Economy

NCDMB Lauds Nigerdock as 49 Trainees Graduate

Published

8 years ago

19/08/2017

By Dipo Olowookere

Leading indigenous energy services company, Nigerdock, has been applauded by the Nigerian Content Development and Monitoring Board (NCDMB) for its persistent efforts toward promoting local content and developing the nation’s human capacity, as 49 vocational trainees recently graduated from the Nigerdock Training and Development Academy.

The vocational trainees comprising 47 young men and 2 ladies are secondary school leavers, who commenced their on-the-job training (OJT) in May 2016 and 24 trainees acquired skills in welding with (international: 6G and 6GR certifications and Nigerdock Certification of Completion -NDCC).

At the academy, 19 of them were trained in fitting and 6 were trained in machining.

At the graduation ceremony held at the Nigerdock facility located at Snake Island Integrated Free Zone (SIIFZ), the Executive Secretary of the NCDMB, Engr. Simbi Wabote, who was represented by Manager, Capacity Development Division, Engr. Iwhiwhu Maurice Kelly, appreciated Nigerdock, Samsung Heavy Industries and TOTAL for further deepening local content and improving Nigeria’s Human Capacity Development through its world class training academy.

“We commend Nigerdock, Samsung Heavy Industries Ltd and TOTAL Upstream Nigeria Limited because we are confident that these vocational trainees have been trained in various skillsets that empower them to provide the necessary manpower and services for the sector and they can compete with their counterparts in other parts of the world,” he noted.

Engr. Iwhiwhu also appealed to the graduating trainees to be good ambassadors of the Academy. He commended all the stakeholders for completing the training safely.

The National Human Capacity Development (NHCD) plan for the training was designed as an on-the-job training model. As such the trainees witnessed the fabrication of various structures on Egina FPSO Project and provided support during the project. In addition, some of the trainees witnessed activities in other areas of Nigerdock’s operations like the shipyard division and offshore logistics division.

Egina NHCD trainees fortuitously happen to be the first set of trainees to graduate from the recently rebranded Nigerdock Training and Development Academy. The former Training Centre was established in 1986, and has as so far trained about 30,000 Nigerians in various skillsets and discipline in the oil and gas industry, awarding globally recognized certificates.

Group Corporate Affairs Director, Jagal, Mrs Joy Okebalama, reaffirmed Nigerdock’s commitment to continuously champion local content development in Nigeria. She also lauded Samsung Heavy Industries Nigeria LTD, TOTAL and NCDMB for supporting the program.

Present at the graduation ceremony were Group MD, Jagal Energy, Mr Chris Bennett; Human Capacity Development Manager, Nigerdock, Mr Emeka Anazia; Nigerian Content Manager, Samsung Mr Imo Kalu Imo; Mrs Amarachi Chibundu Manager, Egina Partners and Authorities Relations, among others.

Sylvanus Unwene, a graduate who trained as a machinist, expressed gratitude to Nigerdock, Samsung, TOTAL and the NCDMB for providing the platform to empower young people. “I feel happy for this life-changing experience. We all appreciate the experience especially as we completed it in very safe environment. We are eager to utilize these skills both locally and internationally.”

The outstanding experience of a female employee of Nigerdock who rose to become a Captain, Noimot Akasan, was also related to the graduating students and guests. Akasan joined Nigerdock as an Industrial Training student, but later became a trainee Captain on Nigerdock boats in 2012

Through persistent efforts and support from the company, Akasan has acquired necessary certifications from industry certified Institutes including Higher National Diploma in Port Management; Post Graduate Diploma in Transport Management and she is currently undergoing a Master’s Degree in Maritime Transportation

Earlier this years, 48 professional trainees graduated from the Academy upon completion of their on the job training under EGINA FPSO Project. Nigerdock Training and Development Academy is Nigeria’s foremost indigenous training institution offering the highest quality and competence needs-based training for the oil and gas sector.

Economy

Food Concepts Return NASD OTC Exchange to Danger Zone

Published

4 hours ago

05/12/2025

Adedapo Adesanya

By Adedapo Adesanya

Food Concepts Plc neutralized the gains recorded by three securities, returning the NASD Over-the-Counter (OTC) Securities Exchange into the negative territory with a 0.27 per cent loss on Thursday, December 4.

Yesterday, the share price of the parent company of Chicken Republic and PieXpress declined by 34 Kobo to sell at N3.15 per unit compared with the previous day’s N3.49 per unit.

This shrank the market capitalisation of the OTC bourse by N5.72 billion to N2.136 billion from N2.142 trillion and weakened the NASD Unlisted Security Index (NSI) by 9.57 points to 3,571.53 points from 3,581.10 points.

Business Post reports that Central Securities Clearing System (CSCS) Plc went down by 50 Kobo to N38.50 per share from N38.00 per share, FrieslandCampina Wamco Nigeria Plc gained 29 Kobo to sell at N55.79 per unit versus N55.50 per unit, and Geo-Fluids Plc added 5 Kobo to close at N4.60 per share compared with Wednesday’s closing price of N4.55 per share.

Trading data indicated that the volume of securities recorded at the session surged by 6,885.3 per cent to 4.3 million units from the 61,570 units posted a day earlier, the value of securities increased by 10,301.7 per cent to N947.2 million from N3.3 million, and the number of deals went up by 146.7 per cent to 37 deals from the 15 deals achieved in the previous trading session.

At the close of business, Infrastructure Credit Guarantee Company (InfraCredit) Plc was the most traded stock by value on a year-to-date basis with the sale of 5.8 billion units for N16.4 billion, trailed by Okitipupa Plc with 170.4 million units worth N8.0 billion, and Air Liquide Plc with 507.5 million units valued at N4.2 billion.

InfraCredit Plc also finished the session as the most traded stock by volume on a year-to-date basis with 5.8 billion units transacted for N16.4 billion, followed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.2 million, and Impresit Bakolori Plc with 536.9 million units traded for N524.9 million.

Economy

Investors Gain N97bn from Local Equity Market

Published

4 hours ago

05/12/2025

Dipo Olowookere

By Dipo Olowookere

The upward trend witnessed at the Nigerian Exchange (NGX) Limited in recent sessions continued on Thursday as it further improved by 0.10 per cent.

This was despite investor sentiment turning bearish after the local equity market ended with 23 price gainers and 28 price gainers, indicating a negative market breadth index.

UAC Nigeria gained 10.00 per cent to finish at N88.00, Morison Industries appreciated by 9.94 per cent to N3.54, Ecobank rose by 8.53 per cent to N36.90, and Coronation Insurance grew by 8.47 per cent to N2.56.

On the flip side, Ellah Lakes depreciated by 10.00 per cent to N13.14, Eunisell Nigeria also shed 10.00 per cent to finish at N72.90, Transcorp Hotels slipped by 9.95 per cent to N157.50, Omatek shrank by 9.23 per cent to N1.18, and Guinea Insurance dipped by 8.46 per cent to N1.19.

Yesterday, the All-Share Index (ASI) went up by 152.28 points to 145,476.15 points from 145,323.87 points and the market capitalisation chalked up N97 billion to finish at N92.726 trillion compared with the previous day’s N92.629 trillion.

Customs Street was bubbling with activities on Thursday, though the trading volume and value slightly went down, according to data.

A total of 1.9 billion stocks worth N19.2 billion exchanged hands in 23,369 deals during the session versus the N2.3 billion valued at N21.0 billion traded in 21,513 deals a day earlier.

This showed that the number of deals increased by 8.63 per cent, the volume of transactions depleted by 17.39 per cent, and the value of trades decreased by 8.57 per cent.

For another trading day, eTranzact led the activity chart with 1.6 billion units sold for N6.4 billion, Fidelity Bank traded 31.0 million units worth N589.3 million, GTCO exchanged 28.3 million units valued at N2.5 billion, Zenith Bank transacted 27.1 million units for N1.6 billion, and Ecobank traded 21.9 million units worth N744.3 million.

Economy

Naira Loses 18 Kobo Against Dollar at Official Market, N5 at Black Market

Published

5 hours ago

05/12/2025

Adedapo Adesanya

By Adedapo Adesanya

The Naira marginally depreciated against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, December 4 amid renewed forex pressure associated with December.

At the official market yesterday, the Nigerian currency lost 0.01 per cent or 18 Kobo against the Dollar to close at N1,447.83/$1 compared with the previous day’s N1,447.65/$1.

It was not a different scenario with the local currency in the same market segment against the Pound Sterling as it further shed N15.43 to sell for N1,930.97/£1 versus Wednesday’s closing price of N1,925.08/£1 and declined against the Euro by 20 Kobo to finish at N1,688.74/€1 compared with the preceding session’s N1,688.54/€1.

Similarly, the Nigerian Naira lost N5 against the greenback in the black market to quote at N1,465/$1 compared with the previous day’s value of N1,460/$1 but closed flat against the Dollar at the GTBank FX counter at N1,453/$1.

Fluctuations in trading range is expected to continue during the festive season as traders expect the Nigerian currency to be stable, supported by intervention s by to the Central Bank of Nigeria (CBN)in the face of steady dollar demand.

Support is also expected in coming weeks as seasonal activities, particularly the stylised “Detty December” festivities, will see inflows that will give the Naira a boost after it depreciated mildly last month, according to a new report.

“As the festive Detty December season intensifies, inbound travel, tourism spending, and diaspora inflows are expected to provide moderate support for FX liquidity,” analysts at the research unit of FMDA said in its latest monthly report for November.

Traders cited by Reuters expect that the Naira will trade within a band of N1,443-N1,450 next week, buoyed by improved FX interventions by the apex bank.

Meanwhile, the crypto market was down as the US Federal Reserve’s preferred inflation gauge, core PCE, likely rose in September—moving in the wrong direction. However, volatility indices show no signs of major turbulence.

If the actual figure matches estimates, it would mark 55 straight months of inflation above the US central bank’s 2 per cent target. The sticky inflation would strengthen the hawkish policymakers, who are in favour of slower rate cuts.

Ripple (XRP) depreciated by 4.5 per cent to $2.08, Solana (SOL) went down by 3.8 per cent to $138.11, Litecoin (LTC) shrank by 3.1 per cent to $83.23, Dogecoin (DOGE) slid by 2.5 per cent to $0.1463, Cardano (ADA) declined by 2.1 per cent to $0.4368, Bitcoin (BTC) fell by 0.9 per cent to $91,975.45, Binance Coin (BNB) crumbled by 0.9 per cent to $899.41, and Ethereum (ETH) dropped by 0.7 per cent to $3,156.44, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 apiece.