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NCDMB commits to 70 per cent local content

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The Nigerian Content Development and Monitoring Board (NCDMB) has reiterated its commitment to achieving its target of 70 per cent.

This is as the board vows to ensure full implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010.

The executive secretary of the Board, Mr Simbi Wabote, said this at the 2023 Nigeria Oil and Gas (NOG) Energy Week yesterday in Abuja.

The NCDMB has already successfully grown local content implementation in Nigeria’s oil and gas sector from 26 per cent in 2017 to an impressive 54 per cent in 2002.

Speaking at the NOG Energy Week, which started yesterday with the theme: “Nigerian Content Role in Achieving Energy Security,” Wabote said the implementation of the Act would help to drive development and utilisation of in-country capacities.

Wabote said that in the last five years when NCDMB started implementing the Strategic Roadmap, and promised to deliver on his mandate in reaching the target of developing the capacity of the local supply chain for effective and efficient service delivery to the oil and gas industry without compromising standards.

He also encouraged oil and gas industry players to familiarise themselves with the Nigerian Oil and Gas Industry Content Development Act (NOGIC Act) as well as the Nigerian Content Regulations.

He said the NOG conference would continue to serve as an excellent platform to provide clarity, expositions, tips, and guidance to industry practitioners on the provisions of the NOGICD Act (2010).

He said it aimed to provide ministerial regulations, guidelines, tools and initiatives such as the Nigerian Content Equipment Certificate (NCEC), the Nigerian Content Intervention Funds (NCIFund) and Expatriate Quota, among others.

”We believe this will provide a good basis to facilitate the understanding of one of the key enactments guiding the oil and gas industry in Nigeria.

”We have selected three processes and initiatives for a deep dive during the panel sessions which are the NCEC, the NCIFund, and the HCD Guidelines.

”We aim to provide you with the information needed on these selected topics, get feedback on faced challenges, and provide guidance on steps to resolve the challenges free of charge,” he said.

The executive secretary also dwelt on the functions of the Board as stipulated in Section 70 of the NOGICD Act.

This, he said, would serve as a refresher for some of the participants while also providing clarity on misconceptions about some of the board’s interventions.

Wabote said the board had embarked on several initiatives to assist local contractors and Nigeria companies to develop their capabilities and capacity.

”This will ensure further attainment of the goal of developing Nigerian content in the oil and gas industry.

”The board have been able to implement all these projects because of prudent management,” he said

Giving a background of the, NOG Energy Week, executive vice president, Upstream, NNPCL, Adokiye Tombomieye, said the conference is a gathering of Nigeria’s foremost international energy stakeholders.

He said the gathering draws together policymakers, regulators, and leaders from the private sector to discuss Nigeria’s vital energy agenda.

According to him, the NOG Energy Week has attracted over 100,000 attendees from over 75 countries and over 50 national and international oil companies, in addition to hosting a world-class conference with over 1000 speakers, over 23,000 delegates, and 345 sessions, since inception in 2000.

Edo, UNDP train procurement officials

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The Edo State Government through State’s Public Procurement Agency (EDPPA) has trained over 80 procurement officials in the state on open contracting and accountability in procurement procedures.

The three-day training was organized in partnership with the United Nations Development Programme (UNDP), Open Contracting Partnership (OCP) and Accountability Lab Nigeria (ALN).

The programme, held at the Government House in Benin City, had participants across various Ministries, Departments and Agencies (MDAs) who were trained on the State’s open contracting data standard portal.

Speaking at the event, the Managing Director/Chief Executive Officer of EDPPA, Henry Imogiemhe Idogun, said the training programme is aimed at bolstering the government’s efforts at leveraging technology to improve the procurement process in the State.

He said, “E-procurement is technologically driven and we are expanding. The data that comes from procurement helps in transparency as it will enable the people to know what is truly going on in the procurement processes.

“We are building a platform where data will be made available for those that need it, including CSOs and Non-Governmental Organisations as well as citizens who want to know who is getting what contract and how much such contract is worth.”

“We have rebuilt the portal and want to retrain our officers across various MDAs attending the training on the use of the portal.

“Participants are all from Edo State. As procurement officers working in various ministries and MDAs, they will be the ones using the technology. They will be better equipped to do their job and will become more efficient and able to add value to the governance architecture of the State.”

He continued: “The visionary leadership of Governor Godwin Obaseki has put the Edo State Public Procurement Agency in the limelight of the world as States and Countries have come to understudy the agency’s effectiveness on procurement matters. The transformation in the procurement process in the State is for the Edo of the future, doing what will last beyond him, laying the technology of the future.

“Procurement requires the buy-in of everybody to enable the process smoothly. We have development partners supporting us further to enable us to get better.

“Corruption is a big problem of the society not in procurement alone as the society is not helping issues. Corruption is a societal problem, and technology is one way of fighting it.”

On his part, the Country Director, Accountability Lab Nigeria, Friday Odeh said, “At the end of this training programme, particularly for procurement officers, we want to see procurement officers ensuring public access to information around procurement processes in the State.”

AIICO Insurance incorporates more talent into workforce

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AIICO Insurance Plc has incorporated 30 exceptional graduates from its Graduate Trainee Programme, into its workforce.

This follows the completion of its Graduate Trainee Programme for the year 2023 edition. The rigorous recruitment process, spanning various higher institutions of learning across the nation, has yielded remarkable results, with the newest additions to the company’s workforce.

The AIICO Graduate Trainee Programme is designed to identify and nurture talented individuals, providing them with a unique opportunity to kick-start their careers in the insurance industry.

The programme aims to equip graduates with the necessary skills, knowledge, and experience to thrive in a dynamic and challenging business environment.

Over the course of the selection process, AIICO Insurance Plc attracted numerous applications from graduates representing diverse academic backgrounds and disciplines. The selection committee employed a comprehensive evaluation procedure, carefully assessing candidates based on their academic achievements, interpersonal skills, leadership potential, and alignment with the company’s core values.

Out of the highly competitive pool of applicants, the company disclosed that 30 exceptional graduates emerged as the top candidates, exhibiting outstanding potential and a strong drive for success.

These graduates, the firm said, have successfully completed the comprehensive training programme, which encompassed intensive classroom sessions, hands-on training, mentorship, and practical exposure to various aspects of the insurance business and industry.

Hence, the newly recruited graduates have been seamlessly integrated into AIICO’s workforce, assuming roles in different units, departments, and divisions across the organisation, where they will play a vital role in driving the company’s growth and delivering exceptional services to its esteemed clients.

Commenting on the success of the Graduate Trainee Programme, the MD/CEO of AIICO Insurance Plc, Mr. Babatunde Fajemirokun, expressed his satisfaction and optimism for the future.

“We are thrilled to welcome these exceptional graduates to our organisation. Their talent and fresh perspectives will undoubtedly contribute to our ongoing success and continue to position us as a leader in the insurance industry. We remain committed to nurturing their growth and providing them with a supportive environment to excel,” he pointed out.

Commenting on the programme, the company’s chief Human Resource officer, Mr. Oluyemi Obakin, said: “the success of AIICO’s Graduate Trainee Programme not only signifies the company’s investment in nurturing young talents but also reaffirms its position as an employer of choice for graduates seeking a rewarding career in the insurance sector.”

GTBank to buy 70% of Kenya’s Fina Bank for $100 million

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October 17th, 2013

Guaranty Trust Bank Plc, Nigeria’s largest lender by market value, agreed to pay about $100 million for 70 percent of Kenya’s Fina Bank Ltd. The deal is subject to regulatory approvals in Kenya, Nigeria, Rwanda and Uganda, the GTBank said in an e-mailed statement last week.

Chief Executive Officer Segun Agbaje said in April that Guaranty Trust Bank plc, which operates in six countries outside Nigeria, was targeting East African nations for their “appreciable gross domestic product GDP, growing investments and ease of doing business.”

Fina Bank had loans of $184 million and customer deposits of $285 million at the end of March, filings show.

Profit, excluding income from discontinued operations, rose 69 percent to N87.2 billion ($541 million) in 2012 from a year earlier, GTBank said on April 2.

GTBank rose 0.2 percent to N26.42 on Friday, October 11, 2013 in Lagos. The stock has advanced 15 percent this year compared with a 25 percent gain for the 10-member Nigerian Stock Exchange Banking Index.

GTBank named “2013 Africa’s Best Bank”

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June 3rd, 2013

Nigeria’s Guaranty Trust Bank has been named the 2013 Bank of the Year at this year’s African Bankers Awards. Organised by IC Events, the awards which was held in Marrakech, Morocco during the just-ended African Development Bank’s Annual Meetings, also witnessed Nigeria’s Sanusi Lamido Sanusi taking home the Central Bank Governor of the Year prize.

South African banking group, Standard Bank won the award for Fixed Income Deal of the Year on a Ghana Seawater Desalination Project. The bank helped raise funds for the $120 million desalination water project.

Mr Nizar Baraka of Morocco was declared Minister of Finance of the Year while two bankers – Aigboje Aig-Imoukhuede, CEO of Access Bank, and Joao Figueiredo, CEO of Banco Unico, were recognised as African Bankers of the Year. Guests were treated to a star-studded cast of performances during the night. Grammy Award-winner John Legend, Senegalese singer and politician Youssou N’Dour and Senegalese-American R&B artist Akon all performed during the night.

Below are the full list of the winners:

African Bank of the Year
Guaranty Trust Bank, Nigeria

African Banker of the Year
Aigboje Aig-Imoukhuede, GMD and Chief Executive, Access Bank
Joao Figueiredo, CEO and Chairman, Unico Bank

Best Bank in North Africa
Attijariwafa Bank, Morocco

Best Bank in Southern Africa
Afrasia Bank, Mauritius

Best Bank in West Africa
FirstBank Nigeria

Best Bank in East Africa
Equity Bank, Kenya

Best Bank in Central Africa
BGFI, Gabon

Central Bank Governor of the Year
Sanusi Lanido Sanusi, Nigeria

Finance Minister of the Year
Nizar Baraka, Morocco

Lifetime Achievement Award
Jean-Louis Ekra, President, Afreximbank

African Banker Icon
Michael Joseph, former CEO Safaricom and founder of M-Pesa

Investment Bank of the Year
Rand Merchant Bank, South Africa

Award for Innovation in Banking
Ecobank Transnational, Togo

Socially Responsible Bank of the Year
Nedbank, South Africa

Award for Financial Inclusion
Africa Guarantee Fund, Kenya

Fixed Income Deal of the Year
Ghana Seawater Desalination Project – Standard Bank, South Africa

Deal of the Year
Umeme IPO – cfc Stanbic (Kenya) and Fieldstone (South Africa)

Private Equity Fund of the Year
Citadel Capital, Egypt

Best Retail Bank in Africa
Groupe Banque Centrale Populaire, Morocco

Best Islamic Finance Initiative
Gulf African Bank, Kenya

Mortgage Bank of the Year
THUIF, South Africa

Brokerage House of the Year
African Alliance, Kenya

Made in Africa Foundation Special Recognition Award
Donald Kaberuka, President, African Development Bank Group