Omotowa made the call while delivering the 19th Convocation Lecture of the Igbenidion University, Okada in Edo State.
Browsing: Babs Omotowa
This was disclosed on Thursday by the outgoing Managing Director and Chief Executive Officer of the NLNG, Babs Omotowa
The manned model will join other model used by Warsash Maritime Academy, a world leading marine technology and training academy, to provide training, consultancy and research to NLNG and help develop mariners in the art of handling a ship
The outgoing MD/CEO hands over to the incoming Chief Executive, Tony Attah, who will be engaged in an on-boarding programme until September 1 when he would effectively take over
NLNG is owned by four shareholders, namely, the Federal Government of Nigeria, represented by the Nigerian National Petroleum Corporation (49%), Shell Gas BV (25.6%), Total LNG Nigeria Limited (15%), and Eni International (N.A,) N. V. S. a. r. l (10.4%).
At the public hearing on a bill to amend the NLNG Act, the Managing Director of the company, Babs Omotowa, said this was why the NLNG is easily one of the biggest promoters of Corporate Social Responsibility in the area, supporting education, infrastructure development and entrepreneurship
Omotowa said payments made to JV feed gas suppliers from inception till date stood at $23 billion, of which 55 per cent to 60 per cent of this amount was payable to the Federal Government via its shareholding
Drawing a parallel between energy intensity and pattern of global gross domestic product, Omotowa, who referred the audience to the unfortunate statistic that a vast majority of African countries still have more than 50 per cent of their populations left without access to electricity and have correspondingly low per capita GDP of below $3,000, said: “It is on record for my company NLNG, that final investment decision was taken on an oil price level of $20 and the cost of steel is now at the same level it was 13 years ago when Train 3 FID was taken.
“The same applies to the cost of iron
He said it was high time the gas being flared is converted to something more productive as well as ensure the use of cleaner energy in the country
The Chairman of the Senate Committee probing the issue, Senator Peter Nwaoboshi, while briefing newsmen disclosed that the amount due for payment to the NDDC by the NLNG and the Ecological Fund Office, which they allegedly refused to pay for over 16 years, is colossal
The company reminded the committee that the matter under reference was the subject of a legal action filed against NLNG by the NDDC in 2005 and that the case had travelled through the judicial process from the High Courts through the Court of Appeal to the Supreme Court, which all ruled in NLNG’s favour in October 2011
He listed the beneficiaries to include Ahmadu Bello University, Zaria; University of Ibadan; University of Ilorin; University of Port-Harcourt; University of Maiduguri; and University of Nigeria, Nsukka
LNG Finima II was named by the wife of the Minister of State for Petroleum and the Group Managing Director of the Nigerian National Petroleum Corporation Elizabeth Kachikwu, who was however represented by the Legal Counsel of NLNG, Edith Unuigbe
Omatowa said: “We introduced the first Nigerian managed aviation partnership, investing significantly to ensure they could build local capacity of modern helicopters worth over $100 million (N20 billion)
He said: “NLNG today supplies about 80 per cent of the domestic cooking gas being used by Nigerians apart from awarding scholarships to students in science and technology and other courses
Omotowa said the NLNG had in March announced its plan to develop engineering education capacity in six universities in the country
The statement said that the delivery was witnessed by some senior NLNG officials, including the Managing Director, Babs Omotowa