By Atting Edu
On Tuesday July 10, 2018 at the luxurious Fraser Suites in Abuja, the crème de la crème of the Oil & Gas sector in Nigeria and international community were introduced to the newest revolution and redefinition of energy media reportage in Nigeria, with the launch of the Valuechain Oil & Gas magazine.
The Valuechain magazine was conceived as a veritable platform to intimate the public, especially those in the Oil and Gas business, about happenings in the sub-sector in Nigeria, Africa and the rest of the world. The magazine started to be published monthly in print, in addition to online news version that reports instant events in the Oil and Gas industry as they unfold.
Explaining the motivation behind the magazine, its Publisher/Editor-In-Chief Mallam Musa Bashir Usman said the journey to the realization of the historic publication began two years before, following the observation that the reportage of the Oil and Gas industry needed to be redefined by inspiring the leadership of the industry to embrace modern managerial and strategic approach that will guarantee transparency, accountability and profitability by providing them with analytical reports of trends in the sector.
According to him, the main objective behind the publication was to contribute to the growth of a vibrant Oil and Gas sector that could compete favorably with its peers all over the world in terms of investment opportunities, ease of doing business, human capital development, and mainstreaming of environmental preservation in all of its business models.
“Part of our mission is to uncover and present to the public, especially the local investors, all the opportunities that are abundantly available across the petroleum Value Chain, particularly those that still remain untapped after almost about six decades of petroleum exploration and production in Nigeria,” he said at the time.
The launch of the magazine, coincided with the début of the Valuechain Public Lecture, as it was called at the time. The Public lecture was intended as a platform for the local and international energy industry to meet with Nigerian oil and gas decision makers and players to hear policy announcements, explore partnership opportunities, and discuss the strategies that will drive the nation towards energy sufficiency.
Since then, the Valuechain Public Lecture has continued to bring together government agencies, national and international oil companies, independents, investors, and service providers. The event pride itself with the potentials of offering unrivalled opportunities that drive investment and deal-making across the industry in Nigeria, thus shaping the future of the country. The event has provided a platform for Executive, Legislature and Judiciary and their agencies as well as the C-suit of the private energy sector to discuss plans for policy, upcoming projects and solutions to current challenges in the industry. The lecture annually welcomes a number of senior level delegates, speakers, companies and investors.
The maiden Public Lecture set the tone and laid the right foundation for the successes, garlands and accolades that have continued to be showered on the organizers of the event till date.
The theme of the maiden edition “Transparency: A Desired but Challenging Culture in the Nigerian Oil & Gas Sector” had as its guest speaker the former Chairman of the Economic & Financial Crimes Commission (EFCC), Malam Nuhu Ribadu who was also one time chairman of the Petroleum Revenue Special Taskforce. Dignitaries that graced the occasion included representatives of then Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, former Minister of Water Resources, Engr. Suleiman Adamu, and former Minister of FCT, Dr. Umar Moddibo Aliyu. Others were Muhammad Bulama who represented Mordecai Ladan, Director of the of defunct Department of Petroleum Resources (DPR); Dr. Ginah O. Ginah, who represented Engr Simbi Wabote, ES, NCDMB, Engr. Sadiq Abubakar of Spectrum Engineering Nigeria Limited and MD Peugeot Nig. Ltd, Mr Ibrahim Boyi, among others.
The lecture addressed the consistent allegations of fraud, dubious subsidy regimes, under-remittance of revenue to the federation’s account, as well as shady deals in oil well/crude allocations and Joint Ventures, among others, by top officials of public and private Oil & Gas companies in Nigeria in the last decade, with the view to proffering solutions to the problems.
Mallam Ribadu during the lecture pointed out that years of mismanagement in the Nigerian oil and gas sector have led to despair and misgivings amongst citizens and observers alike. Ribadu, who spoke on the lecture tagged “Transparency: A Desired but Challenging Culture in the Nigerian Oil and Gas Sector,” argued further that instead of a blessing, the oil resources in Nigeria have turned into a curse; a curse in the form of illusive culture of transparency and accountability which has characterized the Nigerian oil industry almost from inception. This lack of transparency in the oil sector, according to Ribadu, permeates all levels of the value chain, making it one of the most malignant and difficult problems to address.
“For decades the Nigerian oil and gas industry has been shrouded in secrecy. Nobody, not even decision makers are sure of the status or what is happening. Key players have turned the industry into a cult-like affair, where transparency is appalled and whatever details one will require is made absolutely difficult,” the former EFCC boss lamented.
Chairman of the occasion, Dr. Umar Modibbo Aliyu, former minister of FCT, said one of the most interesting things that confronted him during his time as Minister of Commerce and industry, was the inability to know the accurate quantity of crude oil lifted from Nigeria daily, because back then there were no accurate crude calibrations like we have today in Norway and other countries. “I hope and pray that publications like Valuechain Magazine will focus on knowing the exact quantity of crude oil lifted daily from this country”, he said.
Bulama who represented DPR shed more light surrounding the actual amount of crude extracted from Nigeria daily. According to him,“On production and export figures; as part of this government’s effort, as we speak, we have introduced what we call National Production Monitoring System in the DPR. “Today, with a click on my computer, I will tell you what Mobil, Total, Chevron, Shell etc. are all producing. So far, we’ve captured about 80% of our oil terminals and that is part of this government’s policy and we have keyed into it and we are making sure it succeeds”.
The Minister of Water Resources, Engr. Suleiman Adamu, who was the Special Guest of Honour at the event, said the theme of the public lecture was not only appropriate but timely and complementary to President Muhammadu Buhari’s vision of zero tolerance for corruption and other forms of criminal or unethical business practices, which constitute an unfortunate disservice to the nation.
2nd Valuechain lecture beams searchlight on industry gains, gaps and prospects
…launches Sickle Cell Foundation, awards
Building on the momentum from the inaugural edition of the annual lecture, the Valuechain magazine did not dash the hopes of the industry as it delivered yet another masterpiece of an event which also saw the launch the Valuechain Sickle Cell Foundation and presentation of Awards to deserving and distinguished individuals in the Oil & Gas Industry. The 2nd Public Lecture and Awards which took place on July 10, 2019 at Fraser suites, Abuja was organized to commemorate the magazine’s first year anniversary with the theme “The Nigerian Oil and Gas Industry in the Last Four Years: Achievements, Gaps and Prospects.”
The choice of the theme was informed by the need for the stakeholders in the oil and gas industry to appraise the progress recorded by the government in its first term of office. Other reasons that informed the theme was the need to address the delayed passage of the Petroleum Industry Bill (PIB), which was expected to serve as a legal framework for the effective management and regulation of the petroleum Industry.
Other issues explored during the event was the new influx of private sector investments into local refining such as Dangote refinery and the marginal fields allocation and divestment of exploration and production(E&P) assets, which implied that a major transition in oil fields discovery was apparent, from purely International Oil Companies (IOCs) to increasingly indigenous participation.
The lecture also addressed the scope of all that has been attained over the first term of President Muhammadu Buhari’s administration, and advised on the necessary steps to procure a secured economic future for Nigeria. Overall, the event provided an opportunity to appreciate the government’s achievements in the industry, beamed searchlight on existing gaps, and highlighted the abundant opportunities that should be harnessed in the sector.
Alhaji Aliko Dangote, the President, Dangote Group, as well as the Chairman, South Atlantic Petroleum, T.Y Danjuma, were among magnates honoured at the 2nd Value-chain Magazine Public Lecture and Awards.
Accolades as Valuechain 3rd Annual Lecture/Award x-rays media role in oil sector reforms
Valuechain Oil & Gas Magazine, successfully held the 3rd edition of its Annual Lecture/Award on 12th October, 2020. It was the only oil and gas event that was held in person that year due to COVID-19 pandemic restrictions of gathering and movement in the country.
The public lecture which attracted VIPs in the calibre of the Honourable Minister of State for Petroleum Resources, Chief Timipre Sylva as the special guest and the Group Managing Director of the NNPC, Malam Mele Kyari as chairman of the occasion and Dr. Omar Farouk Ibrahim as the Speaker, was held under strict observance of the COVID-19 protocols.
Various other dignitaries which included, among others, Alhaji Ahmed Bobboi, Executive Secretary of then Petroleum Equalisation (Management) Fund, had ace journalist Alhaji Mahmud Jega as moderator. Justice Derefaka, Hajiya Safiya Mohammed Adamu, Alhaji Mohammed Idris and Dr. Ngozi Anyaegbunam were the discussants. The event was also attended by top government functionaries from the petroleum industry, media practitioners, public relation experts and chief executives of various oil and gas establishments.
The theme of the 3rd edition ‘The Role of Media in the Nigerian Petroleum Sector Reform and Investment’, had the Secretary-General of the African Petroleum Producers’ Organisation (APPO), Dr. Omar Farouk Ibrahim as the Guest Speaker.
The theme of the lecture was carefully chosen considering the renewed efforts by government, both executive and legislature at that time, to pass the Petroleum Industry Bill (PIB) which was conceived over two decades ago and was perhaps unable to be passed due to shortage of public awareness on the importance of the bill.
The awareness drive, which the media was supposed to spearhead, was the ultimate objective the lecture sought to bring to limelight considering the fact that the PIB had at that time been submitted to the National Assembly by President Muhammadu Buhari.
Notable Nigerians that were honoured with Award of Excellence for their contributions to the development of the oil and gas industry in Nigeria were: the Minister of State for Petroleum Resources, His Excellency Chief Timipre Sylva, the Group Chief Executive officer (GCEO) of Oilserv Group, Engr. Emeka Okwuosa, former Group Executive Director, NNPC Alh. Aminu Baba-Kusa, and the Managing Director of Spectrum Engineering, Engr. (Dr) Abubakar Isa.
Some of the accolades received following the successful conclusion of the event read thus: “It’s unbelievable what your media organisation has been able to achieve in just 3 years. I always believe that it is not how long, but how well. Valuechain Magazine has proved me right. Kudos and Congratulations – Babalola Falobi“
“Congratulations Valuechain Magazine!..Well done…May all your great efforts be crowned with success… – Ere Iyalla
“Forward ever backward never. Congratulations Valuechain for your successful value-added event – Abdulmumini Farouk“
Valuechain 4th Annual Lecture & Awards seeks greater synergy between Oil & Gas, Maritime Sectors
Continuing in its tradition of adding value and making meaningful impact to the industry and Nigerian economy, the 4th edition of the Valuechain Annual Lecture and Awards which held on July 12, 2021 at Fraser Suites, Abuja, as those before, provided a formidable platform where agenda of national interest are set for energy industry by bringing together the nation’s oil and gas decision makers and stakeholders to deliberate policy announcements, explore partnership opportunities and discuss the strategies that will drive the nation towards energy security and sufficiency.
The theme of the year’s lecture was “Enhancing Effective Synergy between Oil & Gas and Maritime sectors for a greater value creation.”
The event brought together eminent practitioners in the oil and gas industry, the maritime sector, as well as other stakeholders in the larger Nigerian economy. The Special Guest of Honour for the event, His Excellency, the Vice President, Federal Republic of Nigeria, Prof. Yemi Osinbajo (SAN, GCON), was represented by the Minister of State, Petroleum Resources, Chief Timipre Sylva.
The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr. Mohammad Barkindo (now late); Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Mele Kolo Kyari (represented); and the Director General, Nigerian Maritime Administration & Safety Agency (NIMASA), Dr. Bashir Y. Jamoh, were among top industry leaders that graced the occasion.
The theme of the lecture was carefully chosen considering the fact that the oil & gas and maritime sectors have for decades been of strategic importance to the economic stability of the country. The then Director of the Department of Petroleum Resources, Engr. Sarki Auwalu was the Speaker that did justice to the paper at the event. The importance of the Nigerian maritime sector is attested to by its value in the upstream sector of the oil and gas industry.
Stakeholders at the event affirmed that the benefits of strengthening the synergy among players in the sectors were enormous and important, given the various emerging challenges facing the sectors.
The landmark event, according to participants, came at a most auspicious time when the government, under the leadership of President Muhammadu Buhari, had shown commitment to fortifying the Nigerian economy by enhancing functional linkages, and entrenching synergy amongst the critical sectors of the economy. The basis for this synergistic relationship, according to the players, had been laid down in policy documents and plans, including the Economic Recovery and Growth Plans (ERGP) and Nigeria Economic Sustainability Plan (NESP), in addition to the resolution of the Federal Executive Council (FEC) on the Oil and Gas Policy amongst others.
The Annual Lecture & Awards was a demonstration of the growing impact and the vital contributions of the Magazine to foster effective synergy for value creation between the oil and gas institutions, and other institutions within the economy.
The audience, made up of seasoned professionals in the oil & gas industry and maritime sector, were of the unanimous disposition that the Nigerian oil and gas sector is a value creator for the national economy, just like the maritime sector as much of what is used every day either has been or will be transported by sea, in the form of raw materials, components or finished articles.
Vice President Yemi Osinbajo, in his keynote address, urged all the stakeholders present at the event to come up with a common ground that will lead to growth in the oil and gas and maritime industry.
For his part, the GMD of NNPC, Mele Kyari, who noted that the oil and gas sector was bleeding from all types of vices, stated that it was only through collaboration with the maritime sector that those vices can be effectively tackled. According to Kyari, who was represented by the then Chief Operating Officer, Gas and Power, Engr. Yusuf Usman, there was a need to latch onto inter-industry synergy, and take advantage of it. “We have a great country, but what is missing is synergy. We should look inward and strengthen the synergy between both sectors,” he added.
While delivering the lead paper, the Director of the defunct DPR, Engr. Sarki Auwalu, noted that the two sectors’ activities were central to the national and global economy, and their strengths can be pulled together for even more opportunities.
The maritime sector can also leverage on data which DPR shares with relevant agencies of government to ensure maritime safety and economic wellbeing. Hence, whether in small or big ways, the DPR, according to Auwalu, continues to create a difference in forging effective synergy between the oil and gas and the maritime sectors.
Not only do the maritime and oil and gas industries share collaborations, they also face similar risks and threats in the foreseeable future, including geopolitical tension, cyber-attacks, crude oil price, decarbonisation, climate-change adaptation, global economic crisis, piracy/theft. However, with effective synergy and collaboration, both industries can surmount these challenges and turn them to opportunities for common good and the health of the national economy.
Speaking on synergy between agencies, the Director General of the Nigeria Maritime Administration and Safety (NIMASA), Dr. Bashir Jamoh, said “Well, this event is the kind of event that, from time to time, the industry needs to have, in the sense that, from time to time, you know, the responsibilities of the different sectors (are) inter-webbed. And by so doing, with that collaboration, or coordination, or cooperation, and effective communication, we will all be able to achieve what we want to achieve.”
Late OPEC Secretary General, Mohammad Sanusi Barkindo, who re-echoed how cooperation, commitment and hard work had helped to overcome some of the unparalleled upheavals in the oil market, added that the theme of the lecture and award, ‘Enhancing Effective Synergy between Oil & Gas and Maritime Sectors for Greater Value Creation’, also underscored the importance of working together, building bridges between various sectors, and implementing reforms to bring about positive changes and create value.
The OPEC scribe, in his goodwill message, which was delivered live via video conference, said the 4th Valuechain Annual Lecture & Awards was an extremely timely event, not only due to the positive changes evolving in Nigeria’s oil and gas sector, but also, given that the day – July 12, 2021 – was the 50th Anniversary of Nigeria joining OPEC. According to him, the day was a seminal moment for the country and for OPEC.
Some notable individuals and organizations were honoured with awards for their contributions to the development of the oil and gas industry in Nigeria. The award recipients were: the Hon. Minister of State for Petroleum Resources, and the Group Managing Director of NNPC who were decorated as the Champions of the Petroleum Industry Bill. The Director/CEO, DPR, Engr. Sarki Auwalu received the CEO of the Year award. Secretary-General, OPEC, H.E. Dr. Mohammad S. Barkindo received the Global Citizen of the Year Award.
For the company/organisation category: NNPC, clinched the Most Consistent Transparency-driven organisation of the year, the defunct PEF(M)B bagged the Most Innovative Organisation of the Year, NCDMB, Best Public Agency of the Year, Oilserv Limited, Most Reliable Project Handlers of the Year, AYM Shaffa Ltd (Overall Best Performing Marketing Company of the Year), Aero Contractors (Oil & Gas Friendly Airline of the Year).
The 5th edition of the annual lecture which holds today, July 25, 2022 – building on the strong impact, successes and recognition it had gained from the industry in the past four editions.