By

Ugo Amadi

Chevron commits $1.4m to education and health

Chevron Nigeria Limited (CNL) has invested about $1.4 million (about N280 million) as a way of ensuring radical and positive transformation of the social, educational and economic life of its host communities.

Deji Haastrup,  the General Manager, Policy, Government and Public Affairs, CNL, revealed this while speaking at the breakfast meeting of the Nigerian-South African Chamber of Commerce in Lagos

According to him the investment in education and health is core to Chevron business but not core business of Chevron.  Noting  that “We build a great nation  when those who lead are in good health and well educated’.

He said that Chevron  prioritise community development as part of its Corporate Social Responsibility (CSR).

“Beyond our direct business investments, we make select social investments in three core areas- health, education and economic development – to develop skilled workers, improve access to health care, and boost local and regional economies. We know that healthy businesses require healthy communities,” he stated.

As part of the CSR, he said more than 54,375 Nigerian students have benefitted from the national scholarship programme of the organisation worth over N2.65 billion with an average of 300 intakes yearly, adding that 9,617 undergraduates currently on the Agbami (Chevron & Deep Water Co-Venturers) Scholarship Programme.

Explicitly, Haastrup said: “In 2013/14 and 2014/15 academic sessions, 1,166 Agbami scholars graduated with first and second class upper. Other types of Special scholarship programs (including for the visually impaired and physically challenged) and GMoU worth over $1.4 million,”

Further, he said the company has embarked on Learning Centers Initiative in collaboration with the Discovery Alliance, while over 15,000 students have access to educational materials & TV channels in under resourced schools are successfully implemented in Lagos State and Delta States

These projects, according to him, have impacted on the educational system through increased school enrolment by over 50 per cent over the last three years, greater success in external examinations and competitions at states and federal levels, and improved teachers interest and capability.

Haastrup however noted that donations by Chevron and Deepwater Partners’ footprints in Nigeria between 2008 and 2014 has resulted into establishment of 24 chest clinics, 14 libraries and 24 science laboratories.

Chevron operates and holds a 40 per cent interest in nine concessions under a joint-venture arrangement with the Nigerian National Petroleum Corporation (NNPC).

The oil multinational reported its net daily production in Nigeria averaged 240,000 barrels of crude oil per day, 236 million cubic feet of natural gas and 6,000 barrels of liquefied petroleum gas in 2014.

FGBMFI Annual Business Seminar holds June 12 and 13,2015

Ugo Amadi

Lagos :Thursday: June 4,2015. With the rising challenges and opportunities of investment and running business in Nigeria today, the Full Gospel Business Men’s Fellowship International Nigeria “2015 Annual Business seminar”, is positioned to release viable strategies to meeting business needs in the today’s business environment.

In a press conference held on Thursday, 04 June, 2015 in Lagos, the  District Co-ordinator of the South West 3 district ,Mr Fola Aguda stated that this year’s Annual Business seminar is  scheduled to hold between 12th and 13th June, 2015 with a two-tier seminar structure to enable the fellowship better cater for the need of members and the general public.

According to him  the 2015 business seminar has two themes “The 21^st Century Entrepreneur: Opportunities & Challenges” for Seminar I, holding at the NECA House, Events Centre, CBD, Alausa, Ikeja to offer lower level training for start ups, and for growing micro and small businesses; and  “Business Excellence in a Deregulated Emerging Market” for Seminar II, holding at the De Renaissance Hotel, Awolowo Way, Ikeja to offer intermediate to high level training for growing medium and large businesses. Each will host a Business Exhibition and Workshop.

Aguda expressed that the seminar is an  annual empowerment programme aimed at equipping professionals to best practices in career and business; and creating a forum for learning and sharing experiences, business networking, products and services exhibitions and workshops for participants.

Aguda who is also the Managing Director of ED-Theo Consults said that the  seminar one will address the 21^st Century Entrepreneur: Opportunities & Challenges, Management Essentials for Business Growth, How to Access Funds for SME’s, Emerging Opportunities in Waste Management, Opportunities & Challenges in Small Scale Export Business and the Power to Get Wealth.

While the seminar two course content will address  thriving in a Globalized Economy ,Financing Enterprises through Risk/Equity and the Capital Market ,Investment Opportunities in the Oil & Gas Downstream Sector ,Client Management  Growth ,Opportunities in the Maritime Sector Power to Get Wealth

He said that seasoned speakers has been carefully selected to deliver this year’s seminar and they include Prof Pat Utomi of Pan African University, Dr. Uche Ogah –President of Master’s Energy Group, Lere Baale of Nertherlands Business School, Emmanuel Asiak of African Capital Alliance Group, Chidi Ilogu- SAN and Apostle Alex Bamgbola

Others include Dr. Adebola Olubanjo, Principal, Adebola Shobanjo & Co., Joko Okupe, MD/CEO Soulsite Advertising Agency, Mr. Lolu Akinwumi, Group MD, Prima Garnet Africa, Mr. Chiagozie Nwizu, SME Advisory Manager, Diamond Bank HQ, Mr. Ola Oresanya, MD, Lagos State Waste Management Agency (LAWMA), Mr. Johnson Rotimi Ajayi, MD, Agri4all Nig. Ltd  and Engr. Niyi Ogunnusi, Managing Partner, Concem Associates.

Also speaking the Chairman of the Business seminar, Eddy Eworo noted that this year’s Annual Business is designed to develop participants  attitudes, knowledge, skills ,abilities and behaviors for harnessing market potentials in the rising Africa economy.

He said that this year’s Annual Business Seminar is expected to attract more than 500 businessmen and professionals from all walks of life, and feature exhibitors.

In his own contribution Emmanuel Asiak of African Capital Alliance Group,one of the speakers to the seminar gave some highpoints of his topic, stressing that the seminar will deal with and how of getting good and proper finance for business.

He expressed that participants will go home with much practical knowledge and the necessary requirements on  Financing Enterprises through Risk/Equity and the Capital Market .

My Ayoola Badejo, the District Co-ordinator of South West 6 district   shared the vision of the fellowship as a not-for-profit organization of Business and Professional men and women from all walks of life whose main objective is to emphasize the importance of God and integrity in our lives, careers and businesses. Stressing that FGBMFI creates forum for both young and experienced business men and professionals to come together to share experiences for better business principles  The fellowship exists in over 160 countries; with over 3,500 chapters in Nigeria and 500 chapters in Lagos.

MARKETERS ARE STILL BEING OWED OVER N291Bn

…Ask FG to deregulate oil sector.

By Ugo Amadi

Aftermath of the Senate Committees' meeting with major petroleum industry stakeholders which successfully persuaded the petroleum tanker drivers, PTD-NUPENG and NARTO to call off their strike on Monday, 25th May, 2015 and resume loading of fuel from the various depots that had stock, it has become necessary to state the fact that depot owners and other fuel importers under the ‘petroleum subsidy scheme’ are still being owed billions of naira in unpaid subsidy reimbursement, interest on delayed payment and foreign exchange differentials.

This much was expressed to Depot and Petroleum Products Marketers Association: DAPPMA and the Major Oil Marketers Association of Nigeria: MOMAN by the former Minister of Finance and Coordinating Minister for the Economy, Dr. Mrs. Okonjo Iweala in her letter to both associations, a copy of which she also released to the Senate Committees for reference.

In a statement made available to Daily Champion in Lagos, the Executive Secretary , Depot and Petroleum Products Marketers Association(DAPPMA), Olufemi  Adewole  said that  the letter did not state the timeline for the re-verification exercise which the minister instituted on the amount she disputed and also did not state the expected date of payment which ‘PSF’ participants had been clamouring for in all the meetings held with the former CME/HMF since February 2015.

He  noted that this is the first time since the establishment of the petroleum subsidy fund scheme that marketers will not have ready and easy access to fuel import loans as it is also the first time that commercial banks will notify importers that based on CBN regulations, importers have attained their credit ceilings with their various banks and would have to make some refunds on the existing loans to the sector prior to being funded for petrol imports; unfortunately the expected refund to the banks is yet to be reimbursed by the Federal Government.

He stressed that due to debts owed transporters by marketers, who have been experiencing serious financial stress due to outstanding debts owed them by the Federal Government as a result of petrol imports under the petroleum subsidy scheme, the PTD-NUPENG and NARTO had at various times protested non-payment of their freight charges by withdrawing their services hence it is unfortunate for anyone to insinuate that marketers are blackmailers holding the nation to ransom via a strike about which they know nothing.

According to the statement “DAPPMA’s initial assertion on petrol importers and marketers who participate in the petrol subsidy scheme and are therefore entitled to subsidy reimbursement is based on the widely circulated payment list from the Federal Ministry of Finance, which was published in several newspapers.

 The publication detailed payees and other ‘PSF scheme’ participants even when there was no payment due to them and the name of Capital Oil and Gas Industries Limited was conspicuously missing; however further investigations have confirmed that the company is indeed being owed an undisclosed amount which however cannot be confirmed to have been added to the figure released by the former CME/HMF.

“It  would be gross injustice against participants in the ‘PSF scheme’ who actually render a social service to the nation by importing petrol at international rate and sell below cost price at the behest of the Federal Government to be accused of being saboteurs just because they asked to be refunded the difference between the landing cost of the imported petrol and the local selling price in line with the agreed conditions of participation”.Adewole stated

He expressed that depot owners and marketers, as patriotic Nigerians, had always advocated the need to remove fuel subsidy, which only benefit foreign refineries where the product consumed locally in Nigeria is being sourced.

The Stakeholders therefore calls on the  Federal Government to fully deregulate the downstream petroleum sector as the Nigerian economy cannot continue to sustain the subsidy regime. Stressing that   funds released after the removal of subsidy can be utilized for infrastructural development and job creation as addition to jobs already created by DAPPMA members