Oil, gas trainers lose $2b to COVID-19

The Oil and Gas Trainers Association of Nigeria (OGTAN) has some $2 billion in the last 12 months following the COVID-19 outbreak.

Its president, Mayowa Afe, made the disclosure yesterday in Lagos at a media briefing to announce activities lined up for this year’s annual general meeting/lecture series of the organisation.

According to him, immediately the pandemic broke out, most oil and gas companies cancelled trainings for their workforce, while those that did not, reduced their budgets and went virtual.

He noted that for every oil and gas contract in the country, three per cent of the project sum goes to training, adding: “But COVID-19 compelled most oil and gas firms to cancel contracts because the resources to execute them were just not available, a development which impacted negatively on the fortunes of OGTAN members.”