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  • Alleged $35m fraud: Wabote in EFCC custody

    Alleged $35m fraud: Wabote in EFCC custody

    The Economic and Financial Crimes Commission (EFCC) yesterday seized the traveling passport and detained a former Executive Secretary, Nigeria Content Development and Monitoring Board (NCDMB), Timber Kesiye Wabote for alleged $35 million Brass Project fraud.

    His residence in Abuja was also searched by operatives of the commission.

    For the second time in two weeks, Wabote has been detained.

    A source within the EFCC, who spoke with our correspondent, said: “Wabote appeared before the commission for further questioning and we decided to detain him in view of the evidence against him.

    “At this bend, it has also become necessary to seize his passport and other travelling documents pending the conclusion of investigations.

    “Our operatives also searched his residence in line with Standard Operating Procedure.”

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    Responding to a question, the source added: “When Waribote came for preliminary questioning, we accorded him enough respect. But he went to town with different stories.

    “We will lay all the findings before the public for them to know how the fraud was committed. We don’t engage in braggadocio.”

    Wabote was picked up following the arrest of the Managing Director of Atlantic International Refinery and Petrochemical Limited, Mr. Akintoye Adeoye Akindele for alleged misappropriation, money laundering and diversion of $35 million public funds.

    According to investigation by the commission, Akindele, who was the promoter of the Energy Infrastructure Park financed by the NCDMB in Okpoama Community in Brass Local Government Area of Bayelsa State, initially mooted the idea of the project to the Board.

    It was gathered that the NCDMB embraced it with a counterpart funding to the tune of $35 million.

    Wabote was the Executive Secretary of NCDMB at that time.

    He was the Executive Secretary of NCDMB between 2016 and 2023.

    A brief on the investigation reads: “NCDMB under the watch of Wabote allegedly paid the $35 million to Akindele to build a 2000 barrel per day (BPD), Refinery, Jetty, Gas Plant, Power Plant, Data Centre and Tank Farm at Brass Free Trade Zone (FTZ), Okpoama Community in Brass LGA of Bayelsa State.

    “Since December 2020 when the payments were made, Akindele allegedly abandoned the project with little or nothing to show for the huge sum paid to him. “

    “Preliminary investigations showed that Wabote’s NCDMB  financed 17 different projects, including 2000 barrel per day, BPD, Refinery, Jetty, Gas Plant, Power Plant, Data Centre and Tank Farm at Brass Free Trade Zone,  FTZ, Okpoama Community in Brass LGA of Bayelsa State.”

  • Wabote explains issues on $35m refinery deal

    Wabote explains issues on $35m refinery deal

    • I wasn’t arrested by EFCC, says ex-NCDMB’s helmsman

    Immediate past Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB, Simbi Kesiye Wabote, has refuted report of his arrest by the Economic and Financial Crimes Commission (EFCC).

    The EFCC reportedly arrested Wabote on Tuesday over a $35 million energy infrastructure park conceptualised by Atlantic International Refinery and Petrochemical Limited in Okpoama community in Brass Local Government Area of Bayelsa State.

    In a statement yesterday in Abuja, Wabote denied his arrest.

    He said: “I was supposed to go there on October 29, but I wrote to them to say that I would be travelling out of the country and I would come when I return. Yesterday (Tuesday), I walked in and they took my statement and I came home and slept.”

    Wabote explained that there was no fraud case involving Atlantic International Refinery and Petrochemical Limited.

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    The ex-Executive Secretary explained the matter is the case of a company that is having cash flow challenges. 

    He also debunked the allegation that NCDMB under his watch made a bad investment in Atlantic International Refinery and Petrochemical Limited.

    Wabote said: “We invested in about 17 different opportunities and most of them are progressing. The only one that has a challenge is the Atlantic Refinery. The promoter has not walked away from the project. He has written to the NCDMB, telling the Board to give him a plan so he can buy them out. Even in the Board meeting, they have taken a resolution.

    “He said he has a cash flow challenge and he will complete the project. ‘But if you are not prepared to come along with me, agree with me a plan so that I can buy you out.’ So, it is just a business that has a challenge. It has nothing to do with fraud and nothing to do with scam.”

    He expressed disappointment in the media for fabricating falsehood to destroy his reputation.

  • NCDMB’s roadmap yielding results, says Wabote

    The Nigerian Content Development and Monitoring Board has set a 10-year roadmap for the development of local content, indigenous capacity and skills. Its Executive Secretary, Simbi Wabote, unveiled the plan, saying the body will liaise with the National Assembly in its quest to amend the board’s Act, reports Assistant Editor (Energy) EMEKA UGWUANYI.

    The Nigerian Content Development and Monitoring Board (NCDMB) has put fundamentals in place for the attainment of its 10-year roadmap, which will enable the nation to start reaping the full benefits of its oil and gas resources, with clear linkage to other sectors of the economy.

    Its Executive Secretary,  Simbi Kesiye Wabote, who stated this in Abuja, at the third quarterly briefing organised to keep stakeholders abreast of the activities and achievements of the board, said he was impressed by the accomplishments of the board within the two and half years he has spent as the helmsman.

    He said one of the first frameworks the board put resources into was the development of the Nigerian Content 10-year strategic roadmap, adding that roadmap documents the short, medium and long-term targets aimed at increasing Nigerian Content performance from 28 per cent to 70 per cent by 2027.

    He said: “The key rewards from the implementation of the 10-year roadmap are the creation of 300,000 jobs from industry activities and the retention of US$14billion in-country out of the US$20billionspent annually in Nigeria’s oil and gas industry.

    “The 10-year-roadmap has five pillars. They are Technical Capability Development, Compliance and Enforcement, Enabling Business Environment, Organisation Capability and Sectoral and Regional Market Linkage. It has four enablers, namely Funding, Regulatory Environment, Collaboration and Stakeholders Engagement and Research and Development.”

    On the Technical Capability pillar, Wabote said the board has “moved the Nigerian Oil and Gas Park Scheme (NOGAPS) from mere plans on paper to actual construction in two pilot locations – Odukpani in Cross River and Emeyal 1 in Ogbia Local Government of Bayelsa State. Each of the parks will create employment for 2000 persons when they are fully operational and will spur manufacturing of critical oil and gas equipment, tools and spare parts close to oil fields”.

    He noted that the board was spearheading the Project 100 Initiative, pointing out that the project is a Federal Government’s initiative that targets genuine firms that are committed to developing the sector’s  local capacity and capability for job creation. He said the government would assist such firms by helping them access funds locally and internationally. He said the board has identified 60 oil and gas start-ups, which are being sponsored through the deployment of special interventions for their incubation, maturation and growth into world class service companies. This intervention would include capacity building, funding and access to market, he said.

    Wabote also confirmed that the board has  started International Certification programme for 20 marine personnel, saying the cadets were already on board foreign vessels for training in 12 months, which would qualify them to be awarded the Certificate of Competence (COC), with which they can work in the Nigerian waters and overseas. The programme will address the deficit of trained cadets in the maritime and oil and gas industries and reduce the dependence on foreign personnel in  marine operations.

    He said the board’s provision of equity investment to catalyse the establishment of 5,000barrels per day modular refinery by Waltersmith Refining & Petrochemical Company Limited in Ibigwe, Imo State and in the 12,000 barrels per day Hydroskimming Modular refinery by Azikel Petroleum Limited at Obunagha, Gbarain, Bayelsa State, were as envisaged.

    ”The Waltersmith refinery is on track for completion by May 2020, while the Azikel Refinery would be completed in 2021. We expect about 300,000 litres of diesel daily in addition to various volumes of naphtha, kerosene, and fuel oil from Waltersmith, while Azikel will produce about 1.5million litres or 50 trucks of petrol daily, including 170,000litres of diesel and other products,” he added.

    Modular refinery projects have huge prospects for job creation, value retention, petroleum products availability and the development of in-country capability that fit perfectly with our vision to serve as a catalyst for the development of Nigeria’s oil and gas sector, he said.

    On the second pillar, Compliance and Enforcement, the NCDMB chief said the Board has put in place seven firms to assist in carrying out specific and specialised monitoring and compliance functions in the upstream, midstream and downstream sectors of the industry. The Board also deployed chartered accounting firms to carry out forensic audit of Nigerian Content Development Fund (NCDF) remittances.

    Wabote said the forensic audit started last November, saying the outcome has revealed huge amounts of non-remittances from operating and service companies, saying at the moment, some companies have owned up to their indebtedness and have started addressing their infractions. “A few companies have remained recalcitrant and we have concluded plans to hand over such companies to the Economic and Financial Crimes Commission (EFCC) for prosecution,” he said.

    On the pillar for Enabling Business Environment, Wabote stated that the Service Level Agreements (SLAs) NCDMB signed with the Nigeria LNG Limited, International Operating Companies under the aegis of the Oil Producers Trade Section (OPTS) and Independent Petroleum Producers Group (IPPG) have helped to shorten the NCDMB interface on the tendering cycle in the oil and gas Industry from 36 months to nine months.  “it has also enhanced broad compliance with the requirements of the Nigerian Content Act and led to significant reduction in the unit cost of oil production in Nigeria.

    “During the last review held in May this year, major operating companies, including SPDC/SNEPCo, Chevron, Total E&P and First E&P, all rated NCDMB very high on the implementation of the SLA,” he said.

    On funding, Wabote said NCDMB has disbursed US$160million out of the US$200million Nigerian Content Intervention Fund (NCI Fund) to qualified firms, as part of our efforts to provide credit for Nigerian oil and gas service firms and community contractors with single digit interest rate and one year moratorium.

    He said the board is working to promote relevant and reliable data and statistics to establish a collaborative framework with the National Bureau of Statistics. ”We intend to shortly commission specific data collection projects to counter some of the unverifiable data being bandied around our national discourse,” he said.

    He assured that the Board would collaborate  with the Ninth National Assembly to complete the amendment of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, so as to extend it to key sectors, such as Power, Construction and Information Communication Technology.

    He advised against the creation of multiple regulators of Local Content in Nigeria, noting: “NCDMB can modify its template to suit other sectors. In our view, this is the prudent way to expand and entrench local content regime in Nigeria.”

  • Local firms contravene Content Act, says Wabote

    The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has said local firms flout the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act more than international oil companies (IOCs).

    He is surprised that indigenous operators who benefited from the Act are circumventing it.

    The NCDMB chief spoke with reporters in Lagos at the weeked.

    On the forthcoming Nigerian Oil and Gas Opportunity Fair (NOGOF 2019) holding in Yenagoa, Bayelsa State capital on April 4 and 5, he said the fair had as theme ‘Maximising investments in the Nigerian oil and gas industry for the benefits of the Nigerian people.’

    On the level of compliance with the Act by the IOCs, National Oil Company and the indigenous oil companies, Wabote said, among the three, the IOCs have the highest level of compliance.

    He said: “I can categorically tell you that in terms of compliance from where I sit, the IOCs are the most compliant with the NOGIC Act to a large extent compared to the indigenous players. If there are people who flout the Act, they are the indigenous players who have benefitted from the Act.

    “When you put the measure of compliance between the IOCs and the indigenous operators, I see the clear tendency by the indigenous operators to want to circumvent the provisions of the Act, which honestly to me is an irony. People who benefitted from a process are now the ones who are actively working to see how they can circumvent the Act.

    “In terms of compliance, if you compare the international oil companies with the NOC as well as the indigenous players, the IOCs are on top of compliance because their corporate governance structure is also very strict because they also go through international scrutiny, so they try as much as possible to comply.”

    On the strategy adopted to promote compliance, Wabote said: “Our strategy has always been a pragmatic approach to implementation of the Act. We don’t read the Act like a bible. We have to compare between existing capabilities and capacities and ask; are they available at all and if they are, do they address a particular challenge? When do we build capacity up? Are we going to build them in a couple of years’ time? Don’t forget that oil and gas is the mainstay of our economy and if we don’t manage it properly, we will shut down businesses as well as  our future as a country.

    “So, we use a pragmatic approach in terms of implementing the Act itself. And we made tremendous progress compared to other sectors, be it construction or information technology. Today, every other sector wants to model its local content implementation to that of oil and gas sector which we are also actively supporting them to do.”

  • Kachikwu, Wabote, Tinubu push Nigerian agenda at Oil Week

    Minister of State, Petroleum Resources,. Dr Ibe Kachikwu, Executive Secretary, Nigerian Content Developing and Managing Board (NCDMB), Engr Simbi Wabote, and Oando PLC Group Chief Executive, Wale Tinubu were key participants at the recently concluded 25th edition of the Africa Oil Week (AOW) which took place at Cape Town International Convention Centre, South Africa.

    While Kachikwu and Wabote spoke extensively on Nigeria’s local content development approach and its overall contribution towards the African oil and gas industry, the Oando chief led several discussions during the course of the week.

    Dr. Kachikwu spoke extensively on the oil sector’s impact on the Nigeraian economy during the Ministerial Insights: National Exploration & Production Strategies’ panel. He said: “The oil sector has been a catalyst for growth in the Nigerian economy. It has also driven technology. Privately owned companies in Nigeria have gotten to a point where they can go to other African countries as investors and service providers.” The sessions covered various topics including future trends, hot spots and drilling programmes, governance, transparency and equitable growth, to future outlooks and energy transition outlook to 2050.

    Local content development was a major sub-theme at the forum. Speaking extensively during the session titled ‘The global private sector’s role in African socio-economic development, Wabote said: “Any company coming into a country to undertake business must have a positive reputation. This reputation is built on your commitment to deliver on your promise and ensure you are there for the survival of the nation as a whole. Local content is not CSR. For me it is an existential imperative for any country in terms of allowing its citizens participate in the oil and gas sector in particular.”

    The NCDMB has taken giant strides since the commencement of its 10-year strategic plan to increase local content in the oil and gas industry from the current 28 per cent to 70 per cent by 2027.

    In addition to being a platinum sponsor, delegates from the Oando provided the Nigerian business perspective on various panels. Speaking on an economic outlook panel titled: “Can Africa’s Upstream Play a Significant Role in the Context of the Global and Regional Energy Landscape.”

    Tinubu said: “We have been substantially supported by the Government’s local content policies which have effectively enabled indigenous players step in and play a significant role in the sector. In Nigeria today, out of the 2 million barrels of oil being produced, 400,000 can be attributed to indigenous production.”

    Alongside Tinubu on this panel,                         were Jens Frølich Holte, State Secretary, Ministry of Foreign Affairs, Norway; David Hicks, Senior Vice President: Upstream, IHS Markit; Jasper Peijs, Exploration Vice President, BP; Mounir Bouaziz, VP Commercial/New Business Development South America & Africa, Country Chair Dubai & Northern Emirates, Shell and Paul McDade, CEO, Tullow Oil.

    Also speaking on Private Sector: Creating Equitable Frameworks and High Quality Local Supply Chains, the Chief Operating Officer, Oando Energy Resources, Dr. Alex Irune said: “The indigenous private sector has an important role to play in taking the knowledge and value gotten from collaborating with the IOCs and other sector players in the country, transferring that down the value chain to build efficient and effective supply chains that are able to retain value in country.”

    Oando’s participation at the conference further reinforces its position as the preferred indigenous oil and gas company in the country. The company has truly carved a niche for itself as an independent indigenous oil and gas company flying the Nigerian flag at global events that shape the future of the sector and the world in general. Events such as the World Economic Forum (WEF) in Davos, CERA in Houston, Oil Council, Africa Assembly, Africa CEO Forum, OPEC International Seminar, to name but a few.  At these events, Oando has engaged in open and transparent dialogue with a broad range of stakeholders to analyze and proffer solutions to global issues.

  • Quality education key to industry devt, say Wabote, Ezekwesili

    The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote and former Education Minister, Dr. Obiageli Ezekwesili, have harped on the importance of quality education in capacity and national development.

    They spoke at the Oil and Gas Trainers Association’s (OGTAN’s) first National Education Summit in Lagos.

    The NCDMB chief in his paper entitled: “Sustaining local content through quality education and training,” stressed the need to domicile the production of educational materials used at the primary, secondary and tertiary levels.

    Quoting data from the National Bureau of Statistics (NBS), he said  about five million pupils are enrolled in primary schools yearly while the total population in all the primary schools is about 24 million.

    He added: “Twenty-four million pupils mean that we should be producing at least 50 million pencils every year in our country. Imagine the number of employment generated if this is the case and the retained value if such endeavor is done in-country. We need about two million computers every year just for our secondary and university students. These are just some of the opportunities that could help booster our local content practice. There are much more from shoes to uniforms and the rest. That is the reason we have always advocated sectorial linkages to other sectors of the economy, such as Information Communication Technology (ICT), power, and construction if we truly want to deepen our local content practice.”

    He explained that there are five key parameters required for sustainable local content practice, listing some of them to include the existence of a regulatory framework to specify the roles and expectations of stakeholders in the implementation process and capacity building of local manufacturing, infrastructural development and human capacity.

    Other necessary parameters include periodic gap analysis to determine gaps that are needed to be closed in the areas of skills, facilities and infrastructure, research and development and the provision of funding and incentives to attract new investments and keep existing businesses afloat where required.

    Dwelling on the Board’s Human Capacity Development programme, the Executive Secretary said the Board had put in place “the 60-20-20 principle in which 60 percent of the Board’s and industry’s training resources and efforts would be devoted to providing young Nigerians with specialised skills they need to secure employment. Twenty percent will be geared towards improving the productivity of personnel while another 20 percent of spend will be used for training on soft skills.

    ‘’Under the new strategy, beneficiaries will be provided with qualitative skills and international certifications that will position them for employment within and outside Nigeria.”

    Delivering the keynote address, the former Minister for Education Dr. Obiageli Ezekwesili insisted that the oil and gas industry cannot make a positive contribution to the economy without focusing on human capacity development. “The take-off points of countries’ development,’’ she said, ‘’are connected to when they enhanced the capabilities of their citizens.”

    She underscored the need to accelerate the pace of implementing the Nigerian Content Act and focused on outcomes that are measurable. “We must measure performance against set targets,” she said.

    Mrs Ezekwesili, who is also a former Solid Minerals minister and  World Bank Vice President, averred that the structure of the Nigerian and world economy had changed, hence education policy needed to change to reflect the new realities.

    “The policy makers must anticipate where the world is going. Education must enable us build a society where our people can compete globally. Artificial intelligence and simulation data are the big things today. The world will not wait for our oil,” she said.

    At the event, OGTAN also conferred the Local Content Development Achievement on Wabote in recognition of his achievements in less than two years in office.

    OGTAN President, Dr. Mayowa Afe, said NCDMB has exceeded its targets in Nigerian Content Act  implementation and contributed immensely to the development of youths.

    Accepting the award, the Executive Secretary praised the Board’s workers for the successes he had attained, noting that they cooperated and bought into his vision.

    He challenged the workers on hardwork and innovation, adding that there is a lot work to be done to deepen the implementation of Local Content practice.

    “How can we benefit all sectors of the economy? How can we impact the military and help them domesticate their clothing and hardware?”

    He said a lot of progress was being made in the implementation, and challenged every stakeholder to use their sphere of influence to make positive contributions to  local content development.

  • NCDMB met all 2017 targets, says Wabote

    NCDMB met all 2017 targets, says Wabote

    The Nigerian Content Development and Monitoring Board (NCDMB) accomplished all the targets set for 2017, the Executive Secretary, Simbi Wabote, has said.

    He spoke at the 2017 Practical Nigerian Content (PNC) workshop held at Uyo, Akwa Ibom State. He confirmed that both the objectives set by industry stakeholders at 2016 PNC and the ones set internally at the beginning of the year were met. “We have gone through all of them and we ticked the boxes.”

    Wabote who also clocked one year in office, recalled that he promised to drastically cut contract award cycle, with a directive in November 2016 that operating companies can assume they have received approval for any project if they did not get feedback from the Board within 15 working days.

    He asserted that this target was also met. “We have streamlined our internal processes such that NCDMB is now positioned to review contracts within 100 days, provided submitted documents are in line with the NOGICD Act. We have demonstrated this in the last one year as evidenced in the unprecedented completion time of tendering process for the Agip’s Zabazaba project.”

    Further evidence is that the board jointly developed and signed a Service Level Agreement with the NLNG – a first by any government agency. “We have written to the Oil Producers Trade Section (OPTS) to jointly draw up similar agreements to ensure NCDMB’s role in contracting process is clear and transparent in line with the Executive Order on Ease of Doing Business,” he added.

    Wabote said the board had expanded its operations to the midstream and downstream sectors of the oil and gas industry. “We are now part of NLNG business activities. We visited Dangote refineries where we agreed on steps to involve more Nigerian companies with capacities in the development of the project to meet cost and schedule timelines.

    “A compendium of ancillary businesses required to sustain operation of the refinery is under development to support the operational phase of the huge 650,000 barrels per day refinery,” he stated.

    He reiterated that the $200million Nigerian Content Intervention Fund had been launched for oil and gas service providers that are contributors to the Nigerian Content Development Fund. “The intervention fund has all-in single digit interest rate of eight percent for loans extended to Nigerian oil and gas service providers and all-in single digit interest rate of five percent for loans extended to community contractors.

    The NCDMB chief also reported that the Board signed the Research and Development Guidelines with key industry stakeholders earlier in the year. “We also held the highly successful research and development (R&D) Fair and Conference two months ago and we are building on that momentum to set up a R&D Steering Committee to guide our R&D Implementation plan. Other initiatives such as R&D Centres of Excellence, ‘Adopt a Faculty’ Programme, and others are also being progressed.”

    On sectorial linkages, he said the Board is at the forefront of advocacy for the utilization of in-country capacities beyond the oil and gas industry. “We have local capacities in manufacturing of pipelines, cables, paints, among others, that can be utilized in the construction and power sectors of the economy.

    “Our service providers are also being encouraged to venture into the construction sector to utilise their equipment and project delivery expertise.”

    Other achievements according to him include the launch of the upgraded NOGICJQS platform so that transactions such as applications for expatriate quota, Nigerian Content equipment certificates, Marine vessel categorisation and several other requests could be carried out online.

    Giving further details of the Board’s performance in the last one year, Wabote said the Nigerian Oil and Gas Parks Scheme was being progressed in five oil producing states. He stated that “one key progress we have made in the last one year is to put in place a firm arrangement for provision of 24/7 power supply to the industrial parks as they materialise. This is a core enabler for domiciliation of manufacturing in-country.”