Business

Experts Query Expatriate Heading NNPCL Subsidiary

Published

1 year ago

March 22, 2023

Some industry experts have raised concerns over the announcement of Jean-Marc Codier as the head of the oil trading arm of the Nigerian National Petroleum Company Limited (NNPCL).
A statement issued in Abuja by the Chief Corperate Communications Officer, Garba-Deen Muhammad, said he is to head NNPC Trading Ltd, a subsidiary of NNPCL, a situation which did not go down well with some industry experts.
The announcement attracted resentments among some analysts and operators on Monday, while other experts see it as normal.
Commenting on the issue, energy expert and Chief Executive Officer of Sage Consulting, Bode Fadipe, said, “It is of concern to most Nigerians that at this time of our life we are still having a foreigner in such a strategic business enterprise in this country.
“The question many people will ask is that, don’t we have Nigerians who can manage that office? Are the expatriates now investors in the business or is it a joint venture that allows a foreigner to hold that kind of position?
“Has NNPC Ltd sold its shares to the public? To the best of my knowledge, it is still the Nigerian government that owns the shares in NNPCL. It is still owned by the government, so when did it start appointing foreigners to such a level?”
According to Fadipe, this was the first time he would see such an appointment in the national oil company, adding that it is abnormal.
“I think it is an anomaly. I don’t know what would have informed that kind of position, but I think it is a situation that calls for further interrogation”, he stated.
On his part, a legal consultant and energy law advisor, Prof. Yemi Oke, argued that under the Petroleum Industry Act 2021, NNPCL should be a going concern, as there were requirements under the law for appointments.
“There are other Nigerian companies that have expatriates as employees, all they need is to comply with the expatriate quota and show that there’s no local manpower skilled enough to man that particular office, due to the technical nature of the position,” he said.
A reliable source in NNPCL, however, disclosed to The Tide’s source that henceforth, most commercially viable subsidiaries of NNPCL will be managed by expatriates.
“I was reliably told that most subsidiaries or units that are commercially viable, the operations would be managed by expatriates, with those in M3 category now limited to administrative schedules.
“This is same with NNPC Retails (the filling stations arm), NETCO (National Engineering and Technical Company), NPDC (Nigeria Upstream Development Company), etc,” the source stated.
According to the source, “If the expatriates are on M3 NNPC grade (Executive Vice President is M2, Group Chief Executive Officer is M1), would that not lead to rivalry and conflict, at the expense of the company’s man-hours?”
The source explained that the decision to use expatriates as heads of viable subsidiaries could be “to instill higher productivity, improved net profit, better efficiency and operational effectiveness”.
Explaining the situation, NNPCL said in its statement that Cordier, served as a former Vice President of the Abu Dhabi National Oil Company, and that his appointment was in furtherance of the ongoing repositioning in the company for improved growth, better performance and service delivery.
“A renowned international oil trader, Cordier, a French/Swiss national, holds a Masters degree in Corporate Finance with Distinction from Paris 9 University.
“He comes into the role with a rich background spanning over 30 years in physical oil, oil derivatives, and risk management, with significant experience in reorganising and creating a trading business”.
Also, the President, Nigeria Consumer Protection Network, Kunle Olubiyo, urgwd NNPCL to promote the local content drive of the Federal Government.
“Does it mean that there are no competent Nigerians who could do the same job, with respect to the promotion of local content? NNCPL has a mandate of refining petroleum products and it is a national company.

Business

Western Marine Command Intensifies Anti-Smuggling Operations … Intercepts N8.75m Worth PMS

Published

2 days ago

May 17, 2024

The Tide

For officers and men of the Western Marine Command of the Nigeria Customs Service (NCS), the battle is not over until smuggling is over.
In the wake of Wednesday May, 8, 2024, the ever vigilant officers, acting on a tip-off, intercepted 177 sacks and 61 kegs of 25 litres containing petroleum products, valued at about N8.750,000million.
The items were intercepted along Isalu Creek, Badagry Waterway en-route Benin Republic.
While briefing newsmen, the Command’s Customs Area Controller, Comptroller Paul Bamisaiye, said: “This seizure is most economically significant to the Command at this period of scarcity of Petroleum Products, especially Premium Motor Spirit (PMS) in our cities, and shows the anticipatory posture in our response to economic saboteurs.
“At about 2:330hrs on Wednesday 8th May 2024, while on joint patrol by teams in the Command, credible intelligence was received of the movement of 2 boats laden with what was suspected to be petroleum products concealed in sacks. Upon receipt of the information, the team moved into Isalu creeks, Badagry waterway.
“On sighting the approach of the Officers, the smugglers took to their heels through the shore of the Creek. The loaded boats were then towed to the station at Badagry where preliminary examination was conducted and transferred to Western Marine Command Headquarters, Ibafon, Apapa, Lagos.
“Careful examination at the Command Headquarters revealed that the arrest was found to contain One Hundred and Seventy Seven (177) Sacks and Sixty One (61) Kegs of 25 Litres Premium Motor Spirit (PMS) containing Twelve Thousand Five Hundred (12,500) Liters with a total Duty Paid Value standing at Eight Million Seven Hundred and Fifty Thousand Naira (N8,750,000) only”.
Bamisaiye noted that the action of the smugglers is a contravention of Section 245 & 254 of the Nigeria Customs Service Act 2023 which the service, through Western Marine Command, is responsible for enforcing.
“The Command, under the leadership of Compt. PK Bamisaiye, is poised more than ever to rid the waterways of all acts of smuggling and economy sabotage for the benefit of the growth of economy of Nigeria”, he said
Bamisaiye said so far, no suspect was arrested in the Command’s anti-smuggling operations.

Nkpemenyie Mcdominic, Lagos

Business

Illegal PMS Trading Booms In Lagos

Published

2 days ago

May 17, 2024

The Tide

Petroleum products being sought by motorists have disappeared from virtually all filling stations within Lagos and its environs, but are now booming in business in retail outlets.
Investigations by our correspondent revealed that while the product could not be got at some of the petrol service stations, activities are in top gear in the local retail outlets where the price has gone beyond the reach of users.
It was also gathered that in some filling stations supplied with the products, preference are often given to retail outlet operators by petrol attendants against the consuming public.
A source, directly involved in the business, said some petrol dealers are cashing on the irregular supply to divert the products to retail outlets where they could easily make their gains.
It was also gathered that some sales representatives in the service of major oil marketing firms indulged in the diversion exercise because of their personal interest.
At the retail outlets a liter goes for N950,00 against the normal N760,to N800 at some stations.

Nkpemenyie Mcdominic, Lagos

Business

Customs Board Appoints Five DCGs, Eight ACGs

Published

2 days ago

May 17, 2024

The Tide

The Nigeria Customs Service Board (NCSB) has confirmed the appointment of five Deputy Comptroller-Generals (DCGs) and eight Assistant Comptrollers-General (ACGs) of Customs during its 59th regular meeting.
The meeting, chaired by the Honorable Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, was held at the Nigeria Customs Service Headquarters in Abuja last Tuesday.
National Public Relations Officer of the Service, Chief Superintendent of Customs, Abdullahi Maiwada, who disclosed this in a statement yesterday, gave details of the confirmed appointments as: O.O. Peters (DCG /Commander, Training and Doctrine Command (rtd); B.M. Jibo (DCG Enforcement Inspection & Investigation); and B.U. Nwanfor (DCG Excise, Free Trade Zone & Industrial Incentives).
Others are: S.A. Bomia (DCG, Commander Training and Doctrine Command); and C.K. Niagwan (DCG, Tariff & Trade).
The Assistant Comptrollers General (ACGs) are: B. Imam (ACG Board); A.A.S. Oloyede (ACG, Trade & Tariff); S.K. Dangaldima (ACG/Zonal Coordinator, Zone ‘B’); A. Abdul Azeez (ACG/Zonal Coordinator, Zone ‘D’); S.A. Yusuf (ACG, Human Resource Development); N.P. Umoh (ACG, Training and Doctrine Command); C.O. Obih (ACG/Zonal Coordinator, Zone ‘C’); and S. Chiroma (ACG, Strategic Research and Policy).
The new appointments, according to the statement, were made to fill the vacancies created by some senior officers who recently retired from the Service, noting that the principles of federal character, seniority and merit guided the appointments approved by the board.
“These appointments are a testament to the officers’ exemplary services and dedication to the Nigeria Customs Service. The NCSB remains committed to providing strategic leadership to ensure effective and efficient service delivery for optimum performance”, he said.
While thanking the retired members of the management for their meritorious services, the Comptroller General of Customs, Bashir Adewale Adeniyi, congratulated the newly confirmed officers and charged them to redouble their efforts to ensure the service attains greater heights in its mandates of revenue generation, suppression of smuggling, and trade facilitation amongst others.

Nkpemenyie Mcdominic, Lagos