Showing posts with label NNPC. Show all posts
Showing posts with label NNPC. Show all posts

Tuesday, August 22, 2023

25 Under 40 Energy Women Rising Stars: Ibilola Akinnola

PRESS RELEASE
25 Under 40 Energy Women Rising Stars: Ibilola Akinnola
Ibilola Akinnola is the LNG Shipbroker at Maersk

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JOHANNESBURG, South Africa, August 22, 2023/ -- As Africa’s energy sector expands, innovative approaches to exploring, developing and distributing energy are required. Featured on Africa’s 25 Under 40 Energy Women Rising Stars list is Ibilola Akinnola, who currently serves as an LNG Shipbroker at Maersk. Akinnola spoke with the African Energy Chamber (www.EnergyChamber.org) about the industry, some of the challenges she faced and what message she has for young females aspiring to excel in the energy sector.

Please share a brief overview of your journey in the energy industry that led to your current role? What are some key achievements or milestones that you are particularly proud of?

My journey in the energy sector started as a young lawyer in Lagos, Nigeria. After finishing my undergraduate degree in the UK and returning to Nigeria for law school, my interest in corporate law shifted to oil and gas law. As Nigeria remains predominantly an exporting country, oil and gas law ultimately led me to shipping law. My interest in the energy industry was sparked by my work at ACAS-Law (now Dentons ACAS-Law) as an oil and gas solicitor and shipping barrister. Due to the global nature of the shipping business, my experience as both a maritime barrister and oil and gas solicitor involved working on transactions for notable entities such as APM Terminals and NNPC on matters ranging from an arrest of a vessel in Nigerian waters to oil field acquisitions in the Niger Delta region for regional companies such as Seplat Nigeria.

Subsequently, I decide to return to the United Kingdom to further my understanding of the industry, by embarking on a master’s degree in International Shipping Law with a focus on trade disparities in the application of international shipping conventions in developing countries vs developed countries and the goal of specializing in shipping as a commodity. My master's degree highlighted the need for energy development in developing nations, particularly in African countries. I completed my master’s degree in 2020 and began working as an energy trainee for Energias de Portugal (EDP), a Lisbon-based Portuguese energy company, further expanding my network into European energy. This elevated me into price reporting at S&P Global, where I emerged as the sole market specialist for LNG freight markets in the Atlantic basin. It was here I saw the consolidation of all my contacts in Africa, Europe, and other locations as I analyzed and priced LNG shipping deals done west of the Suez Canal, covering Europe, Africa, and the Americas. This journey paved the way for my current role as an LNG Shipbroker at Maersk Broker.

Over the course of my career, which has covered three major continents, I have achieved a multitude of outstanding feats and pivotal milestones, these achievements include, but are not limited to:
  • Dentons Acas-Law legal team due diligence the oil field acquisition of OPL 276, situated in the eastern Niger Delta region.
  • Pioneering the conceptualization and launch of two first-to-market price assessments during my tenure at S&P Global. The first price assessment for two-stroke ships in the spot market to be assessed and published.
  • Elevated the role of LNG freight market specialist at S&P Global by amplifying visibility and fostering critical engagement on trade flow shifts. Notably, I was invited to present at the 44th Annual Caribbean Energy Conference in Santo Domingo, Dominican Republic, January 2023.  Engaging with regional stakeholders to analyse the effect of freight markets and trade dynamics within the Caribbean context.
  • Driving over 30% increase in engagement with African stakeholders in the LNG industry at Maersk Broker, looking to both small-scale LNG and larger scale shipping to ease entry into the global LNG shipping market of African entities.
The energy industry is known for its complexities. What were some significant challenges you faced along the way, and how did you navigate through them to achieve your goals?

Navigating my journey, I encountered pivotal challenges that underscored the importance of access and opportunity. Foremost among these challenges was the perpetual struggle of gaining entry. Whether grappling with visa complexities as an international student seeking work in the UK during the pandemic's peak or contending with visa delays inherent to my Nigerian passport, my pursuit as an African in a global industry was marked by shut doors. A notable instance materialized in October 2020 when the onset of the COVID-19 pandemic not only shuttered international borders but also stagnated economies and hiring processes. This compelled me to depart from my role at EDP, returning to Nigeria and effectively commencing from square one at a juncture when I anticipated my career to flourish.

At the core of my approach lies the fundamental tenet, "Where there's a will, there's a way." Confronting such challenges has honed my capacity to pivot and adapt. During the subsequent four months spent in my parents' Nigeria home, I dedicated myself to applying for international opportunities in shipping and energy that transcended geographical confines and offered visa sponsorships. I harnessed the power of LinkedIn to cultivate my online network, compensating for my inability to be physically present in London or Lisbon for industry engagement. It was during this phase that and soon thereafter the opportunity at S&P Global came and I was back on a flight to London in February 2021.

Through persistence, adaptability, and a tenacious spirit, I've embraced the philosophy that challenges are not barriers but rather pathways to novel opportunities. My journey has reiterated the significance of resourcefulness in carving one's way forward and leveraging my unique blend of cultures from working and living in different environments as a strength.

What advice would you give to young females aspiring to excel in the energy sector? Are there any specific strategies or mindsets that helped you overcome obstacles and reach your current position?

For young women with aspirations to excel in the dynamic energy sector, I offer the following guidance: embrace the courage to stand out, for it is often in those moments of distinctiveness that we carve our path to success. Allow your curiosity to guide you across diverse industries, as every experience will contribute to your growth and versatility. Don't be hesitant to welcome new challenges, for it is within these uncharted territories that your greatest innovation and capabilities can flourish. In a traditionally male-dominated field, it's essential to recognize the power of your uniqueness. Your different perspective, insights, and approaches can yield solutions that may not have been considered before. The energy sector is continuously evolving, demanding fresh perspectives to address complex challenges and drive innovation. By daring to stand out, you not only bring your own voice to the table but also contribute to the transformation of an industry that would only ever thrive on diversity of thought.

A career in energy can be demanding. Could you describe a typical day in your life?

In my role as a shipbroker, my days are a blend of diverse activities. I kickstart with emails, follow up on any ongoing discussions or shipping requirements from the days before and stay updated on the latest market developments. Engaging with clients in chartering discussions and opportunities, ensuring all viable opportunities are maximized. I delve into market research to provide accurate insights while continuously seeking networking opportunities enhances my industry connections.

Guiding clients through decisions and creatively solving problems are fundamental components to the role. As the day winds down, I ensure updates are shared with clients and colleagues alike. It's a fast-paced, rewarding role that relies on effective communication, thorough research, and adaptability to navigate the dynamic world of LNG shipping.

Looking ahead, what changes or advancements do you hope to see in the energy sector, and how do you envision your role in shaping that future?

Looking ahead, I envision a shift towards sustainable energy sources, driven by renewable technologies and innovative solutions to foster a greener future. In this landscape, I hope to bring a diverse perspective whereby I can merge my cultural insights with global industry trends and foster truly global trade in energy markets- particularly with the goal of maximizing Africa’s full energy potential.
Distributed by APO Group on behalf of African Energy Chamber.

SOURCE
African Energy Chamber


Sunday, November 28, 2021

THE NEW NNPC BOARD AND STRATEGIC BALANCING

THE NEW NNPC BOARD AND STRATEGIC BALANCING

- By Frederick Harry


On August 16th 2021, President Muhammadu Buhari signed the much awaited Petroleum Industry Bill into law. The signing of the Bill into law was hailed as a timely intervention as it is expected to “provide certainty to potential and existing investors on the applicable fiscal regime in the Petroleum Industry”. By the powers vested in the President under section 59 (2) of the Petroleum Industry Act 2021, on September 19, 2021 he approved and appointed the Board and Management of NNPC Ltd with Senator Godwin Ararume as the Chairman of the Board.

The appointment of the Chairman of the Board from Imo State in the South East was applauded as evidence that the relationship between the people of the region and the President was heading north.

The inauguration of the board has however been suspended twice as a result of scathing criticism against some members by some activists, civil society organisations, petitions from powerful interest groups and alleged resistance by the International Oil Companies (IOCs).

Mr. Deji Adeyanju, the Convener of Concerned Citizens of Nigeria had described the appointment of Senator Ararume as a travesty and criticized the Buhari government’s “penchant for outlandish and unconventional methods of appointing cronies and men of questionable character” to important public offices. He insisted that there are many qualified technocrats and experienced oil and gas industry players from Imo State that can lead the charge at NNPC and manage the country’s main source of revenue and that Senator Ararume does not fit in that mould.

This type of blistering and witheringly scornful criticism coupled with fight back by the IOCs and counteraction by the political elites across board allegedly led to the indefinite suspension of the inauguration of the board as announced by the Secretary to the Federal Government on November 23, 2021. It is now being speculated in the Energy Halls of Power and Corridors of Political Influence that the federal government is considering nominating another person as Chairman of the Board.

It is very imperative therefore that the Buhari administration should take certain salient factors including but not limited to political environment, economic challenges, management skills and social issues into consideration before making such a nomination.

On the political environment, the ruling party, APC has been striving to make in-roads in the South East and the South South regions of Nigeria. Senator Hope Uzodinma, the Imo State Governor has been leading from the front in ensuring that  citizens from the two regions embrace the party wholeheartedly. This can be seen from his tenacity and doggedness in persuading his brother Governors from Ebonyi and Cross River States to join the party. He has essentially converted all the big and influential political players in the South East to APC. It is the prevailing public opinion that if the nominated Chairman of the Board would be changed, the President should consult the Governor to liaise with other relevant stake holders from the South East to present an acceptable candidate with cognate industry and management experience to lead the board and that person should come from Imo State.

What many people may not know is that oil, the bedrock of the Nigerian economy was first discovered in Iho Dimeze community in Ikeduru LGA of Imo State in 1937 by Shell Petroleum then known as Shell D’Arcy. The company established a base in Owerri before it left for Oloibiri in Rivers State when it discovered oil in commercial quantities there in 1956.

With the recovery of 43 Oil Wells from Rivers State by the Uzodinma administration which is the greatest economic feat by any Imo Governor since 1999, Imo State is now an assertive 4th oil producing state in the country. Imo State is home to over 200 trillion cubic feet of natural gas deposit and upside of potential 600 trillion cubic feet. Natural gas has today become a catalyst for socio-economic renaissance all over the world as the urgent need for clean and renewable energy need not be emphasized. With the emerging importance of Imo State to the nation’s economy, it would be unthinkable to deny the state the chance to lead the Board of NNPC Ltd.

It must however be reiterated that the new NNPC Board needs to be led by a certified change agent who is conversant with processes and management strategies of formulation, implementation, evaluation, modification and monitoring. It must be someone ready to implement a paradigm shift agenda with his eyes on the ball of common good not the next election. He must be an innovative thinker with excellent track record and culture of excellence in service crafting tactics to achieve objectives. He must demonstrate outstanding problem solving skills and exemplary team leadership ability with knowledge of climate challenges.

Nigeria is considered 58th most vulnerable and 22nd least ready nation to adapt to the threats of climate change. With 25% of the population living in exposed coastal region, a vast majority of the citizens plagued by devastating poverty and insecurity fueled partly by climate change, NNPC led by the Board should be ready for transitioning into “Green Economy”. The Board must be ready to create platforms for engagement to achieve climate readiness with clean energy and improved decision making.  The country cannot afford a misstep now.

The ball remains in the court of Mr. President to consult widely and give the Board a Chair that would lead the way for the nation’s economic progress. 

###

Frederick Harry, a Nigerian from the Grand Bonny Kingdom, is a contributing editor to CNBC and Africa Business News.




Thursday, August 25, 2011

Behold the Nigerian Generation of Olodos!


Photo Credit: "Confusion Of The Nigerian Youth" from Information Nigeria.Org


Behold the Nigerian Generation of Olodos!

Shocking reports of mass failures in Nigerian school examinations have only confirmed the observations of many scholars and social watchdogs since the past and present incompetent administrations of the Nigerian government have failed to address the systemic failure of modern education in Africa’s most populous nation.

How can pupils and students pass examinations and excel in scholarship when they no longer read!

They prefer to waste their quality time chatting and pinging on smart phones, babbling and gossiping on Facebook filled with their trivia of junk, Twitter and other social network sites, hooked on European soccer leagues and championships and messing around in wanton promiscuous sexual intercourse spun by psychedelic X-rated hip hop music videos and pornographic movies on the Internet and TV while their equally corrupt parents and guardians have failed to be good role models since they have been caught in extramarital affairs of adultery, rape, and other licentious acts of debauchery and other corrupt practices.

Many of the parents are actually intellectually retarded and the only thing they know best is having sex and breeding children they cannot care for. So, majority of the retarded parents breed retarded children and increasing the population of dummies and liabilities who are a regular supply of recruits for crime and prostitution in Nigeria.


What of the school teachers?

When the educational system has collapsed, what kind of teachers do you expect from the tertiary schools?

Over 80 percent of the teachers are not professionally qualified to teach, because they don’t have the compulsory certification to teach.
I bet you, that majority of them will fail the New York State Teacher Certification Examinations if they were in the US.

Majority of the Nigerian teachers in Nigerian schools are even as intellectually retarded as their pupils and students.

In 2008, 19,118 teachers in public schools in Kara State failed the aptitude and capacity tests in English and Mathematics designed from primary four pupils!

Then we have received the latest shocking report that 80 percent job seekers failed the 2011 Nigeria National Petroleum Corporation (NNPC) recruitment aptitude test. And the applicants are the so called best graduating students with first class and second class upper class degrees from Nigerian universities.

“The recent mass failure of candidates in WAEC and NECO exams nationwide makes the call for an urgent surgical review of our schools system more urgent than envisaged. Also our current experience in the ongoing recruitment exercise where candidates with the so-called 2:1 certificates post less than 20 percent score line in some cases has heightened our apprehension about the lack of functionality in our education format. Over dependent on certificates is not the best. Over 80% of the candidates that wrote the NNPC recruitment exams failed,” said Engr. Austen Oniwon, the Group Managing Director of the Nigeria National Petroleum Corporation (NNPC) on Monday August 22, 2011.

Majority of the graduates from the universities have been found wanting in intellectual skills, unemployable and unproductive.

They have been cheating to gain admission into tertiary institutions and cheating to pass examinations and cheating to graduate, cheating to get jobs and they continue cheating as a way of life until they pass away.

The Nigerian society is like a serio-comic tragedy of existential drama on earth.

The following observation is from a Nigerian blogger.

Distractions Unlimited!
While the Bermuda Triangle of social networks – Twitter, Facebook and Google – still reigns supreme; Blackberry (BB) has become a must for many. These students are no exception, they are constantly pinging. If only the propensity to face-book can be converted to facing their books, then these guys would pass. A post summarizes it thus:
SUN NEWSPAPER today confirmed that ONE million candidates failed SSCE… Y wont dey fail?
FB/ BB/ Lace wig/ …BBA/ Wizkid/ Oniru/ Galleria/ Elegushi/ Ozone/ Shawarma…/ Pizza/ ipod/ Brazilian Hair/ Twitter/ Sagging/ nimbuzz/ ipad… Mcheewwww!!!


~ By Nwachukwu Egbunike in Why won’t they fail? of The Feathers Project blog.

Mental retardation (MR) is a common malaise plaguing majority of the youths and just listening to the popular ditties of 99% of their most sensational hip hop singers is enough to rate their low Intelligence Quotient (IQ).

Communicating with them is like having a nightmarish discussion with idiots online and offline.

These hordes of Nigerian youth I call NFAs (No Future Ambitions) are intellectually retarded with below-average intelligence quotient (BAIQ).

The majority of Nigerian youths we are seeing before our very eyes today are a generation of dullards or what we call “Olodos” in the popular Yorùbá language.


~ By Ekenyerenozi Michael Chima, Publisher/CEO of International Digital Post Network LLC is a prize winning Nigerian writer, author of four books and many blogs, Founder/Programmer of the annual Eko International Film Festival and Festival Director of Screen Afrika in Lagos, Nigeria.

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