Nigeria’s Oil And Gas Sector Would Come Out Of COVID-19 Stronger – Adegbite

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LAGOS – Taofeek Adegbite, the Chief Executive Officer(CEO) of Marine Platform has predicted that the Nigeria’s oil and gas sector would come out stronger from the COVID-19 pandemic which held it by the jugular for over a year. 

The pandemic, he noted, has been challenging as revenue goes down sharply and jobs suspended, adding that the industry has managed to keep afloat and continued operation. 

He explained that the development was a manifestation of the Nigerian oil and gas industry. 

Giving graphic accounts of the early signals of the pandemic, Adegbite said: “On a macro level, lower demand for hydrocarbons for fuelling cars and planes created a collapse in energy prices. In Nigeria, this led to the cancellation of contracts for service companies, the renegotiation of rates, and the loss of jobs. Our company was the first in the country to witness a COVID-19 infection, and although this was an unpleasant situation, it made us react and develop strong safety and health procedures to tackle the problem.

Our medical team was trained in disease control and infection, thanks to Lagos State Infectious Disease Control, and we were able to set up procedures that were later shared and used by other companies in the sector to mitigate the spread of infections in offshore locations.”

He also underscored the import of local content law, saying it has contributed to the creation of an array of service companies that are 100% indigenous and have modern equipment and vessels, as well as high-tech capabilities and local human resources that have been trained to operate in the sector.

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He added: “We are beginning to see foreign companies forge enduring partnerships in Nigeria, which is a positive step forwards for the country. Thanks to this, Nigerian service companies have been able to increase their presence as regional players, supporting the offshore industry in other African countries such as Ghana, Gabon and Guinea, among others. We hope that by doing this, we will be able to replicate our success story by bringing expertise, and sharing best practices and capabilities with other African countries, thereby contributing to the development of their oil and gas offshore services 

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