Prime Time” on the occasion, the Executive Director (Engineering), Ogun-Oshun River Basin Development Authority (OORBDA), Mr Jimi Sokunle, advised the young engineers to take advantage of their youthfulness and make wise decisions as they seek to earn a living.

     

  • Firm helps with Indian admission

    Firm helps with Indian admission

    EduSoft Associates Limited has facilitated on-the-spot admissions for some Nigerians into some of the best universities in India.

    The students met with representatives of the universities at the Universities Education Expo organised by the firm in Lagos.

    Among participating schools were: Sharda University, Delhi NCR; Bapuji College of Nursing and Pharmacy; SS Institute of Medical Sciences; Krupanidhi College, Bangalore; SRM University; Sam Higginbottom Institute of Agriculture, Technology and Sciences; Acharya Bangalore B School & Institute of Health Sciences and Sri Venkateswara College of Engineering and Technology.

    Mr Varrier Devesh, Director of Training, EduSoft Associates Limited, said the expo will hold annually.

    Mr Badri Prasad, Director of Operations, added that Nigeria and India have a lot in common and closer association between the two countries could only lead to more opportunities for citizens of both countries.

    “Since the beginning of this year we have facilitated the admission of more than 400 Nigerians into the best universities in India, studying courses in the medical sciences, engineering, and humanities, among others. Nigerians studying in India find the country as a second home since the two countries are very close and share a lot in common,” he said.

  • Quality service key to our success, says firm

    The founder of Paga Mobile Payment Limited, Mr Eyitayo Oviosu,  has said quality services have made Paga a top brand in the mobile payment market.

    Speaking at the fifth anniversary of Paga,Oviosu said the mobile payment market has grown with banks also venturing into the business hence making the competition more deeper for companies which provide payment solutions for retail payment.

    He noted that despite the competition, the industry has continued to grow as all licensed mobile money firms are working towards efficient service delivery to their customers.

    “There are many companies in the mobile payment industry and I think we are all going towards same business, which is how we can deliver mobile payment to Nigerians whether in your business or individuals,” he said.

    Also, the firm’s Head of Agent Network  Sales, Jay Alabraba, noted that Paga is working hard to create awareness for users.

    “Paga is becoming a brand. For many people, we are an established brand because of the trust we have created through consistency and quality offering. This makes a product to become a brand. So, our ability to innovate and remain consistence in our transaction. So, for the fact that we want to ease payment challenges for customers, we created values that will enhance convenience for the customers. So, those key things have made us a brand … It’s about giving consistent service and high quality service. So, our unique selling point is offering convenience,” he added.

    Developed on the premise that simple and easily accessible payment solutions would endear shoppers, businesses to reduce customer’s frustration of dealing with cash and other inadequate payment channels, Oviosu, however, said through innovative product offerings, a strategic agent network and sheer determination, Paga has become the market leader in the mobile payments industry in Nigeria.”

  • South African firm opens in Lagos

    A Johannesburg, South Africa-based firm, Monarch & Co. International, that specialises in investor programmes for residence and citizenship in many parts of the world, has opened in Lagos.

    Briefing reporters in Lagos, its Chief Executive Officer (CEO), James Bowling, said: “We have just opened our new office here in Lekki, Lagos, and it is our first office in the West African market. We are the biggest of our kind; we expect to do some good business here in Nigeria because we understand the West African market, including Ghana and other neighboring countries. So, what we are bringing into the market here are a couple of programmes that are relevant and best suited for this market,” Bowling said.

    Bowling said the firm started operations in 2007. He explained that the firm is coming into the market, particularly the Granada programme and the St Kitt & Nevis programme. According to him, the Granada programme is the most attractive for Nigerian investors because of its location and benefits. He pointed out, for instance, that Granada is undiscovered, full of natural beauty, investment opportunity and historical charm; a safe, secure and happy place in which to invest with virtually no crime.

    Besides, the Government of Grenada recognises that private enterprise is the driving force of any economy, and has, therefore, implemented policy that encourages new private investment into Grenada.  With this in mind, he said the Government of Grenada has legislated an opportunity for qualified individuals, by invitation, to participate in a ‘Citizenship by Investment’ programme, which is aimed at creating access to foreign direct investment (FDI). Bowling explained that as Grenada relies on tourism as its main source of foreign exchange, the government is working closely with a number of tourism, agriculture and manufacturing related businesses to create investment opportunities through the Citizenship by Investment programme.

    He said Monarch & Co. has the sole franchise for the Grenada programme in Nigeria, and that there are only 500 opportunities in the programme with a minimum investment of $525, 000 for a family of five. Some of the benefits that include citizenship of Grenada that comes with freedom to travel to more than 110 countries without the need of a visa, as Grenada is a member of the United Nations and the Commonwealth of Nations. The company, he said, has so far received 15 applications from Nigeria for the programme.

  • Firms seek govt’s intervention in deepwater lease renewal

    Firms seek govt’s intervention in deepwater lease renewal

    International Oil Companies (IOCs) have called for a review of the 20-year grace for renewing deepwater acreage leases.

    The Vice President, Nigeria-Gabon Shell Upstream International, Markus Droll, said during the presentation of a paper at the just-concluded Nigerian Oil and Gas Conference in Abuja that the review had become imperative to ensure oilfirms’ survival.

    According to operators, it takes between 10 and 15 years to develop a deepwater acreage and about 15 years to recover costs of investment; therefore, to renew deepwater lease within 20 years, as stipulated by the guidelines, is not viable as operators of such fields are yet to recoup their investments.

    Droll, called on the government to revisit lease renewal periods of deep-water assets, adding that the deep-water acreage has a shorter window compared to the period in which it is developed into a more productive usage.

    He said: ‘’We see that there are many leases that will expire in a few years’ time. Given the number of time required for developing resources and then the time required for recovering costs, the industry often needs 10-15 years or more to make confident investment decisions, especially when we are talking about green-field type of developments. I do believe that the industry’s stakeholders, including companies and regulators need to work together productively to avoid this issue stifling investments into perfectly good projects.’’

    Droll also identified other challenges facing IOCs and local operators, including oil theft, security, funding, production leases and fiscal environment. He added that despite these challenges, Shell has contributed in various ways to advance the growth of the industry.

    He said: “A difficult and growing problem is the issue of oil theft. 2013’s production was badly affected by the direct impact of thieves placing illegal oil tapping connections on oil infrastructure. In SPDC alone, we removed around 300 such connections during the year.

    “Security is a concern for many of us on a daily basis. Over the years, the industry has learned and adapted well to the threats, but it comes at a cost. It is hard to put an accurate figure on this issue, but clearly both development and then operating costs are substantially higher than in many other operating environments due to this issue.

    “On funding, our belief is that for Nigeria to fulfill its oil and gas potential, more funding is required by the industry than we have seen in recent years. We are in a high cost environment, and in order to collectively climb towards significantly higher production levels, we need to find better ways to fund development. Decline rates in the industry can be as high as 15-20 per cent, and you will appreciate to simply replace natural production decline rates requires much of the funding that is currently available.”

    On fiscal environment, he said it was important that fiscal environments are reviewed to maintain a fair investment climate for all stakeholders in the industry. “Fiscal stability and predictability are absolutely key in ensuring investors of all sizes can commit confidently, government revenues can be forecast reliably, and a capable service industry is maintained with steady workload. We cannot succeed on this; my fear is that we will not attract as much capital to Nigeria as we need,” he added.

  • Local content: Erring firms will face sanction, says Board

    Local content: Erring firms will face sanction, says Board

    The Nigerian Content Development and Monitoring Board (NCDMB) will sanction any firm that flouts the local content regulations, its Executive Secretary, Ernest Nwapa has warned.

    Nwapa said in Abuja, that those who fail to comply with the Nigerian Content Act would not go scot free.

    He said work stoppage would be applied to ensure compliance with the Act, noting that the Board had dialogued, corrected and cautioned non-compliance in the past.

    He said the NCDMB had given operators adequate opportunity to comply, and that it would ensure the the law was complied with.

    Nwapa said the operators were given enough time to adjust to meet NCDMB’s goals.

    He said the Board focuses on consolidating its Capacity Development Intervention (CDI) initiatives, and creating awareness on the Nigerian Content.

    He lamented the slow pace of development of the manufacturing capacity of indigenous players, stating that if the manufacturing capacity of the firms is not developed, all the achievements recorded under Local Content would fizzle out.

    According to Nwapa, the performance level of indigenous operators, in engineering is 90 per cent, fabrication – 60 per cent, while manufacturing is 10 per cent.

    “If the manufacturing capacity of the indigenous players is not raised, we will not get the much needed growth of Nigerian content,” he said.

    He said $5 billion (N800 billion) had been invested in the development of new yards and upgrade of existing ones since the introduction of the Nigerian Content initiative, adding that the solution to growing indigenous capacity through local content lied in taking and keeping value.

    According to him, Nigeria should focus on developing indigenous capacity instead of looking for assistance, adding that the country has lost a lot of money, as a result of failure of companies to develop local capacity.

  • Firm gives 1.04m to slain worker

    Firm gives 1.04m to slain worker

    The management of Crunches Fried Chicken has given the family its late worker Mazi Christian Okoro, a cheque for N1.04m.

    Okoro was killed by robbers in December last year during an operation at their Umuahia outlet.

    Mazi Okoro, a security man on duty at Crunches Fried Chicken, Umuahia outlet lost his life during a robbery incident at the eatery on December 23, last year, leaving behind children and other relations.

    Speaking while handing over the cheque to Kelechi and Nnenna two of the deceased’s children, the managing director of Crunches Fried Chicken, Mazi Jude Nwosu recalled how committed to duty Mazi Okoro was while he worked in the outlet. He revealed that his late staff, until death, was never issued with any query.

    Nwosu noted that although the amount would not bring back the dead to life, he it would go a long way in cushioning the effects of his demise on the family.

    “Your father had a very excellent inter-personal working relationship with other workers in that all through his service years, he was never issued any query for misconduct.”

    While urging Crunches Fried Chicken family and others touched by the death of the late Okoro to draw their strength from God, Mazi Nwosu prayed God to give the children and members of their immediate family the fortitude to bear the irreparable loss.

    The Human Resources Manager (HRM) of the firm, Mr. Tunde Afenokhai said Crunches Fried Chicken came up with such packages to assist relations of staff who died while on active service.

    He urged children of the deceased to be prudent in their spending in order to achieve the purpose for which the money was meant.

    Responding, Kelechi and Nnenna thanked management of the firm for the gesture which they said would assist the deceased’s immediate family to overcome some of the problems they were encountering as a result of their father’s death. They, however, promised not to be extravagant in their spending as the money would be judiciously used to achieve the purpose for which it was given.

     

  • UK firm, LAWMA collaborate on institutional capacity, recycling

    Lagos Waste Management Authority (LAWMA) and Knowledge Factory International United Kingdom (KFI) have signed a Memorandum of Understanding (MoU) to collaborate for purposes of knowledge transfer and wealth creation.

    The cooperation between the duo will aid capacity and technology deployment within the public and private sectors to establish an Africa centre of excellence on waste management, says LAWMA Managing Director, Mr. Ola Oresanya.

    He said the objective of the MoU is to establish the basis for the development of a collaborative- based knowledge transfer programme between both parties to bridge technology gaps and correct policy deficiencies in the waste management sector.

    He said the synergy will promote accelerated growth and sustainable development, promote long term trajectory of waste due to growth in population and industrialisation.

    In addition, the agreement will also facilitate international knowledge transfer and best practices through exchange visits and partnership between Nigeria’s waste management and professionals from Europe, America, Asia and other parts of Africa, he added.

    Chairman, KFI, Prof Chris Nwagboso said his organisation will act as host for capacity development programme in the country and Africa and will identify support programmes that will enhance the growth of the partnership besides organising workshops, seminars, conferences and performance improvement through knowledge transfer.

    Nwagboso also said his firm will assist LAWMA to access international funding to encourage recycling of materials, such tyres, pet bottles and bottles which are high foreign exchange earners.

    The KFI chairman said the country has been missing out in overseas grant on green technology and said with this strategic technology the country would be better for it.

    Funds, he said, would also be drawn from European Project Funding and Management Academy, United Kingdom to build capacity for LAWMA to benchmark with cities such as San Francisco, which has the best recycling facility globally and Mexico with a large population like Lagos.

    Oresanya added that these initiatives would serve as prelude to the planned Material Recovery Facility at Igando in Lagos, which will serve some West African cities such as Accra, Libreville, Freetown and parts of the country to not only create wealth but multiple opportunities for the medium and small scale enterprises (SMEs).

  • Firm celebrates 10th anniversary

    A Furniture firm Rosemary’s has celebrated its 10th anniversary at its Lekki Showroom in Lagos.

    It has as theme: 10 for 10. The firm’s management explained that during the anniversary, they would give out 10 gifts to 10 customers in 10 days, as well as hold other activities.

    Rosemary’s is a one stop shop for decor advisory, interior designing, complete and partial makeover, interior renovation and layout consulting with the use of locally made duvets and pillows, blinds, curtains.

    The management of the company said the reason behind its innovation is to give Nigerians a home to be proud. No matter how small an apartment is, it still can be given a classy look with the touch and spice of a professionals.

    Chief Executive Officer of Rosemary’s, Mrs Ezinne Ekanem, said the outfit was established in 2003 to give Nigerians value for their money. All through her grooming days, she was born to decorate.

    “I used to rearrange my father’s house every other day. It began as a joke, then a hobby. So, I had to take it serious and here I am 10 years down the line.

    “Because we are passion driven, we specialise in making homes as comfortable as it can be no matter the size of the living spaces. It’s all about simple solutions with perfect colour scheming.

    ‘’Our designs are timeless, versatile and can be used in a variety of ways as it is our belief everyone deserves to live comfortably

    ‘’Though some challenges abound in the industry such as light, good infrastructure to work on and lack of electricity, they have kept on making Nigerians home proud. ‘’