Nigeria Must Domesticate Oil and Gas Industry - Expert

Nigeria Must Domesticate Oil and Gas Industry - Expert

Nigeria Must Domesticate Oil and Gas Industry - Expert

Members of the Petroleum Engineering Department in a group picture with the Guest Speaker, Engr. Alex Neyin

The Chief Executive Officer of GACMORK Nigeria Limited, Engr. Alex Neyin, has stated that Nigeria must work conscientiously towards domesticating the oil and gas industry, by making sure that the country’s local content law is religiously implemented.

He gave the advice while presenting a paper titled, ‘The Way Out for Nigerian Petroleum Industry with the Present Low and Unstable Oil Prices,’ at a recent Town and Gown seminar of the Department of Petroleum Engineering, Covenant University, where he was the Guest Speaker.

Engr. Neyin, who has very rich experience in the oil and gas business, explained that the Nigerian oil and gas industry has been the main focus of most government officials and politicians in the country. He described reports that Nigerians front for foreign firms, in the guise of building local content, as a threat to the Nigerian economy and should be treated as such.

He advocated that all Nigerian refineries should be put into full operation and new ones built to stop product importation, thereby conserving the nation’s hard-earned foreign exchange from the sales of crude oil and gas.

Engr. Neyin noted that making Nigerian refineries functional would also provide employment opportunities for the citizens.

“The need for training is also a major requirement to be able to sustain the industry. The universities must work closely with the operators of the oil and gas companies to ensure they train sound professionals for the industry and the quality of the graduates from our universities must be closely monitored,” he emphasised.

Speaking on behalf of Head, Department of Petroleum Engineering, Dr. Paul Anawe, the chairman of the department’s Town and Gown Committee, Dr. Oluwatosin Rotimi, appreciated the Guest Speaker and all members of the department.

He described the seminar as a novel and mind-shaping platform. According to him, it has helped to change the mindset of many students and aligned them with realities in their areas of career interest.

“Town and Gown seminar series is a platform that has been raised by the CU management to bridge the gap between the industry and the academia, by equipping our students with practical skills that will make it easy for them to adjust in the labour market,” Dr. Rotimi stated.