Osinbajo, Barkindo, Sylva for Valuechain oil and gas lecture

Vice President Yemi Osinbajo and the Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr Mohammmad Sanusi Barkindo, are expected to grace the 4th edition of the Valuechain Annual Lecture and Awards to be held in Abuja on Monday.

A statement by the organisers said the Minister of State for Petroleum Resources, Chief Timipre Sylva, will also attend the lecture.

The lecture has the theme, ‘Enhancing Effective Synergy between Oil & Gas and

Maritime sectors for a greater value creation’.

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, is the keynote speaker; the lead speaker is the Director/ CEO, Department of Petroleum Resources (DPR), Engr. Sarki Auwalu; while the Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Y. Jamoh, will be the Guest Speaker.

The publisher of Valuechain Magazine, Musa Bashir Usman, said the importance of the Nigerian maritime sector is attested to by its value in the upstream sector of the oil and gas industry.

“Statistics show that there are over 20,000 ships working for the oil and gas sector in Nigerian waters with an annual spend of over $600 million in the upstream sector.

“The oil sector spends an average of $3 billion on marine vessels. The maritime as well as the oil and gas sector, therefore, have greater potential.”

In spite of the huge activities and revenue generated by these two sectors, their impact in terms of contribution to the country’s Gross Domestic Product (GDP) is abysmally low.