Following the negative impact of the COVID-19 pandemic, the Nigerian Content Development and Monitoring Board (NCDMB) has offered survival tips to its ‘Project 100’ companies and other oil and gas service companies, especially on risk assessment and reduction.
A release by the Executive Secretary of the board, Simbi Wabote, said the move became necessary because businesses in Nigeria and across the globe had continued to grapple with disruptions and setbacks caused by the pandemic.
The advisory was contained in a document titled: “Maintaining Business Resilience Amidst COVID-19,” prepared by the Project Management Office (PMO) of the Project 100 Initiative, a capacity development programme of the NCDMB in partnership with KPMG, an international consulting firm.
NCDMB noted that it was part of its institutional support to ensure business continuity and resilience by the start-ups and identified supply chain and operations disruptions as one of the major challenges experienced by companies at this time.
It enjoined Project 100 companies and other local businesses to identify where their key suppliers and contractors are located and develop contingency plans to ensure the sustainability of supply.
The local businesses were also advised to engage their logistics provider and develop mitigation and contingency plans in view of the restrictions and lockdown in many parts of the country.
“The advisory also identified the need for Project 100 companies and local businesses to develop a communication plan and engage with key customers, employees and suppliers and ensure that their staff can work remotely and safely while trying to maintain key operations.
“Other key nuggets included the need to pay attention to technology, Service Level Agreements (SLA) and to brace to take the shock of contract renegotiation with clients,” the organisation said.
It urged project 100 and local businesses to revise their cash flow, working capital management and inventory forecasts alongside supply and demand forecasts.
Meanwhile, the NCDMB has handed over ambulances, ventilators and other special medical supplies to the governments of Bayelsa, Delta and Rivers States in support of efforts to combat the spread of Coronavirus.
The donations, the company said, were made in partnership with the Petroleum Technology Association of Nigeria (PETAN) and were received on Friday in Yenagoa, Bayelsa State and Port Harcourt, Rivers State as well as on Saturday in Warri, Delta State.
Items donated included four ambulances, 10 synovent E3 ventilators, 300 infra-red thermometers and 1,000 medical face shields, hand sanitisers, hospital beds, disposable coveralls, personal protective equipment (PPEs) and other relief items.