Coordinated by Charles Dare
The collapse of corporate organizations is linked to several factors. While we cannot disregard the force majeure phenomenon, failure to comply with best global practices top the list of business risks. As businesses struggle for survival due to growing challenges, a number of them would rather stick to high standards of quality that their brand names are known for.
It goes without saying that these businesses have integrity ingrained in their operations; in fact, they have included it into their mission statements such that individuals of high repute and honor occupy their board and management positions.
Despite the fact that there are some companies that do not implement global practices in their daily operations, many more in the nation have demonstrated beyond doubt that they value their integrity by upholding ethical standards in their respective industries while continuing to be truthful in their local and international business dealings.
In this special report titled Integrity In Business- Special Report on Firms with Integrity and High Ethical Values, we will be unveiling some reputable firms in the corporate environment that have operated over the years with no blemish at local and international levels and can be relied upon business-wise.
PANA HOLDINGS: ROOTED IN INTEGRITY, GROWING WITH PURPOSE
In the heart of Nigeria’s vibrant business landscape, PANA Holdings stands as a beacon of integrity, unwavering in its commitment to ethical excellence. With a steadfast dedication to transparency, accountability, and fairness, it has cultivated a culture that not only prioritizes trust but embodies it.
PANA Holdings’ journey began with a simple yet profound promise: to conduct business with the utmost honesty, fostering relationships built on mutual respect and unwavering reliability. As it navigates the complexities of Nigeria’s dynamic market, it integrity remains the cornerstone of its operations, guiding every decision, every action, and every interaction.
Recognized by The Guardian as one of the Integrity-driven Firms in Nigeria, the Chairman/GCEO of PANA Holdings, Mr. Daere Akobo, talks about the growth of the holdings, some major economic challenges affecting businesses in Nigeria and the successes recorded in the group. Excerpts.
Mission and vision of PANA Holdings
PANA Holdings is a group of companies, underpinned by the commitment to drive sustainable growth globally, loyal to our ethical principles and regulatory compliance. We deploy innovative solutions across a variety of sectors including oil & gas, power, mining, critical infrastructure, finance and more, with sustainability and digital transformation as key parameters.
Our portfolio companies start with PE Energy Ltd, which was established in 2009 and has strong focus in Oil and Gas services, providing end-to-end solutions in flow drives, flow control, flow measurement and process pipeline services as well as supply chain management. Following the commissioning of our state-of-the-art Centre of Excellence in Port Harcourt, we were positioned to address complete assembling, testing, overhaul, maintenance and recertification operations for the first time in Nigeria, across all our offerings; As the company grew, we decided it was optimal to separate the upstream exploration and production activities from the energy services of PE Energy Ltd, which led to the incorporation of Synergy E&P Limited, followed by the establishment of AKD Digital Solutions Ltd, with focus on Automation, Digitalization and Telecommunications.
PANA Infrastructure is our latest entity which has entered a strategic partnership with SIEMENS to modernize and expand our country’s Power Infrastructure. Our vision is to become the reference platform across Sub-Saharan Africa across our extended list of offerings. Our mission is to deliver innovative and sustainable solutions through global linkages and partnerships which are consistent with our core values.
Integrity-Driven Operations
First, I would like to say that from day 1, our auditor has been PWC. As a company we have clearly defined values, a code of conduct, and ethical guidelines, because we believe they are fundamental to the success of business and decision-making. These are well established in our ethical framework. Secondly, we operate an open and honest communication policy to foster trust and accountability. We ensure all our employees are TRACE certified and go through regular training in business ethics and compliance. Let me also mention we have repeatedly received appreciation awards from FIRS for our transparency and compliance.
Also, as an ISO 9001: QMS certified company, we do what we document and document what we do. We are proud to be driven by an excellent management system and governance structure: all our business transactions and ventures are driven by what we call the 5P maxim: First is the Purpose for Sustainability – Focusing on long-term value creation and environmental responsibility. The second P is “Philosophy, Process and Technology”- Utilizing efficient systems and innovation for sustainable growth. The third P is “People and Talent” – because building strong teams and collaborative relationships is key for us. The fourth P is the “Product and Solution” that we present to the market and the last P is the end goal, i.e. Profit & Prosperity for all Stakeholders, Shareholders and Employees.
Core Values of PANA Holdings
Next to the 5P’s operating maxim which I mentioned earlier, our ethical code underscores PANA Holdings’ commitment to integrity, sustainability, and excellence. Our core values drive our culture and are embodied in the 3C’s and 3T’s principles. The 3C’s stand for “Character, Capacity, and Commitment” and the 3 T’s correspond to “Time, Transparency, and Trust”. These form the foundation of our operations, and the guiding principles in all our ventures, collaborations and recruitment processes.
Uniqueness of PANA Holdings in the Oil and Gas Industry
Our organization stands out in the Nigerian oil and gas industry through our comprehensive presence across various segments of the value chain, offering a broader scope of operations than many specialized companies. Central to our success is our 5P’s operating maxim, with a particular emphasis on “People and Talent.” This reflects our strong commitment to local development and collaboration, ensuring that we harness and nurture local expertise to drive our operations forward.
As a strategic global linkage, we play very important role in bridging the gap between international oil and gas players and the Nigerian market. This unique positioning allows us to facilitate the transfer of advanced technologies and global best practices while fostering significant capacity building within the local industry.
Contributions to the Local Content Initiatives
Our contributions to local content initiatives are multifaceted and deeply impactful. We have been at the forefront of job creation, offering numerous opportunities for Nigerian professionals across all levels of our operations. This is complemented by our extensive capacity building programs, driven by our PANA Academy, which equip local talent with the skills and knowledge required to excel in the oil and gas sector.
We are also committed to supply chain localization, actively supporting and developing local suppliers and contractors to meet industry standards and thrive within the global marketplace. Furthermore, our focus on technology transfer ensures that Nigerian firms and professionals are not just participants but leaders in the industry’s technological advancements.
A key testament to our dedication to elevating local content is our multi-million-dollar investment in the Centre of Excellence—our industrial hub designed to bring local content to the next level. This facility hosts the assembly of valves, metering and pump skids, control panels, and the execution of Factory Acceptance Tests (FAT), HIPPS overhaul and recertification and various other high-level services. This investment not only boosts local capabilities but also positions Nigeria as a critical player in the global oil and gas industry.
Major Challenges Affecting Business Growth and Expansion
One thing is inescapably true and that is, businesses in dynamic environments like Nigeria is expected to face a multitude of challenges, ranging from political, economic, social, technological, environmental and legal. Nigeria’s political landscape is dynamic, with policy changes, regulatory shifts, and government interventions has often affected business operations…. especially around election periods, with disruptions. Beyond currency volatility and inflation issues that make financial planning quite difficult, businesses must navigate a complex economic environment characterized by slow GDP growth, high unemployment rates, and limited access to finance. These have stifled business expansion and constricted market opportunities. Again, social issues, like high poverty levels, inadequate education systems that do not address our national problems, lack of skilled labor, pose major barriers to business growth in this country. Businesses often struggle to find the talent needed to drive innovation and expansion. On the technology side, there are opportunities, many Nigerian businesses face challenges in adopting and integrating new technologies due to infrastructure deficit, high costs, and poor technical know-how. It hinders competitiveness and growth in our rapidly digitizing global market, and this is one of the major gaps that we are positioned to bridge.
Today, climate change impact is threatening the world and the business ecosystem, we now have to navigate stringent environmental regulations and invest in sustainable practices, which is good, but costly and require significant changes to existing operations. Again, as a business, “Sustainability” is one thing we have deliberately put at the forefront of our entire portfolios to support in other businesses and the countries where we operate to decarbonize. We have promoted this through products and solutions, ranging from multiphase pump technology, for flare gas reductions to continuous and fugitive emissions monitoring, from pipeline leak detection to flare gas commercialization projects, waste heat recovery, electricity grid decarbonization, energy efficiency buildings, solar energy systems and storage and many more. On the legal side, as business, we don’t joke with legal and compliance. We do our business withing the ambience of law, because we know that legal uncertainties can lead to delays, increased costs, and risks that deter business expansion and reputations. And addressing these issues effectively do not only involve internal company strategies, but also collaboration with stakeholders across the public and private sectors to create a more stable and supportive business environment through compliance to legal, policy and regulatory frameworks.
The Journey So Far
From day one, we have been running with the mantra “Grace at Work”, and with integrity at the center of what we do, we have demonstrated resilience and adaptability. From inception, we had a global mindset, proudly bringing international best practices to the Nigerian business environment and carefully recruiting employees and associates on an international level, leveraging on the different perspectives that people from different cultures and backgrounds bring to our operations. Right now, we have over 150 employees from Nigeria, Uganda, UAE, India Mauritius, Greece, USA, UK etc.
The Future Goals for PANA Holdings
At PANA Holdings, our future goals for portfolio expansion are strategically aligned with the evolving needs of Nigeria’s economy and the global push toward sustainability and digital transformation. We are committed to advancing projects that not only drive business growth but also contribute to the long-term development of critical infrastructure and innovation across key sectors.
As mentioned earlier, we are placing a significant focus on expanding our portfolio in critical infrastructure, particularly in power generation and transmission. These projects are vital for supporting Nigeria’s industrial growth and by investing in advanced technologies and sustainable energy solutions, we aim to play a pivotal role in stabilizing and modernizing Nigeria’s power sector.
Another key area of expansion is sustainable urban design and the development of certified green buildings. We are committed to creating environmentally friendly and energy-efficient structures that align with global sustainability goals. These initiatives will not only reduce environmental impact but also set new standards for urban development in Nigeria.
In the financial services sector, we are focusing on the digitalization aspect, driving the adoption of cutting-edge technologies to enhance financial inclusion, efficiency, and customer experience. Our commitment to digital transformation extends to other critical sectors as well. We are actively engaged in Safety Lifecycle Management, which ensures for any company a systematic and automatic identification, assessment, and mitigation of risks throughout the entire lifecycle of a process or system, from design and implementation to operation and decommissioning, enhancing overall safety and reliability. This focus on digitalization and process optimization is particularly crucial in high-risk industries like oil and gas. In addition, through a seminal partnership with Infosys, we are spearheading digital transformation initiatives within the oil and gas sector in Nigeria. Our goal is to optimize processes, enhance operational efficiency, and reduce costs, positioning PANA Holdings as a leader in the digitalization of this critical industry.
In line with our commitment to energy security and sustainability, we are also expanding our exploration projects and gas field development activities both in Nigeria and other sub-Saharan countries.
Overall, I am happy that together with our strategy planning team, we are working on building a diversified, forward-looking portfolio that addresses critical infrastructure needs, embracing digital transformation, and supports sustainable development across Africa. Through these efforts, PANA Holdings aims to remain at the forefront of industry leadership, driving growth and contributing to the nation’s economic and social progress.
FIDELITY PENSION MANAGERS LIMITED: INTEGRITY-DRIVEN PFA, COMMITTED TO PRIORITIZING SOLUTIONS THAT DELIVER RESULTS MOST EFFICIENTLY
Donald Onuoha, Managing Director, Fidelity Pension Managers Limited
Fidelity Pension Managers Limited is a leading pension fund administrator in Nigeria, committed to delivering excellent services and ensuring the financial security of its clients. Driven with integrity, the organization’s management is focused on innovation, customer satisfaction, and regulatory compliance. It manages retirement savings accounts and provides personalized pension solutions to individuals and organizations.
Recognized by The Guardian as one of the Integrity-driven Firms in Nigeria, Fidelity Pension Managers Ltd MD, Donald Onuoha speaks on how the company is navigating the business challenges and pririotizing customer satisfaction.
Strategies for Operational Excellence
At Fidelity Pension Managers Limited, operational excellence is grounded in strategies that drive efficiency, customer satisfaction, and long-term competitiveness. We take pride in adhering to regulatory guidelines and upholding strong governance practices. Since our core focus is meeting the pension needs of our clients, we prioritize solutions that deliver results most efficiently. This includes leveraging technology through process automation, developing user-friendly platforms, and utilizing data analytics to offer personalized services, maintain clear communication, and implement a robust feedback system. Central to our success is the dedication we invest in our employees. Therefore, at Fidelity Pensions, retaining a highly trained and motivated workforce is always a top priority.
Impact of Economic Realities on Pension Remittances
The rising inflation and resulting economic hardship are impacting everyone. Many companies have had to downsize their operations due to reduced demand, leading to lower income. Some multinational companies have completely exited Nigeria, unable to cope with the rising dollar exchange rate. Consequently, unemployment has increased due to widespread retrenchments. This has significantly affected pension remittances in several ways: (1) Decline in Contributions: Fewer active workers mean reduced monthly pension fund remittances; (2) Increased Withdrawals: Retrenched workers can access up to 25% of their Retirement Savings Account (RSA), leading to higher outflows; (3) Decline in Pension Balance Accumulation: Lower contributions and increased withdrawals weaken long-term pension growth, affecting retirement payouts and the future quality of life for account holders.
Assessment of the Micro-Pension Scheme
At the outset of the transition to the Contributory Pension Scheme in Nigeria, the strategic goal of the government was to ensure that at least 30% of Nigeria’s workforce would be enrolled in the scheme by the end of 2024. However, a significant portion of Nigeria’s workforce is in the informal sector. A 2018 ILO estimate shows that 93% of all employment in Nigeria is informal. Therefore, it became crucial to prioritize expanding coverage to this significant segment of workers. However, this segment of the Nigerian workforce has certain peculiarities that distinguish them from formal sector workers. Of particular interest are irregular income and the general lack of access to social security benefits such as pensions, health insurance and paid leave. Given the limited access to financial resources, the growth of membership in the MPP has been rather slow. Five years since its advent, total industry membership of the scheme stands at 152,000 with AUM less than N800 million as of first quarter of 2024. The level of success recorded in the formal sector has not been replicated in the MPP. Nonetheless, we cannot discountenance the achievements recorded so far.
Deployment of Digital Technology
In our commitment to enhancing customer service, we have embraced technology and innovation. By automating most of our processes, we have significantly improved the speed and accuracy of our services. This has led to reduced human error and increased efficiency in processing pension contributions, record keeping, and benefits administration. Our digital platforms have also proven highly effective. With user-friendly mobile apps and web portals, contributors and retirees can easily monitor their pension accounts, request statements, and make contributions at their convenience. At Fidelity Pensions, we have made substantial investments in robust cybersecurity measures to protect sensitive customer data and maintain trust in our systems.
Projection for Return on Pension Asset Investment
Investment returns must always be assessed in context. Just as you can only harvest oranges from an orange tree, you cannot expect to reap pawpaw from an orange tree. Similarly, if we invest in specific asset classes, we can only expect returns aligned with those assets. To ensure a diverse stream of returns, we diversify our investment portfolios. This is why we don’t invest solely in one asset class but spread our investments across multiple allowable categories, including equities, fixed-income securities, alternative instruments, and money market instruments. All of our investments are grounded in thorough research. As long as we remain invested, we continually update
our knowledge of the investment landscape to confirm that our strategy remains justified. While diversification can help mitigate non-systematic risks (those unique to specific securities or asset classes), it cannot shield us from systematic risks. Systematic risks tend to impact all asset classes—positively or negatively—albeit to varying degrees. Through ongoing research, we identify assets that are either favoured by current economic conditions or less adversely affected by them. By positioning ourselves accordingly, we strive to maintain positive investment returns.
THEMS SECURITY SYSTEMS LTD: GUARDING WITH INTEGRITY, SERVING WITH HONOUR
As the dynamics of risks and security continue to change in our increasingly open world, Thems Security Systems Limited, a professional security guard services company in Nigeria retooled and restructured to enable society to secure assets and resources better.
With the world evolving dramatically with assets progressing from tangible to intangibles, cashless society, and emerging cyber and electronic security vulnerabilities, the dynamics of security risks and its control have to be one step ahead.
Thems Security has adapted to these changes by deepening its technical capacity and focusing on scaling its human capital assets to offer industry-leading expertise to an increasingly sophisticated clientele. This is reflected in its revenue, which has grown by more than 15% annually over the past six years, without mergers or acquisitions. In an interview with Charles Dare, Managing Director of Thems Security Sysytems, Dr (Amb) Ezekiel Isidahomen speaks about the core values that makes the company stand out in the safety sector…
“Thems Security Systems Limited is known for its integrity in operations and decision-making. We have implemented several measures to ensure that daily operational activities are integrity-driven. These include establishing a strong code of conduct and ethical policy, organizing training on integrity and ethics, conducting thorough background checks and vetting of employees, transparent and accountable decision-making processes, engaging with clients and stakeholders transparently and honestly, providing incentives for ethical behaviors, encouraging employee/client feedback and suggestions, and continuously reviewing and updating policies and procedures. These measures foster a culture of integrity and ethics, promote ethical decision-making, and reinforce industry standards and best practices.
The core values that have driven Thems Security Systems Limited over the years include honesty, transparency, and ethics. The company takes full responsibility for its actions and outcomes, prioritizes safeguarding people, assets, and interests, delivers high-quality services, and aims to exceed client’s expectations. also prioritizes client satisfaction, maintains professionalism, and ensures adherence to industry standards and best practices. Through these values, the company has built trust with clients and stakeholders, fostering a culture of accountability and responsibility.”
Enhancing Skills of Personnel Through Training and Latest Security Equipment
At Thems Security, we continuously enhance the skills of our personnel through training opportunities and the adoption of the latest security equipment. This includes regular training sessions, workshops, and seminars on the latest security techniques and technologies, attendance at industry conferences, enrollment in certification courses, regular on-the-job training, and mentorship programs for new recruits. We also provide hands-on training on the latest security equipment and collaborate with equipment manufacturers for training and technical support. There are numerous challenges facing the private security business in Nigeria, including regulatory challenges such as undue delay in license renewal, competition from unregistered and unlicensed/illegal companies engaging in undercutting prices, and challenges related to trust and credibility. To address these challenges, private security companies in Nigeria should advocate for stricter enforcement of regulations, educate clients on the benefits of employing licensed and registered security companies, and report unregistered and unlicensed operations to the appropriate authorities. Additionally, businesses are encouraged to establish transparent and accountable business practices and engage in community education to mitigate the challenges related to trust and credibility.
Thems Security Systems Limited is a professional security guard services company in Nigeria. The company has restructured to adapt to changing security risks and technology, focusing on integrity, ethics, and client satisfaction. To ensure integrity-driven operations, the company has implemented measures such as a strong code of conduct, ethical training, and transparent decision-making processes. Thems Security continuously enhances personnel skills through training and the adoption of the latest security equipment.
Challenges
Challenges facing the private security business in Nigeria include regulatory issues, competition from unregistered/illegal companies, and trust and credibility concerns. To address these, advocating for stricter enforcement of regulations, educating clients, and establishing transparent business practices are essential. Private security firms should invest in non-lethal technologies and training and also collaborate with state security agencies for support.
Collaboration Between Private Security Firms And National Security Agencies
The collaboration between private security firms and national security agencies, especially the police, can significantly help in addressing crime in Nigeria. It is essential for private security firms to gather and share information on criminal activities with the police to enhance their understanding of crime patterns. Private security firms have extensive networks and closer relationships with local communities, which allows them to gather information in real time and respond quickly to incidents, thus aiding in joint operations with the police.
Additionally, private security firms can provide financial resources to enhance police capabilities and offer specialized skills such as forensic analysis and cybercrime investigations. However, challenges such as trust, communication, and conflicting interests must be addressed to ensure successful collaboration.
The Nigeria Security and Civil Defense Corps (NSCDC) has performed well in licensing and regulating private security firms, despite limited resources. However, delays in the licensing application process due to inadequate staffing and financial resources are hindering its effectiveness. NSCDC has clear guidelines and regulations for private security firms and conducts monitoring and inspections to ensure compliance. It also investigates allegations of misconduct and prosecutes offenders in collaboration with relevant authorities.
The security industry is experiencing unprecedented growth due to rising concerns about global instability, insecurity, and cyber threats. As a prominent security solutions provider, Thems Security Systems Limited has significant growth prospects in expanding its portfolio to meet the increasing demand for effective security measures.
Assessing the Performance of NSCDC
The Nigeria Security and Civil Defense Corps (NSCDC) has managed to perform well in licensing and regulating private security firms, despite limited resources. However, there are delays in the licensing application process due to inadequate staffing and financial resources, which are hindering its effectiveness.
The security industry is experiencing unprecedented growth driven by rising concerns about global instability, cybersecurity threats, and the need for advanced protective measures. Thems Security Systems Limited has significant growth prospects in expanding its portfolio to meet the increasing demand for effective security measures.
PETRO EXTRA ENERGY SERVICES LTD: ENERGIZING WITH ETHICS, EXCELLENCE, AND EXPERTISE
Engr. John Eebu Yowika, MD/CEO, Petro Extra Energy Services Limited
As a Nigerian company built on the principles of trust, transparency, and accountability, Petro Extra Energy Services Limited the brainchild of Engr. John Eebu Yowika, is dedicated to delivering exceptional services and solutions to its clients. With a strong commitment to safety, quality, and environmental sustainability, the company strives to exceed expectations and set new standards in the oil and gas sector. Its team of experts is passionate about creating value and making a positive impact in the communities it serves.
In this special report, the astute CEO talks about the tremendous success recorded in the oil and gas industry and the new projects ahead. Excerpts…
“Petro Extra Energy Services Limited has been a party to the Nigerian Content initiative of the government of Nigeria right from the conception, formulation, enactment and implementation. We have an unreserved passion to see the actual manifestation and positive impact of this laudable initiative on the Nigerian economy.
In this regard, as a wholly indigenous company, we are responsible for the complete execution of the scope of work except in instances where expatriate personnel are specifically required as contract staff for the work. We execute the contract to have no recordable incident or injury, communicating to its staff and contractors the concept of “accident-free” that no task is worth completing at the expense of safety.
By our structure, we guarantee that the percentage of total spend, man-hours stipulated in the NOGICD Act would be domiciled in-country. Our Contracting policy shall allow first consideration contract awards to Nigerian/community contractors as far as they possess the capability to carry out such projects.
In terms of workforce, we regularly trained to become globally certified personnel using renowned technology proprietary owners as we aim to deliver safe, high-quality, and value-driven services using the best local resources and professionalism.
We are committed to establishing a sustainable and continually improving our capacity to provide predictable and quality services to our clients while concurrently fostering lasting relationships with professionals, government bodies, trade contractors and suppliers.
Company Driven by Integrity
We have approved procedures in place that cover critical areas of our operations, these procedures are in line with industries best practises and conforms to regulatory standards. Our company is also certified making our establishment able to favourably compete with other international establishments. Currently, we are handling maintenance services in equipment, plant and firefighting equipment, and facility maintenance for some multinationals and indigenous Oil & Gas exploration service companies.
Company’s Approach to HSE Management
We are committed to giving priority to Health, and Safety of our personnel and that of other persons directly or indirectly affected by our operations. Our activities are conducted in a manner that causes no harm to the environment. We also insist that all our contractors and sub-contractors exhibit the same determination and commitment.
We have a policy that we believe wholeheartedly will guarantee quality and high productivity. All our business operations are organized, planned and executed with the highest level of consideration to HSE:Our approach to HSE is also tailored to suit oil exploration, geophysical industries and environmental agencies’ accepted standards on health, safety and environmental policies.
Major Challenges in the Industry
The nature of our services warrants that we have access to foreign currencies regularly in our operations, for procurement purposes from foreign OEMs.
In cases like bidding processes, you find out that after the submission of quotes for a bid and after the process of bid evaluation to the execution stage, the forex rate at the time of bidding, sometimes skyrockets, leaving a negative impact on the project cost. This is part of our current major challenges.
Expansion and Growth
Shortly, we intend to increase our current services to accommodate more demands in the industry, we also aim to start manufacturing some core materials and equipment required in the industry but not readily available in the country. We currently are in talks with some foreign companies in this regard and so far, we are advancing well.
“OUR BUSINESS IS A CATALYST FOR GROWTH, DEVELOPMENT, AND TRANSFORMATION”
In a world characterized by complexity and constant change, the importance of trust cannot be overstated. Omasup Energy Services Ltd is steadfast in its commitment to both earning and upholding the trust of our clients, which it achieves through an unwavering dedication to integrity and ethics.
The foundation of its business practices lies in a strong moral compass, with the recognition that ethical conduct and uprightness are indispensable in fostering trust, realizing success, and effecting positive change.
This exclusive report features insights from the Group Managing Director, Mr Omagoro Umuno Prosper highlighting the pivotal role of integrity in the daily business operations of Omasup Energy Services Ltd.
Additionally, the report addresses the prevalent challenges within the oil and gas industry and underscores the notable successes achieved thus far. Excerpts are included for reference.
What is the mission and vision of Omasup Energy Services Ltd?
At Omasup Energy Services Ltd, we’re passionate about building a sustainable business that makes a real difference in the oil and gas industry. Our mission is to drive inclusive growth, support vital causes like healthcare, education, and environmental sustainability, and contribute to the well-being of our communities. We’re committed to understanding and managing our social, environmental, and economic impact, and our core values guide everything we do. We’re dedicated to creating a better future for all, and we’re excited about the role we can play in shaping a more sustainable energy landscape.
Omasup Energy Services Ltd is a stakeholder in the oil and gas sector, what core values have driven the company over the years?
At Omasup Energy Services Ltd, we’re not just an oil and gas company – we’re a force for positive change. We’re driven by a fierce commitment to sustainability, social responsibility, integrity, excellence, innovation, and community engagement. We believe that energy and environmental stewardship go hand-in-hand and that our business can be a powerful catalyst for growth, development, and transformation. Our values aren’t just words on a page – they’re a call to action that guides everything we do. Our impact may start small, but our ambition is vast. We’re committed to making a difference that resonates, inspires, and leaves a lasting mark on the world.
Can you share with us the measures taken to ensure daily operational activities are integrity-driven?
Ensuring integrity-driven daily operational activities is the foundation of our success at Omasup Energy Services Limited (OESL). Our pioneering ‘OESL Cultural Wheel & Management System’ sets the standard for excellence in every aspect of our business. This dynamic framework seamlessly integrates eight key elements: Leadership Commitment, Standards/Policies, Organization Process Management, Risk Management, Measure and Learn, Audit & Assessment, Resource Management, and Third-Party Management. Think of it as a precision-crafted wheel, where each element connects to the centre, embodying our core values: Manage, Enhance, and Innovate. Each element is intentionally designed to be interconnected, interdependent, and mutually reinforcing, enabling a comprehensive and holistic approach to management. This means every element can be managed, enhanced, and innovated upon, fostering a culture of continuous improvement, excellence, and accountability. Our Cultural Wheel is more than a management tool – it’s a beacon of our commitment to integrity, transparency, and collaboration. It empowers our team to strive for excellence, drives decision-making, and fuels innovation. At the heart of our system lies our Control Center, the engine of transformation and progress, where we pioneer groundbreaking solutions that redefine industry standards and drive sustainable growth.
As a player in the Nigerian oil and gas industry, what makes your organization unique?
What makes Omasup Energy Services Ltd truly unique? It’s our strategic collaboration, commitment to redefining industry standards, and relentless pursuit of perfection. We don’t operate in isolation – we partner with internal and external experts to leverage the best insights and innovations. This collaborative approach ensures every project benefits from a wide range of expertise, driving exceptional results. We’re not just meeting industry standards – we’re setting new ones.
Our operations are built on a pursuit of perfection, where precision and passion combine to deliver groundbreaking solutions. Innovation is at our core. We break free from traditional constraints to provide cutting-edge solutions that solve real customer problems. Our motto, ‘Your Innovation and Research Partner,’ reflects our commitment to integrating solution research with advanced technology. Agility is key to our success. We avoid bureaucratic red tape to swiftly adapt to changes and meet evolving market demands with unmatched efficiency. Our expertise spans the entire energy value chain, from advanced well engineering to innovative midstream solutions. This comprehensive approach ensures success at every stage, pushing the boundaries of what’s possible.
To what extent would you say your company has contributed to the local content initiative?
Our commitment to local content is at the heart of everything we do at Omasup Energy Services Ltd. As a 100% local Nigerian company, we’re dedicated to making a positive impact in the communities we serve. For us, local content is more than just a requirement – it’s a business imperative. We prioritize hiring and developing Nigerian talent, ensuring our workforce reflects the communities we serve. This approach drives job creation and builds a skilled workforce in Nigeria. But our commitment to local content doesn’t stop at Nigeria’s borders. In every West African country where we operate, we incorporate as a local entity, becoming an integral part of the local economy. We empower local businesses and professionals, integrating them into our operations and supply chain.
So, how do we approach local content? We: Forge local partnerships, collaborating with local businesses to strengthen the regional industry. Source materials and services locally, keeping project value within the local economy. Invest in community development, supporting local infrastructure, education, and healthcare. Build local capacity, training and developing professionals to lead the next generation of industry leaders In short, our presence is designed to contribute meaningfully to the regions we serve. We’re not just operating in these communities – we’re invested in their success.
Can you share some of the major challenges in the industry?
Firstly, infrastructure deficiencies are a major headache, hindering the efficient distribution of crude oil and refined products. Inadequate pipelines, storage facilities, and transportation networks are a significant bottleneck. To address this, we need to upgrade critical infrastructure like the Trans Niger Pipeline and Bonny-Port Harcourt crude oil pipeline. Furthermore, regulatory and compliance issues pose another challenge. The industry struggles with complex and frequently changing regulations like the Petroleum Industry Act (PIA) 2021, which aims to promote local content and environmental protection. While we recognize the importance of these regulations, ensuring compliance can be costly and time-consuming. Therefore, we believe collaboration between industry stakeholders and regulators is essential to balance regulatory requirements, operational efficiency, and the need to protect the environment and promote local content. In addition to these challenges, security concerns are a significant risk that requires a comprehensive approach. Addressing them goes beyond just protecting personnel and assets; improving the local community is a critical aspect of enhancing security. By engaging with the community and addressing their needs, we can build trust and foster cooperation. This includes investing in social programs, providing economic opportunities, and supporting local development initiatives.
Consequently, we can create a more stable and secure environment that benefits our operations and the community. Moreover, operational costs are high, impacting profitability, and the industry must balance costs while maintaining efficiency. To achieve the Nigerian Content Development and Monitoring Board’s (NCDMB) targets, significant investment is required to develop local suppliers and businesses. However, traditional selective programs may not be enough to bring about the best innovative ideas. Instead, we suggest that government grants and funding be available to a wider range of innovators and entrepreneurs, allowing for a more inclusive and competitive approach to driving innovation and growth.
Similarly, environmental and social impact is another critical area that requires attention. The industry faces pressure to minimize environmental damage and enhance social responsibility. Investing in sustainable practices and community engagement is crucial to achieving this goal. Lastly, market volatility affects profitability, requiring adaptability. Fluctuating global oil prices and local economic conditions, including the impact of COVID-19, demand a responsive approach. In summary, addressing these challenges requires a comprehensive approach, collaboration with stakeholders, and continuous adaptation to ensure the sector’s success and sustainability.
What are the projections for the years ahead in portfolio expansions and business growth?
We’re excited about our prospects at Omasup Energy Services Ltd. In the short term, we’re focusing on expanding our service lines and regional presence in Africa. We’re also investing in technology and strategic partnerships to enhance our capabilities. Looking ahead, we aim to become a leading oil and gas servicing company in Nigeria and a respected player in the region. We’re committed to sustainable growth, balancing economic, social, and environmental considerations. Our goal is to support our client’s needs across the energy value chain while maintaining our commitment to excellence and innovation.
ROMAX PROPERTIES LTD: REDEFINING STANDARDS WITH INTEGRITY
In the ever-evolving landscape of Nigeria’s real estate sector, Romax Properties Limited is making waves with its dedication to integrity, innovation, and customer-centric approach. The reputable real estate company has established itself as a beacon of excellence, delivering high-quality residential and commercial solutions that exceed client expectations. With a strong commitment to sustainability and community development, the company is not just building structures, but fostering a better future for generations to come.
In this interview granted in response to Romax Properties’ recognition as an Integrity-Driven Firm in Nigeria, its vision-driven Managing Director, takes us through the organisation’s core values, achievements, and the ambitious plans of the fast growing real estate company.
What is the mission and vision of Romax Properties Ltd?
Mission: Romax Properties Ltd is committed to delivering innovative, sustainable, and quality real estate solutions that exceed client expectations, enhance communities, and contribute to the overall development of Nigeria’s housing sector.
Vision: To be a leading real estate company in Nigeria, recognized for our commitment to integrity, excellence, and innovation while contributing to the growth and development of the Nigerian economy.
As a highly reputable company delivering exceptional real estate development and management services, what core values have driven the company over the years?
The core values that have driven Romax Properties Ltd over the years include:
Integrity: We are committed to conducting all business activities with honesty, transparency, and ethical responsibility.
Excellence: We strive for the highest standards in all aspects of our work, from project planning and development to customer service. Innovation: We embrace creativity and innovation in our approach to real estate development, ensuring we deliver modern and sustainable solutions.
Customer Satisfaction: Our clients are at the heart of everything we do, and we work tirelessly to meet and exceed their expectations. Sustainability: We are dedicated to promoting sustainable development practices that positively impact the environment and society.
Can you share with us the measures taken to ensure daily operational activities are integrity-driven?
To ensure our daily operations are driven by integrity, Romax Properties Ltd implements the following measures: Transparent Processes: We maintain transparency in all our transactions from project development to sales. Our clients are provided with all necessary information at every stage. Ethical Training and Development: We invest in continuous training for our staff to reinforce ethical behaviour and integrity in all business dealings. Client Feedback Mechanisms: We actively seek and value feedback from our clients to ensure we maintain high ethical standards and address any concerns promptly.
As a player in the Nigerian real estate industry, what makes your organization unique and to what extent would you say your company has contributed to housing development?
Romax Properties Limited is unique in the Nigerian real estate industry due to our unwavering commitment to quality, innovation, and customer satisfaction. We have consistently delivered high-quality housing solutions that meet the diverse needs of our clients, from affordable homes to luxury residences. Our contribution to housing development in Nigeria is significant, as we have: Developed Multiple Residential Estates: We have successfully developed several residential estates across Lagos, providing modern and sustainable housing options to thousands of families. Empowered Local Communities: Through our projects, we have created job opportunities and empowered local communities, contributing to economic growth and social development.
How do you think quacks in the system can be eradicated?
Eradicating quacks in the real estate industry requires a multi-faceted approach: Public Awareness Campaigns: Educating the public on the dangers of dealing with unlicensed agents and the importance of verifying the credentials of real estate professionals can help reduce the influence of quacks.
What are the projections for the years ahead in the area of portfolio expansions and business growth?
Romax Properties Ltd has ambitious plans for the future. Our projections include Expansion into New Markets: We plan to expand our footprint beyond Lagos and other key Nigerian cities. Diversification of Property Portfolio: We aim to diversify our property offerings, including the development of commercial real estate, mixed-use developments, and affordable housing projects. Investment in Technology: We will continue to invest in cutting-edge technology to enhance our operations, improve customer experiences, and streamline processes. Sustainability Initiatives: Our focus on sustainable development will remain a priority, with plans to incorporate more green building practices and renewable energy solutions in our projects.
ROMAX PROPERTIES LTD: REDEFINING STANDARDS WITH INTEGRITY
In the ever-evolving landscape of Nigeria’s real estate sector, Romax Properties Limited is making waves with its dedication to integrity, innovation, and customer-centric approach. The reputable real estate company has established itself as a beacon of excellence, delivering high-quality residential and commercial solutions that exceed client expectations. With a strong commitment to sustainability and community development, the company is not just building structures, but fostering a better future for generations to come.
In this interview granted in response to Romax Properties’ recognition as an Integrity-Driven Firm in Nigeria, its vision-driven Managing Director, takes us through the organisation’s core values, achievements, and the ambitious plans of the fast-growing real estate company.
What is the mission and vision of Romax Properties Ltd?
Mission: Romax Properties Ltd is committed to delivering innovative, sustainable, and quality real estate solutions that exceed client expectations, enhance communities, and contribute to the overall development of Nigeria’s housing sector.
Vision: To be a leading real estate company in Nigeria, recognized for our commitment to integrity, excellence, and innovation while contributing to the growth and development of the Nigerian economy.
As a highly reputable company delivering exceptional real estate development and management services, what core values have driven the company over the years?
The core values that have driven Romax Properties Ltd over the years include:
Integrity: We are committed to conducting all business activities with honesty, transparency, and ethical responsibility.
Excellence: We strive for the highest standards in all aspects of our work, from project planning and development to customer service. Innovation: We embrace creativity and innovation in our approach to real estate development, ensuring we deliver modern and sustainable solutions.
Customer Satisfaction: Our clients are at the heart of everything we do, and we work tirelessly to meet and exceed their expectations. Sustainability: We are dedicated to promoting sustainable development practices that positively impact the environment and society.
Can you share with us the measures taken to ensure daily operational activities are integrity-driven?
To ensure our daily operations are driven by integrity, Romax Properties Ltd implements the following measures: Transparent Processes: We maintain transparency in all our transactions from project development to sales. Our clients are provided with all necessary information at every stage. Ethical Training and Development: We invest in continuous training for our staff to reinforce ethical behaviour and integrity in all business dealings. Client Feedback Mechanisms: We actively seek and value feedback from our clients to ensure we maintain high ethical standards and address any concerns promptly.
As a player in the Nigerian real estate industry, what makes your organization unique and to what extent would you say your company has contributed to housing development?
Romax Properties Limited is unique in the Nigerian real estate industry due to our unwavering commitment to quality, innovation, and customer satisfaction. We have consistently delivered high-quality housing solutions that meet the diverse needs of our clients, from affordable homes to luxury residences. Our contribution to housing development in Nigeria is significant, as we have: Developed Multiple Residential Estates: We have successfully developed several residential estates across Lagos, providing modern and sustainable housing options to thousands of families. Empowered Local Communities: Through our projects, we have created job opportunities and empowered local communities, contributing to economic growth and social development.
How do you think quacks in the system can be eradicated?
Eradicating quacks in the real estate industry requires a multi-faceted approach: Public Awareness Campaigns: Educating the public on the dangers of dealing with unlicensed agents and the importance of verifying the credentials of real estate professionals can help reduce the influence of quacks.
What are the projections for the years ahead in the area of portfolio expansions and business growth?
Romax Properties Ltd has ambitious plans for the future. Our projections include: Expansion into New Markets: We plan to expand our footprint beyond Lagos and other key Nigerian cities. Diversification of Property Portfolio: We aim to diversify our property offerings, including the development of commercial real estate, mixed-use developments, and affordable housing projects. Investment in Technology: We will continue to invest in cutting-edge technology to enhance our operations, improve customer experiences, and streamline processes. Sustainability Initiatives: Our focus on sustainable development will remain a priority, with plans to incorporate more green building practices and renewable energy solutions in our projects.
