The Nation Newspaper

Tag: Seplat Petroleum Development Company

  • Boy regains eyesight after battling cataract for 11 years

    An 11-year old boy, Genesis Osekose, has regained his eyesight after battling cataract from birth.

    Genesis regained his eyesight after he underwent surgery in a medical outreach sponsored by Seplat Petroleum Development Company under it’s “You can see” project.

    Parents of Genesis rolled on the floor as the bandage on Genesis eyes were removed and he counted fingers placed before him.

    Mother of Genesis, Grace, aged 41, said they noticed his problem when he was one.

    Grace said they took him to several hospitals but the amount they were asked to pay was above their income.

    “Our son started having cataract when he was one. We took him to the hospital but we could not afford the money they demanded. Whenever he is walking, he does not walk straight. The eyes were always paining him.

    “A neighbour introduced us to the Seplat programme in Warri. They operated on the eyes and he could see properly. We have been battling the ailment for the past 11 years. He is in primary four because he could not see writings on the board. He always complained that his teachers used to beat him.”

    His father Joseph said he left his job in finding solution to the ailment of Genesis.

    “They demanded N240, 000 in Bayelsa State. I left my son’s fate to the hands of God when I could not raise the money.”

    Read Also: Boy drowns in stagnant pool in Kano

    External Affairs Manager of Seplat, Chioma Nwachukwu, said the project was part of the Corporate Social Responsibility of the firm to give back to the host communities.

    Chioma said the project was meant to restore vision to indigent people and touch lives of many individuals.

    She stated that over 65,000 persons have benefitted from the project since 2012 while 3000 successful surgeries were carried out.

    Her words, “We know the important of vision to people. We have been doing this since 2012. We have recorded a lot of success just like the case of little Genesis.

    “We also do medical screening for ailment such as diabetes and hypertension after which drugs are given to beneficiaries.”

    Commissioner for Oil Gas, Joseph Ugheoke, said the Edo State Government has provided enabling environment for investment to thrive in the State.

  • Seplat Petroleum wins 2018 Pearl capital market award

    • Presco, others win laurels

    Seplat Petroleum Development Company, one of the leading indigenous oil and gas firm proved its worth and mettle amongst its peers at the weekend after emerging the 2018 overall winner of PEARL Awards capital market prize in Lagos.

    Hints that Seplat was going to be the cynosures of all eyes at the event was apparent when the company was nominated among the top three for the Sectorial Leadership Awards in the oil and gas sector alongside with 11Plc, Total Nigeria Plc. It also got nomination as one of the topflight companies for Market Excellence based on net asset ratio and turnover growth, amongst many other nominations.

    Tagged: ‘Sustaining the Winning Edge,’ the event attracted participants from the business community, including stakeholders in the nation’s financial and capital market landscape, members of the diplomatic corps and government functionaries and the media. An elated Managing Director/CEO of Seplat Petroleum, Mr Austin Avuru who received the award from the Acting Director-General of the Securities and Exchange Commission of Nigeria, Ms Mary Uduk, noted matter-of-factly that the Pearl award was a welcomed addition to the commendations and recognitions by the company by other well-meaning bodies who have been tracking their performance over the years.

    According to Seplat boss the company’s recognition at the Pearl awards and others, was a clear testimony as a testimony to the modest successes so far achieved by the company, for which he thanked the staff and management.

    Speaking earlier, the President/CEO Pearl Awards Mr. Tayo Orekoya in his opening remarks disclosed that the 2018 edition recognised and rewarded over 85 quoted companies for outstanding operational and stock performance with 18 emerging as the highest awards winners of the stock market at different times, based on verifiable facts and figures rather than elements of subjectivity.

    “Since inception and to date, we have been guided by the principles of fairness, transparency and objectivity in our selection process while our scientific approach in determining nominee companies remains unassailable,” Orekoya said.

    Orekoya who noted that the programme was gaining a lot of traction already in its over 25 years of its existence, further hinted that the organisers hope to take the event outside the shores of the country, precisely in Nairobi, Kenya come 2020.

    In her remarks, the Special Guest of honour and Acting Director General of SEC Nigeria Ms Mary Uduk commended Pearl Awards for its immense contribution to capital market development in Nigeria, through the reward of market excellence.

    The SEC boss while lauding the initiative behind recognition of the quoted companies also stressed the need for companies to be awarded for excellence in the area of driving convergence between finance and technology.

    Also giving his remarks at the event the President of the Council of the Nigeria Stock Exchange Mr Abimbola Ogunbanjo, also join others to commend PEARL Awards for its “Transparency and Integrity” in acknowledging the role of outstanding market players.

    Mr. Ogunbanjo said the Nigeria Stock Exchange was exploring a Memorandum of Understanding with Pearl Awards to enhance its work, and also strengthen the relationship that will build a vibrant capital market ecosystem.

    The high point of the event was the review of the 2018 Nigeria Stock Market Annual report by Mr Opeyemi Adesina while Senator Solomon Olamilekan Adeola of Lagos West Senatorial District, launched the report with N10million.

    Amongst the roll call of awardees also include: Mr Olutola Mobolurin former President of the Chartered Institute of Stockbrokers and Chairman NASD Plc also received the Pearl Awards special honorary award for Capital Market Development with the MD/CEO of Presco PLC Mr Felix Nwabuko winning the PEARL Awards 2018 most outstanding CEO while Channels Television receives the special award for quality capital market reporting.

    Mr. Iheanyi Nwachukwu of Financial Correspondent with Businessday won got the special honorary award for the Pearl Awards capital market journalist of the year.

  • Court adjourns contempt proceedings against Orjiako

    The Federal High Court in Lagos will on January 21, 2019, hear a contempt proceeding against Seplat Petroleum Development Company Plc chairman Dr Ambrose Orjiako.

    It was initiated by a firm, AOS Orwell Limited,  last year.

    The firm is urging the court to commit Orjiako to prison for allegedly violating a November 8, 2016 order made by Justice Hadizat Shagari, restraining him from tampering with the assets of his company, Shebah Exploration & Production Limited, pending the determination of a debt recovery suit filed against the company by AOS Orwell Limited.

    For failing to appear before the court to attend the contempt proceedings after repeated summonses, Justice Shagari, on December 4, 2017, issued a bench warrant against Orjiako, ordering that the businessman be arrested and brought before her.

    Upon Justice Shagari’s transfer from the Federal High Court in Lagos, the case was transferred to Justice Saliu Saidu.

    Tuesday’s proceedings before Justice Saidu, AOS Orwell Limited’s counsel, Mr A.O. Divine, told the court that his client was not backing down on the contempt proceedings.

    This was as Orjiako’s lawyer, Dr C.O. Ukata, said his client was more interest in the substantive suit, bordering on the alleged debt owed AOS Orwell Limited by Shebah Exploration & Production Limited.

    Ukata said his client was desirous of having the case concluded, adding that pursuing the contempt proceedings would lead to further delay.

    He noted that already his client had gone on appeal to challenge the bench warrant issued for his arrest by Justice Shagari.

    But Divine insisted that his client was not abandoning the contempt suit, saying proceeding without resolving it would render the outcome of the substantive suit nugatory.

    “Our position is that on the subject of this suit, the court has appointed a liquidator but the subject matter has been tampered with. Even if the court eventually determines this case, without the contempt proceedings, the outcome will be nugatory,” he said.

    The two parties said they had already filed their written addresses on the argument of whether or not the contempt proceedings should be dispensed with to allow for the expeditious hearing of the substantive suit.

    Justice Saidu adjourned till January 21, 2019 for the adoption of the final

  • NNPC, Seplat eye 3.4bscf/d of gas

    The Nigerian National Petroleum Corporation (NNPC) and Seplat Petroleum Development Company (SPDC) have signed  agreements to expedite the development of a project aimed at delivering about 3.4 billion standard cubic feet of gas per day by 2020.

    The project, Assa North and Ohaji South (ANOH) gas development scheme, is one of the seven Critical Gas Development Projects (7CGDP) which is aimed at boosting gas production and infrastructure development.

    Speaking at the event, NNPC Group Managing Director, Dr. Maikanti Baru, explained a special purpose vehicle (SPV) known as ANOH Gas Processing Company (AGPC) was being promoted by the two oil firms to develop, build, operate and maintain the ANOH Gas Processing Plant, with an initial capacity of 300 million standard cubic feet per day in Imo State.

    Represented by the Chief Operating Officer, Gas and Power, Engr. Saidu Mohammed, the GMD said NNPC would do everything possible to ensure that the project was successfully delivered.

  • Seplat considers dual stock listing

    Seplat Petroleum Development Company a Nigerian oil firm that bought assets in the Niger Delta from Royal Dutch Shell Plc (RDSA), is considering listing shares on two stock exchanges, its Managing Director, Augustine Avuru has said.

    He said the development will help in growing the company’s operations, and make it compete well in the industry. “A dual listing remains an option for Seplat for equity-raising, It will be wrong of us to discuss anything that is still undergoing regulatory approval,” he said.

    Seplat plans a dual listing in Lagos and London.

    According to reports, Arunma Oteh, director -general of the country’s Securities and Exchange Commission(SEC), said in an interview last month that a dual listing planned by an oil exploration and production company she didn’t identify will be “defining” and may encourage others to follow. The other exchange expected this month. The company has a track record of acquiring fields from international producers and making them viable, she said.

    The Nigerian Stock Exchange (NSEINDEX) will target 500 companies over the next five years as Africa’s second-largest bourse seeks to reach a $1 trillion market capitalisation by 2016, Oteh said. Five companies are expected to start trading their shares by year-end, she said.

    The bourse’s all-share index has gained 35 per cent this year, the third-best performer in Africa. Oando Plc (OANDO), a Nigerian oil production company listed in Lagos and Johannesburg, has dropped 11 per cent this year on both exchanges.