Economy

NCDMB Lauds Nigerdock as 49 Trainees Graduate

Published

7 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

FAAC Disburses 1.727trn to FG, States Local Councils in December 2024

Published

24 hours ago

14/12/2024

Modupe Gbadeyanka

By Modupe Gbadeyanka

The federal government, the 36 states of the federation and the 774 local government areas have received N1.727 trillion from the Federal Accounts Allocation Committee (FAAC) for December 2024.

The funds were disbursed to the three tiers of government from the revenue generated by the nation in November 2024.

At the December meeting of FAAC held in Abuja, it was stated that the amount distributed comprised distributable statutory revenue of N455.354 billion, distributable Value Added Tax (VAT) revenue of N585.700 billion, Electronic Money Transfer Levy (EMTL) revenue of N15.046 billion and Exchange Difference revenue of N671.392 billion.

According to a statement signed on Friday by the Director of Press and Public Relations for FAAC, Mr Bawa Mokwa, the money generated last month was about N3.143 trillion, with N103.307 billion used for cost of collection and N1.312 trillion for transfers, interventions and refunds.

It was disclosed that gross statutory revenue of N1.827 trillion was received compared with the N1.336 trillion recorded a month earlier.

The statement said gross revenue of N628.972 billion was available from VAT versus N668.291 billion in the preceding month.

The organisation stated that last month, oil and gas royalty and CET levies recorded significant increases, while excise duty, VAT, import duty, Petroleum Profit Tax (PPT), Companies Income Tax (CIT) and EMTL decreased considerably.

As for the sharing, FAAC disclosed that from the N1.727 trillion, the central government got N581.856 billion, the states received N549.792 billion, the councils took N402.553 billion, while the benefiting states got N193.291 billion as 13 per cent derivation revenue.

From the N585.700 billion VAT earnings, the national government got N87.855 billion, the states received N292.850 billion and the local councils were given N204.995 billion.

Also, from the N455.354 billion distributable statutory revenue, the federal government was given N175.690 billion, the states got N89.113 billion, the local governments had N68.702 billion, and the benefiting states received N121.849 billion as 13 per cent derivation revenue.

In addition, from the N15.046 billion EMTL revenue, FAAC shared N2.257 billion to the federal government, disbursed N7.523 billion to the states and transferred N5.266 billion to the local councils.

Further, from the N671.392 billion Exchange Difference earnings, it gave central government N316.054 billion, the states N160.306 billion, the local government areas N123.590 billion, and the oil-producing states N71.442 billion as 13 per cent derivation revenue.

Economy

Okitipupa Plc, Two Others Lift Unlisted Securities Market by 0.65%

Published

1 day ago

14/12/2024

Adedapo Adesanya

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.65 per cent gain on Friday, December 13, boosted by three equities admitted on the trading platform.

On the last trading session of the week, Okitipupa Plc appreciated by N2.70 to settle at N29.74 per share versus Thursday’s closing price of N27.04 per share, FrieslandCampina Wamco Nigeria Plc added N2.49 to end the session at N42.85 per unit compared with the previous day’s N40.36 per unit, and Afriland Properties Plc gained 50 Kobo to close at N16.30 per share, in contrast to the preceding session’s N15.80 per share.

Consequently, the market capitalisation added N6.89 billion to settle at N1.062 trillion compared with the preceding day’s N1.055 trillion and the NASD Unlisted Security Index (NSI) gained 19.66 points to wrap the session at 3,032.16 points compared with 3,012.50 points recorded in the previous session.

Yesterday, the volume of securities traded by investors increased by 171.6 per cent to 1.2 million units from the 447,905 units recorded a day earlier, but the value of shares traded by the market participants declined by 19.3 per cent to N2.4 million from the N3.02 million achieved a day earlier, and the number of deals went down by 14.3 per cent to 18 deals from 21 deals.

At the close of business, Geo-Fluids Plc was the most active stock by volume on a year-to-date basis with a turnover of 1.7 billion units worth N3.9 billion, followed by Okitipupa Plc with the sale of 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.3 million units sold for N5.3 million.

In the same vein, Aradel Holdings Plc remained the most active stock by value on a year-to-date basis with the sale of 108.7 million units for N89.2 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with a turnover of 297.3 million units worth N5.3 billion.

Economy

Naira Trades N1,533/$1 at Official Market, N1,650/$1 at Parallel Market

Published

1 day ago

14/12/2024

Adedapo Adesanya

By Adedapo Adesanya

The Naira appreciated further against the United States Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) by N1.50 or 0.09 per cent to close at N1,533.00/$1 on Friday, December 13 versus the N1,534.50/$1 it was transacted on Thursday.

The local currency has continued to benefit from the Electronic Foreign Exchange Matching System (EFEMS) introduced by the Central Bank of Nigeria (CBN) this month.

The implementation of the forex system comes with diverse implications for all segments of the financial markets that deal with FX, including the rebound in the value of the Naira across markets.

The system instantly reflects data on all FX transactions conducted in the interbank market and approved by the CBN.

Market analysts say the publication of real-time prices and buy-sell orders data from this system has lent support to the Naira in the official market and tackled speculation.

In the official market yesterday, the domestic currency improved its value against the Pound Sterling by N12.58 to wrap the session at N1,942.19/£1 compared with the previous day’s N1,954.77/£1 and against the Euro, it gained N2.44 to close at N1,612.85/€1 versus Thursday’s closing price of N1,610.41/€1.

At the black market, the Nigerian Naira appreciated against the greenback on Friday by N30 to sell for N1,650/$1 compared with the preceding session’s value of N1,680/$1.

Meanwhile, the cryptocurrency market was largely positive as investors banked on recent signals, including fresh support from US President-elect, Mr Donald Trump, as well as interest rate cuts by the European Central Bank (ECB).

Ripple (XRP) added 7.3 per cent to sell at $2.49, Binance Coin (BNB) rose by 3.5 per cent to $728.28, Cardano (ADA) expanded by 2.4 per cent to trade at $1.11, Litecoin (LTC) increased by 2.3 per cent to $122.56, Bitcoin (BTC) gained 1.9 per cent to settle at $101,766.17, Dogecoin (DOGE) jumped by 1.2 per cent to $0.4064, Solana (SOL) soared by 0.7 per cent to $226.15 and Ethereum (ETH) advanced by 0.6 per cent to $3,925.35, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.