Project 100 Contributes N50bn to Nigeria’s GDP, And to Create Over 16500 Jobs

Indigenous oil and gas service companies under the auspices of Project 100 have determination to do their bit to ensure the objectives of the scheme are realized.

The project 100 beneficiary companies currently contribute over N50 billion to Nigeria’s Gross Domestic Product (GDP) as well create over 1,500 direct and 15,000 indirect jobs that benefit the nation.

The companies made this disclosure in a presentation during a virtual meeting with the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB) Engr. Simbi Wabote.

The group in a statement noted that the increased involvement of Project 100 Companies in supply chain of international oil companies (IOCs) and big EPCI companies will be a major boost in the quest to collectively support local companies to become large enterprises and deepen Local Content practice in Nigeria’s oil and gas industry.

Project 100 is an initiative of the Ministry of Petroleum Resources and the NCDMB to identify 100 Nigerian oil and gas service providers and support them through special interventions to facilitate their
incubation, maturation and growth into world class service companies. Sixty oil service companies currently make up the scheme with capacity in 12 core service areas and more than 200 technical service offerings.

The Project 100 beneficiary companies executive committee is led by Mrs. Funmi Ogbue as Chairman, Mr. Bode Ogundipe (General Secretary) and Mr.Tony Obiebor (Executive member). Others in attendance at the meeting were: Austin Ahwinahwi Kurusu, (Kurusu & Associated Industries); Toni Ubiebor, Nowerox  Executive Member; Onochie Onyetenu, Mafuta Energy Executive Member; Ose Ojemekele, Adroit  Executive Member and Robert Ade-Odiachi, IPMC, Executive Member.

In her presentation on behalf of the companies tagged “Project 100 Post COVID Development Plan: Creating Survival and Growth Opportunities” Mrs. Ogbue reaffirmed Project 100’s capacity to develop and utilise Nigerian materials as well as the potential of the scheme to acquire and utilise Nigerian equipment.

Mrs. Ogbue who is also the Managing Director of Zigma Ltd, made a case for the creation of a platform for P100 Companies for the purpose of engagement, collaboration and continuous development within the industry and the NCDMB. Such a platform, she said, would further help to drive the much-needed access to market for P100 Companies.

The group further appealed to the premier oil industry local content board to facilitate “valuable introduction and access of P100 Companies to owners of major projects such as NLNG Train 7 project, AKK, and to other major  IOCs (Chevron, Exxon, NOCs etc ) projects.

“P100 Companies should be introduced to marginal field operators for project consideration. This will further drive the P100 imperatives and its sustainability,” Mrs. Ogbue said.

In an appreciation message to the NCDMB Executive Secretary after the meeting, Mrs. Ogbue said: We sincerely wish to thank you for the opportunity to interface with you and for approving some of the key game Changers item presented to you, As a group, our driving force is to continuously engage with each other and with the Board positively to succeed, pass on the torch, and mentor new and upcoming generation of Oil & Gas companies in the scheme. We assure you of our resolve to critically pursue good governance, quality assurance, adaptability and growth, resilience in the conduct of
our operations to create businesses that last,” she added.

The Executive Secretary, NCDMB Engr. Simbi Wabote who acknowledged the request made by the P100 companies reinforced his support for the scheme and tasked members to align with the concepts of diligence, aspiration, responsibility and maximum possibilities the industry offers. It would be recalled that Project 100 was conceived in 2017 to identify 100 start-up oil and gas and support them through special interventions to facilitate their incubation, maturation and growth into world class service companies.

The programme was introduced as part of the Boards mandate to develop the capacity of the local supply chain for effective and efficient service delivery in the oil and gas industry.

The first phase began in January 2019 and 60 companies were selected through a transparent process conducted by KPMG, an international consultancy firm.

 The benefits of the scheme include special interventions including access to market opportunities, access to capacity building, funding, policy prescription, research and development and business insight.

The areas of competencies of the Project 100 beneficiaries include exploration, subsurface and seismic services, fabrication and construction, FEED, detailed and other engineering services, marine services and operations and inspection, testing and certification.

Other key areas of competencies are inspection, hookup and commissioning, material and procurement, project management and consulting, well drilling services and petroleum technology as well as maintenance and modification among others.

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