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Tag: MD

  • How Chevron is promoting local content, by MD

    How Chevron is promoting local content, by MD

    Chevron Nigeria Limited (CNL) is boosting local capacity through human capital development and use of local materials, writes EMEKA UGWUANYI.

    As Nigeria progresses in its quest to acquire oil and gas technology and build indigenous capacity to service the oil and gas industry, International Oil Companies (IOCs) and others are expected to play an active role in the Nigerian Content Development (NCD) industry.

    One company that had imbibed the local/Nigerian content development philosophy even before the Nigerian Oil and Gas Industry Content Development (NOGICD) Act was enacted is Chevron Nigeria Limited (CNL), the operator of the Nigerian National Petroleum Corporation (NNPC)/CNL Joint Venture.

    The oil giant is at the forefront of promoting Nigeria’s ideals of economic and social development. Over the years, the company has continued to add value and partner Nigeria as it commits itself to the vision of being “the global energy company most admired for its people, partnership and performance”.

    According to the General Manager, Policy, Government and Public Affairs, Mr. Esimaje Brikinn, Chevron plays an active role in the Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce and Industry (LCCI), working with the Nigerian Content Development and Monitoring Board (NCDMB) and legislators on NCD issues.  Chevron has a four-prong approach to NCD – which is inspired by the commitment to ensuring Nigerian entrepreneurs (both at the community and state levels) acquire the right competencies and capabilities to compete for business opportunities with their contemporaries at national and international levels.

    The approach includes selection of qualified local contractors; facilitation of partnerships and alliances between indigenous companies and foreign firms; capacity building; and development of local competencies.

    CNL Chairman/Managing Director, Jeff Ewing, explained the company’s stand on Nigerian Content Development. He said: “At Chevron Nigeria Limited, we demonstrate our commitment to the socio-economic development of Nigeria by building mutually-beneficial partnerships, and supporting the policies of government on Nigerian Content Development. We have helped in building the capacities of several Nigerian businesses by allocating substantial scopes of our major capital projects to Nigerian companies. Chevron is also helping to grow the economy by contributing to the development of communities in the areas of our operation. We do all this, not just because it is required by the law, but because it is the right thing to do.”

    The various areas in which Chevron implements the NOGICD Act in Nigeria, according to him, include human capacity development, facility fabrication, construction and installations.

    Others include support for facility acquisition, facilitation of partnerships between local and foreign contractors, and provision of opportunities for local community contractors through work scope allocation in Chevron’s major capital projects in Nigeria.

    On human capacity development, Chevron trained 161 Nigerians on welding, fabrication and craft at the Nigerdock facility, Snake Island, Lagos, for its Sonam Development Project.

    Also, on the Agbami Phase 3 Development Project, Chevron sponsored four Nigerian engineers for subsea engineering training in France with the NCDMB and Technip Offshore Nigeria Limited.

    The training included two excursion to manufacturing plants in France and Norway.

    Chevron is sponsoring the training six young Nigerian engineers in subsea engineering at the FMC Technologies facility, Federal Ocean Terminal (FOT), Onne, Rivers State.

    Five Nigerian engineering graduates sponsored by CNL also completed subsea training at Marine Platforms Limited in Port Harcourt.

    One of the trainees was  employed by Marine Platforms Limited (MPL) as a marine cadet.

    CNL’s accomplishments in human capital development include the training of 14 earth science graduates under the 12-month skills acquisition programme initiated by NCDMB.

    CNL also offered scholarships to Nigerian seamen for dynamic positioning training at PEM Offshore Limited, a marine training facility with a contract worth $1 million and collaborated with NCDMB to assist over 600 community graduates to register in the Nigeria Oil and Gas Industry Content Joint Qualification System (NOGIC JQS).

    CNL also awarded a-$180,000 contract to a local consulting firm, Lonadek Nigeria Limited, to develop and pilot an industry-first capacity building initiative for drilling and completion professionals.

    On fabrication, construction and installation, Chevron facilitated the assembly by FMC Technologies of the first assembled-in-Nigeria Subsea Horizontal Xmas Tree and the fabrication in Nigeria of Agbami production manifolds for the Agbami Phase 3 Project by FMC Technologies/Aveon Offshore Nigeria Limited.

    Chevron also facilitated the safe, timely and successful installation of subsea equipment like flexible flowlines, umbilicals and jumpers on Agbami Phase 3 project by a Nigerian Contractor – Marine Platforms Limited.

    Besides, CNL facilitated the fabrication and load out of Offshore Platform Topsides and Bridge Connection for the Sonam Non-Associated Gas Well Platform (NWP) by Nigerdock Plc.; the fabrication and load-out of the Okan PRP Topsides; Bridge Fabrication of Okan PRP jacket by Globestar in partnership with Idmon Engineering and Construction Company Limited; installation of 32km 24″ Sonam to Okan NWP pipeline by West African Ventures Limited; and the coating of the pipes used for the Sonam Development Project and Escravos Export System Project (EESP) by Pipe Coaters Nigeria Limited, Ewing said.

    NCDMB Executive Secretary, Simbi Kesiye Wabote, highlighted Chevron’s NCD achievements during the recent passing out of earth science graduate-interns that were trained by Chevron.

    He said: “In terms of fabrication, Chevron has done a lot. I am sure you heard about the Sonam project, which was done in Nigeria. A lot of the fabrication happened here, a lot of the engineers that were on that project are Nigerians. You also hear about the pipeline project Chevron is executing – the contractors are Nigerians and most of the vessels that are deployed for that project are owned by Nigerians. So, I think human capacity development-wise they (CNL) have done a lot on fabrication as well as logistic services and trickling that down to community participation in their operations.

    “They (CNL) have a very robust system, which I think the rest of industry should try to emulate, the Global Memorandum of Understanding (GMoU) process. That has been a game changer in the community/IOC relationship.They started it and I am sure other companies like Shell, Agip and others have also latched on to the GMoU. So, the contribution has been phenomenal and I think we can break that down even into value that is domiciled in-country in terms of amount of money that is spent on projects and number of Nigerian contractors that have benefited from Chevron’s operations. I think the testimony is endless I must say. So, I think that Chevron is, perhaps, a shining star among a lot.”

    Brikinn further noted that Chevron’s commitment to local content development did not start a long time ago. The Agbami project set industry standards by fabricating over 10,000 tonnes of steel with indigenous fabrication companies, the highest ever recorded in Nigeria.

    Chevron also trained 105 Nigerian engineers from 21 engineering companies in South Korea. The Escravos Gas Project (EGP) has employed over 1,800 Nigerians and sourced millions of dollars’ worth of services (engineering, procurement, fabrication, marine, among others) locally.

    Also, the Escravos Gas-to-Liquids (EGTL) project provided employment to more than 15,000 Nigerians during the construction phase of the project. In addition, the project awarded huge sub-contracts to local community contractors, sent 234 Nigerians on a 30-month training program in South Africa at the Synthetic Fuel Facilities of Sasol and trained over 7,000 Nigerians in technical skill crafts, plant operation and maintenance, business and project management, logistics and supply chain management and Gas Tungsten Arc Welding (GTAW) processes.

    CNL demonstrated unprecedented support for the local barite mining industry by donating barite mining equipment worth $1.4 million and training to the Association of Miners and Producers of Barite (AMAPOB) to boost the supply and quality of local barite, reduce importation of barite and create jobs for the local communities, Brikinn added.

    He said Chevron will continue to be committed to the NOGICD Act, as part of our support for local capacity building.

    Ewing affirmed this when he said: “We will continue to empower Nigerian service providers and suppliers through: human and business capacity development, local patronage and work scope allocation, fostering of business partnerships and sponsorship of research and development programmes to enhance the capacity of indigenous companies to participate in the oil and gas industry.”

  • Egbin repairs upgrade cost $400m, says MD

    • Begins 1500Mw expansion plan

    The management of Egbin Power Plc has said the owners of the largest Nigerian power plant, Sahara Group, have invested $400 million in the plant since they took over the company in November, 2013 to date.

    Egbin Managing Director/ Chief Executive Officer, Dallas Peavey, stated this during his presentation on the activities of the company to a delegation of the United States congressmen led by Senator Chris Coons of Delaware and accompanied by the U.S. Ambassador to Nigeria, Stuart Symington, to the power plant at Ijede, Lagos.

    Peavey said: “At the time of takeover of Egbin Power, the power plant was operating at less than 30 per cent capacity and Unit-06 had not been operational for over 10 years. Despite the extensive regulatory challenges, KERL have successfully moved the plant to original generation levels and operate the assets based upon international standard position, investing substantially, over $400 million, in the plant since take over. The Egbin Power Plant is now operating at over 88 per cent with Unit-06 returned to full original operational service.

    “Prior to the privatization of the plant in November 2013, Egbin averaged generation of below 240 megawatts per hour due to the dismal operational state of its six units. At its lowest point, only two of the six units were partially operational.

    “The Power plant was saddled with an excess of over 1000 employees with an alarming number of aging experienced workforce approaching retirement.  The Administrative Building was in a deplorable state, un-safe and a very bad occupational environment which made it difficult to work in for the employees.”

    He also stated that the management wants to increase the capacity of the plant by 1500mw by 2020. Currently, Egbin’s capacity is 1320Mw, so on completion of the expansion, the total capacity of the plant will be 2820Mw.

    “Everything is now working and fully usable. We have done major changes and overhaul of facilities. We have also employed 107 engineer graduates from universities in Nigeria. We have invested heavily on Egbin. In the next month, we will be building a training facility for Egbin.

    “We have upgraded the Distributed Control System (DCS) to Units 4, 5 and 1 to the latest modern technology available. The remaining DCS unit upgrades are being performed concurrently with the remaining unit overhauls.

    “We have carried out replacements and repairs of major essential parts of the plant such as of re-tubing specific sections of the boilers, replacement of the high pressure heaters and switch gear-breaker system, among others,” he added.

    Fielding question from reporters, Director and Co-founder of Sahara Group, Mr. Tonye Cole, said: “The privatisation that happened in Nigeria is first of its kind in Africa. Everyone knows that when Nigeria succeeds, other African countries will succeed. This is the reason we have put so much efforts so that it does not fail.

    “We have had a lot of discussions with people engaged in power, and the most important thing for the power sector in Nigeria has to do with the policies, advocacy and making sure everything is in place to enhance investment growth.

    “When we took over, nobody was coming from the university to work in the power sector, so we had very aging population of engineers in the power sector and now we have to fill that gap very well. So we have been able to make the business good for the young people to come in and the only way we can do that, is to make this a success. We need to ensure that the power sector in Nigeria does not fail.”

     

  • No drums rolled out as Herbert Wigwe clocks 51

    No drums rolled out as Herbert Wigwe clocks 51

    LIKE a seasoned war captain whose brave exploits are undersold in his time but will be told and retold for generations, Herbert Wigwe does not get near enough credit for his achievements. In a sea of mediocrity which is threatening to submerge all traces of vitality in Nigeria’s business space, the MD of Access Bank remains one of the few shining lights. An epitome of humility and resolve, he is as privately unassuming as he is a trailblazer in the business world.

    While many a man perched atop the mountain of his profession would declare a day of monumental fanfare to celebrate a new age, Herbert Wigwe remains as humble as a monk, untwined by the ropes of vanity that compel many a man to make a public display of self-adulation. As he turned 51 on August 15, the dynamic young man made no song or dance of the occasion. Rather, as has become his trademark, he celebrated the day quietly in the company of a few friends and family members.

    Since he stepped into the hot seat as the CEO of Access Bank, many who treated his name with scepticism have become his big fans, won over by the rapid innovation that has transformed the bank into one of the best-run around. The introduction of Africa’s first digital banking platform, Paywithcapture 5, is just one of the many innovations that have earned Wigwe the superstar billing in the banking industry.

  • EFCC’s probe: NBET MD implicates Perm Sec

    EFCC’s probe: NBET MD implicates Perm Sec

    Worried by the ongoing probe by the Economic and Financial Crimes Commission, the Managing Director of the Nigerian Bulk Electricity Trading Plc( NBET) Dr. Marylin Amobi has raised the alarm that a Federal Permanent Secretary is putting her under pressure.

    She said the Permanent Secretary wanted her  to pay N248million to a consulting firm, in which her sister has interest, to facilitate the conclusion of Bond and Promissory Notes for the agency.

    She also said the Permanent Secretary has been trying to force her to resign based on the alleged instructions of the Acting President, Prof. Yemi Osinbajo.

    But she said she told the affected Permanent Secretary that she would not be bullied to quit office unless directed by the presidency.

    Amobi, who made the submissions in an Executive Summary sent to the presidency, asked the Acting President to urgently constitute the board of NBET.

    The Federal Executive had early in the year approved a Power Sector Recovery Plan to look for an alternative all-inclusive strategy for addressing the liquidity crisis facing the power Generating Companies( GENCOS) in the country.

    The recovery plan was designed to avert the total collapse of the electricity sector because many Distribution Companies ( DISCOS) have not been able to meet their financial obligations to GENCOS.

    Some of the liquidity sources being considered are getting a consulting firm to secure Bond and Promissory Notes; approval by the Federal Government and the Central Bank of Nigeria ( CBN) for a loan of N701billion under a “payment assurance programme; and an utilized $350million loan which has been hidden in an account.

    But the NBET boss said the affected Permanent Secretary has preference for “Power Sector Bond/ Promissory Note” through a consulting firm because of personal interest.

    She said the Permanent Secretary wanted her to pay N248million to the consulting firm to facilitate the conclusion of Bond and Promissory Notes for the electricity sector.

    She said it was difficult to comply with the directive of the Permanent Secretary because it was an unjustifiable  payment.

    The Executive Summary reads in part: “ I came under pressure yet again to do the following:

    1. Reconnect with the consulting firm to steer forward the conclusion of the Bond and Promissory Notes products for the electricity sector; and
    2. To pay a sum of N39M or N2248M to MT Consulting, as outstanding consultancy fees for what I consider as an unjustifiable payment for the work that they had done before I joined the organisation, that involved the development of the abandoned financial product.

    “When I protested to the PS about this, he engaged me by email on an allegation that the NASS was investigating a petition on a consultancy work NBET gave to an Engineer, which in his allegation was the same as the work the consulting firm had done. It is to be noted that the NASS confirmed to me a few days thereafter that they did not receive any petition as the PS had alluded.

    “At the kick off meeting that I had with the Permanent Secretary on the 19th of August  2016, I reiterated some of the concerns that I had with the Bond issuance to him.

    “ And he assured me that he understood my concerns, would support me to review the work NBET had already done on the product and make what I consider would be the best decision in the circumstance.

    “He did not tell me that he had an interest in the initiative and was the lead consultant and the face of the consulting company at the conceptualisation stages or that his sister is the MD / CEO the company. I learned that at the interrogatory session that the House Committee on Power conducted a few days after I resumed work as the MD / CEO at NBET.

    “However, the relevance of my concerns regarding the integrity of these matters soon disappeared after the National Assembly (NASS) launched an investigation into the matter in September 2016; and ruled that there was an “attempted fraud” at NBET.

    “Furthermore, they ordered that the Procurement Department that was previously under the Human Resources Department, be placed under the Office of the MD / CEO and that I penalised the staff who were culpable for the attempted fraud.”

  • New MD of Film Corporation meets filmmakers in Kano

    New MD of Film Corporation meets filmmakers in Kano

    New weeks after his auspicious meeting with filmmakers in Lagos, new Managing Director of Nigerian Film Corporation (NFC), Dr. Chidia Maduekwe has taken his conference tour to Kano, the single largest community of Nigerian filmmakers, under the umbrella of Motion Picture Practitioners Association of Nigeria (MOPPAN).

    The meeting, being the second in the series of the NFC interactions with stakeholders took place on Sunday May 7, 2017 at the Royal Tropicana Hotel in Kano, Kano State.

    Maduekwe reiterated that “the goal of the interaction was to have stakeholders’ input towards a comprehensive strategy that will be submitted to government as a roadmap for policy formulation for the Nigerian film industry.”

    The NFC boss also acquainted stakeholders with his vision on how the Nigerian film industry can contribute 10 percent to the GDP of the country within the next four years, and how the industry can also impact positively to the job creation efforts of the federal government.

    Enumerating some key challenges to the film industry, Maduekwe  noted, among other things, that an ineffective Nigerian Film Corporation law; poor content and production quality; lack of adequate and reliable data for decision making; lack of cohesion/professionalism leading to industry fragmentation; intellectual property protection and piracy; lack of film infrastructures such as studios, film villages and theatres; poor funding mechanism; and lack of professionalism/ethics are some of the issues that require urgent attention.

    He urged practitioners to proffer solutions to these problems, as they are integral to the proposed road map that will be submitted to the government for the development of the sector.

    In his remarks, newly elected president of MOPPAN, Mr. Abdullahi Maikano expressed optimism in an NFC/MOPPAN partnership, urging the agency to assist in assuaging the problem of piracy, film funding, professionalism and ethics, and training/manpower development.

    Meanwhile, Maduekwe thanked the Kano State government for supporting MOPPAN particularly for the successful election that was conducted on Saturday May 6, 2017, and partnering the Corporation to train 450 youths from across the 44 local government areas of the State, assuring that the NFC will sustain its support for the all-round development of KANNYWOOD to ensure that they contribute their own quota in the development of the Nigerian film industry.

    The interactive forum was graced by the Hon. Commissioner of Information, Kano State, Mallam Ibrahim Garuba, the Director General, Kano State Film and Video Censors Board, Mallam Ismail Na’aba and over 150 filmmakers, producers, directors, actors and marketers from the northern parts of the federation.

  • NNPC fires subsidiary’s MD, two others

    NNPC fires subsidiary’s MD, two others

    THE Managing Director of NNPC Retail Ltd, the downstream subsidiary of the Nigerian National Petroleum Corporation (NNPC), Mrs. Esther Nnamdi-Ogbue and two other senior managers lost their jobs yesterday.

    The others are: Mr. Alpha P. Mamza and Mr. Oluwa Kayode Erinoso, Executive Director (Operations) and Manager (Distribution) of the NNPC Retail Ltd.

    The trio’s retirement and the deployment of others to replace them, as announced by the NNPC management, were in line with the ongoing reforms in the Corporation.

    Mr. Adeyemi Adetunji was announced as Mrs. Nnamdi-Ogbue as Managing Director, Lawal Bello named as Executive Director (Operations), Mrs. Affiong Akpasubi, (Executive Director) and Mr. Agwandas A. Andrawus, as Manager (Distribution).

    In a statement, the NNPC said that the new appointments take immediate effect.

    Until his new assignment Adetunji was General Manager, Strategy & Planning, Gas & Power and also former General Manager, Transformation Office.

    The Group Managing Director of the Corporation, Dr. Maikanti Baru, charged the deployed managers to remain committed to their duties in line with the transformation aspirations of the Management.

    There has been a lingering scandal of missing Premium Motor Spirit (PMS) involving the Chairman of Capital Oil and Gas Limited, Mr. Ifeanyi Uba and Mrs. Nnamdi-Ogbue.

    A source told The Nation on the condition of anonymity that an investigative panel raised to investigate the former NNPC Retail Limited Managing Director in the deal recommended her for sack.

    The source alleged: “She diverted imported petrol to Capital Oil tank farm and failed to remit the proceeds to the NNPC.  The corporation has no remittance. This was one of the things they were doing that they quickly removed some of us from that unit.

    “It was when the investigation commenced that the corporation shook up its management staff and made her Executive Director, NNPC Retail. The panel that was set up to investigate her role in the deal asked NNPC to fire her.”

    Mrs. Nnamdi-Ogbue ‘retirement’ came on a day she was linked to the $43.4 million, £27,800 and N23.2million cash found by the Economic and Financial Crimes Commission (EFCC) in an apartment in House 6, Osborne Road, Ikoyi, Lagos.

    She debunked the claim through credited to her lawyer, Mr. Emeka Etiaba.

    Asked why the corporation took its action, the Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, said NNPC owes no one any explanation for its action.

    “If a company retires a staff, it does not owe you any explanation. They were retired not sacked”, he told The Nation.

  • AMCON recovers N681b from chronic debtors, says MD

    AMCON recovers N681b from chronic debtors, says MD

    The Asset Management Corporation of Nigeria (AMCON) has recovered over N681.5billion from chronic debtors in the last six years of its operation, its Managing Director, Alhaji Ahmed Kuru, said in Abuja yesterday.

    Speaking at an interactive session with Judges of the Federal High Court, Kuru said the amount was recovered from the debtors in form of cash, properties and shares.

    He stated that most of the recoveries were made possible through court-sanctioned settlements or outright judgment.

    Kuru revealed that AMCON had at least N1.7 trillion worth of assets under litigation across the country, adding that “this underscores the need for an effective resolution mechanism through the courts’’.

    AMCON has a mandate to tackle the issue of non-performing loans from the books of banks and to restructure such banks.

    It has special powers to ensure that recalcitrant debtors are unable to deploy legal technicalities to slow the pace of legal process.

    According to Kuru, the judiciary remains the most important stakeholders in the realisation of the corporation’s mandate.

    He said: “We realise that when all other resolution strategies fail, we have to resort to the courts in order to exercise our special enforcement powers.

    “We understand the crucial role of the judiciary, that is why we always look forward to opportunities like this where we can share some of our unique experiences towards ensuring that justice is done in all our cases based on a thorough understanding of the unique regime under which AMCON was established.’’

    He reassured that the agency would continue to partner with various arms of government especially the judiciary in furtherance of its mandate.

    Kuru expressed the hope that all AMCON matters brought before the courts would continue to receive the urgent attention they deserve.

    “We hope that there will be more opportunities for collaborations like this in the future,’’ he added.

    Kuru said the presentations would focus on the role of AMCON as an intervention agency of the Federal Government in rescuing banks and saving the economy from collapse.

    According to him, three topics meant to enrich the understanding of the Judges in appreciating the scope of AMCON’s mandate and its application in real life situations had been selected for discussion during the interactive session.

    The topics are: “Receivership under the AMCON Act, scope and application”; “Role of the Judiciary in effective and efficient recovery of AMCON debts and “Comprehensive appraisal of the special powers of AMCON under the AMCON Act and the AMCON practice directions”.

    In her remarks, the Administrator of the National Judicial Institute, Mrs Rosaline Bozimo, urged judicial officers to partner with AMCON, to enable it recover bad debts across the country.

    She said that such intervention was imperative because “monstrous debtors” had continued to utilise the judicial system and legal technicalities to frustrate the debt recovery efforts of AMCON.

    “I believe the fundamental concern that principally underscores AMCON’s efforts to engage My Lords on these Special Powers that constitute a paradigm shift in conventional debt recovery roadmap cannot be overemphasized.’’

     

  • MD Access Bank Ghana recognised

    MD Access Bank Ghana recognised

    Chief Executive Officer of Access Bank Ghana, Dolapo Ogundimu, has been voted the Most Reputable Ghanaian Bank CEO in a ranking poll led by South African based Reputation Management Agency, Reputation Poll and leading PR and Rating Agency, Avance Media.

    The ranking poll which featured all 34 distinguished leaders of Class 1 Banks in Ghana, had Mr. Dolapo Ogundimu emerging the Most Reputable Bank CEO with by 17 per cent of votes from the over 3000 voters who participated in the polling exercise.

    Ogundimu, who has schooled at both Harvard and Columbian Business School pioneered Guaranty Trust Bank to become one of the most successful banks in the industry before his appointment in 2012 as Managing Director of Access Bank Ghana.

    Emerging second in the poll was Ms. Patience Akyianu, MD of Barclays Bank Ghana who also earned the leading spot among the only four female bank CEOs in Ghana alongside Marufatu Abiola Bawuah of UBA Ghana who took the overall seventh position.

  • FrieslandCampina WAMCO Nigeria appoints Langat MD

    FrieslandCampina WAMCO Nigeria appoints Langat MD

    Ben Langat has been appointed Managing Director of FrieslandCampina WAMCO Nigeria PLC with effect from March 13.  He will report to Roel van Neerbos, Chief Operating Officer, Consumer Products Europe, Middle East and Africa, and he will be located in Lagos, Nigeria.

    Until June last year, Langat was the Managing Director of Nigerian Bottling Company Limited, Coca Cola Hellenic Bottling Company where he led major business transformation, route to market plan growing volumes and market share and delivered double digit growth despite economic challenges.  He further expanded the business into new categories including the successful launch of Pulpy.   He developed a strong talented team for the business over the period.

    Langat has over 24 years work experience spanning various senior management roles in Unilever Kenya, Malawi and Ghana respectively.

  • MD: NDDC owes N1.2tn

    MD: NDDC owes N1.2tn

    The Managing Director of the Niger Delta Development Commission (NDDC), Mr. Nsima Ekere, has lamented the N1.2 trillion debt burden facing the new management of the commission.

    To the MD, the over $40billion received by the region in the past 10 years was frittered away.

    He said the NDDC must now find a way around the huge debt owed by the past board while  carrying out  projects  to meet the aspirations of the people.

    “With about N1.2 trillion of the contingent liabilities on its balance sheet, NDDC needs to find ways to free funds for urgent development projects and programmes,” he said.

    On the fund that has accrued to the commission in the past, he said: ”There is little evidence to show for the sums spent.”

    Delivering a paper titled, ”Dangerous Beasts and How to Tame Them: The 4-R Strategy” at an NDDC three-day retreat held at Onne, Rivers State at the weekend, the NDDC MD urged collaboration among stakeholders to achieve sustainable development in the Niger Delta.

    He decried failure to implement the Niger Delta Master Plan, which originally required $50bn over a 15-year period, even though past management received 80percent ($40bn) of the cost.

    As part of effort to shore up fund to deliver on its mandate, Ekere said management would review over-invoiced projects, determine wrongly procured contracts and recover mobilisation from abandoned projects

    “We will also recover excess bank charges, recover outstanding IOC contributions and reschedule payment of outstanding statutory contributions of the Federal Government,” he added.

    He called for collaboration among stakeholders to achieve sustainable development in the Niger Delta, adding that the NDDC Governance and Reform Project (NGRP) will “catalyse the irreversible reform of the NDDC by enforcing compliance with rules and regulations.”

    The Senate has vowed to ensure that oil companies operating in the countries carry out their functions in strict compliance with the Nigerian constitutions, particularly as it affects development of the oil-bearing communities.

    Chairman, Senate Committee on the Niger Delta Development Commission (NDDC), Senator Peter Nwaoboshi, made the vow  in his goodwill message during the retreat.

    He said the NDDC is very important to the region, stressing that the senate would do everything within its powers to ensure that oil companies live up to their responsibilities to the commission and the people of the Niger Delts through adequate funding of NDDC.

    He said, “The Senate Committee will do everything within its power to ensure that you (oil companies) obey the laws of the Federal Republic of Nigeria.

    “If you respect the laws of the country from which you are coming from, I don’t see why you cannot obey the laws of our country.”