NANCY NNAJI’s Post

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Chinese investor starts operations at new refinery in Ghana

Our Nigeria based correspondent Ifeoluwa Wussu has just completed another very important story for Plan A. In this report he investigates the impact Shell's oil operations have had in Nigeria as it looks to divest its $2.4 billion onshore assets. Plagued by oil-spills exacerbated by theft and interference, the legacy the company leaves behind is estimated by the United Nations will take a staggering 30 years, and $1 billion to clean up. But who will do this? Corporate responsibility and public image appears to be important to Shell, so many Nigerian communities and leaders hope the company does more than just cut tail and run after extracting oil riches there since 1958. #nigeria #oil  #energytransition  #finance  #divest  #esg  #esgfinance #energysectorshare  #energy

🌟 Unlocking Success in Nigeria's Oil & Gas Sector: The Imperative of Local Content Development 🛢️ In the dynamic landscape of Nigeria's oil and gas industry, one strategy stands out as pivotal for sustainable growth and national development: Local Content Development. This strategic initiative not only enhances economic empowerment but also fosters technological transfer and capacity building within the country. 🔍 Why is Local Content Development Crucial? Economic Empowerment: Strengthening local businesses and creating employment opportunities. Technological Transfer: Enhancing local expertise and fostering innovation. Sustainable Development: Building a resilient energy sector for future generations. At the heart of this strategy lies collaboration — between industry leaders, government bodies, and local communities. By prioritizing local content, we not only ensure compliance with regulatory frameworks but also contribute significantly to Nigeria's socio-economic landscape. 🚀 Join me in championing this transformative strategy. Let's explore how strategic partnerships and inclusive practices can drive sustainable growth and innovation in Nigeria's oil and gas sector. 🔗 #OilandGas #Nigeria #LocalContent #EconomicEmpowerment #Innovation #Sustainability #BusinessStrategy #Leadership #EnergySector #CapacityBuilding #Collaboration 👥 I look forward to connecting with professionals passionate about shaping the future of energy in Nigeria through impactful local content initiatives. Together, let's pave the way for a prosperous and sustainable industry!

Get informed, so together, we can demand transparency and accountability in the management and use of petroleum revenues.  

Established in 1977, NNPC is the driving force behind Nigeria's energy sector. A merger of Nigerian National Oil Corporation (NNOC), with its operational functions and the Federal Ministry of Mines & Power with its regulatory responsibilities gave birth to the Nigerian National Petroleum Corporation. NNPC's exploration efforts involve identifying and tapping into valuable energy resources, ensuring a steady supply of petroleum products. In the production phase, the corporation employs state-of-the-art technologies to extract and refine these resources efficiently. The strategic marketing of these products further strengthens Nigeria's presence in the global energy market. Beyond its core functions, NNPC significantly impacts the country's socio-economic fabric. Through initiatives like local content development, job creation, and technology transfer, NNPC plays a vital role in fostering economic growth and development. Understanding NNPC's multifaceted role sheds light on the complexities of managing a national resource critical to both industry and daily life. As we navigate the intricate world of NNPC, it becomes evident that the corporation's efforts extend far beyond the confines of the oil and gas sector, shaping the broader economic landscape of Nigeria. #Sabibay #Politics #Leadership #Governance #PLG #NNPC #EnergyEducation #PetroleumIndustry #NigeriaEconomy #InnovationInEnergy

Shell leaving onshore Nigeria is bad. Period. Onshore or offshore is not what investors read, what they read is “Shell is leaving the largest oil exporter in Africa, things must be bad for investors in Nigeria” Again, it's perception not reality but perception is reality. Leave that “local players” talk, Shell or any multinational being in-country attracts others to come. This thing is all about branding, leaving national pride. That said, Shell lost a case in the Netherlands and they were asked to “reduce” their oil footprint, Nigeria's onshore divestment is their response Also, the open stealing of oil happening onshore is a big factor, that's on Nigeria Nigerians like to cope.

Shell has agreed to sell its onshore business in Nigeria's Niger Delta for $2.4 billion, aiming to reduce exposure amid environmental concerns and streamline operations. The move follows years of complaints about oil spills impacting the region. Shell plans to focus future investments in Nigeria on deepwater and integrated gas projects. Oil spills devastated extensive mangrove forests, wiping out fish and shellfish in rivers, and leaving Bille's fishing community without sustenance or income. Shell's decision to sell its onshore subsidiary comes after prolonged challenges, including oil spills from theft, sabotage, and operational issues. These incidents have led to costly repairs and legal battles, prompting the company to move forward with the anticipated sale. Shell received a poor rating for carbon management and reporting due to fossil fuel investments, misleading advertisements implying eco-friendliness, and accountability for multiple oil spills. Prioritizing customer satisfaction is crucial for building trust, loyalty, and a positive reputation, ultimately contributing to the success and sustainability of a business. You can't fool customers for a long time. Your marketing strategy should prioritize your customers otherwise you need to leave the market. In order to sustain you need to grow surrounding. It may be infrastructure, people's mindset or culture. You can't grow alone. #customerexperience #changeforthebetter #environmentalsustainability #shell #growth #market

Unrest in other countries disrupts, and the ripple of chaos in Nigeria has extended its reach to one of the largest Oil and Gas tycoons across the pond. A relationship that began in the 1930’s comes to an end this year, as Shell Petroleum Development Company of Nigeria Limited (SPDC) cuts ties with a country that has seen success sprinkled through decades riddled with theft, danger, and uncertainty. Reuters reports that the “SPDC, which remains the operator, was formed in 1979, incorporating assets of the older Shell-BP consortium, with its current partners entering at later stages.” This exit comes with a hefty payday. The reported $1.3 billion dollar sale (plus another $1.1 billion at completion) is the mark of a new beginning for the Renaissance consortium (ND Western, Aradel Energy, First E&P, Waltersmith and Petrolin.) What are your thoughts on this big move? Is Shell making the right move? Is the new consortium in for another century of unrest in Nigeria? We’d love to hear your thoughts. #industryexpert #oilandgas #shell #nigeria #landservices #spdc

NNPCL (Nigerian National Petroleum Company Limited) has struggled with bureaucratic inefficiencies, financial constraints, outdated infrastructure, and regulatory challenges, which have hampered its ability to manage and expand its refining operations effectively. These issues have led to a reliance on private sector investments, such as those from Aliko Dangote’s refinery project, to address critical gaps in refining capacity and sector efficiency. Private investments bring much-needed capital, technological advancements, and operational efficiency, helping to meet domestic refining needs and improve overall sector performance. However, this reliance on private entities also highlights the need for significant reforms within NNPCL. For sustainable growth and improved efficiency, Nigeria’s oil sector must balance public and private sector contributions while addressing the internal challenges faced by state-owned enterprises. khalifah Ahmed