NLNG convenes national conference on contracting, procurement

A NATIONAL conference of Contracts & Procurement General Managers in private sector and Directors of Procurement in public sector is being convened by Nigeria LNG Limited (NLNG) to hold on June, 8, 2015 in Lagos.

With the prevailing oil and gas prices, which are 40% lower than previous levels and its resultant significant reduction in revenues of oil and gas producing countries and companies, there is an urgent need for cost efficiency and value for money.

According to NLNG’s Managing Director/Chief Executive Officer and Global President of Chartered Institute of Procurement & Supply (CIPS) headquartered in the UK, Babs Omotowa, “the conference is NLNG’s contribution to the ongoing drive to find strategies to survive the significant loss of revenue which is affecting GDP growth with potential for negative social impact. This is against the backdrop that costs, especially capital costs, have increased by over 500 per cent in the past two decades. Therefore, driving cost efficiency and value-for-money out of government and organization spend and lowering costs through efficiency, discipline, creativity and innovation, is critical.|

Omotowa added: “Good procurement strategies and practices can bring about significant benefits as seen in developed countries, and it also provides a significant tool for addressing corruption and capacity building in developing countries. This conference is to enable major players in contracting and procurement activities discuss how to deliver higher benefits to their organisations and to the Nigerian economy at large. This is our hope for Nigeria, in line with our vision to help build a better Nigeria, and as the number 1 ranked home-grown Nigerian Company,” he added.

The conference is expected to attract industry leaders, Contracting and Procurement General Managers and Directors of Procurement in Public Sectors.

NLNG is owned by four shareholders, namely, the Federal Government of Nigeria, represented by the Nigerian National Petroleum Corporation, NNPC (49%), Shell Gas BV, SGBV, (25.6%), Total LNG Nigeria Limited (15%), and Eni International (N.A,) N. V. S. a. r. l (10.4%).