…. Over $113Million assess under ExxonMobil Nigeria Contractor Finance Scheme
The Chairman, ExxonMobil Nigeria Unlimited, Mr Paul McGrath, has thrown his weight behind local content development in Nigeria, saying that ExxonMobil was passionate about local content development.
McGrath, gave the assurance on behalf of the company on its support to local content development in the country during a Spotlight session at the just concluded 7th Practical Nigerian Content Conference organised by the Nigerian Content Development and Monitoring Board (NCDMB) in Uyo, Akwa-Ibom State.
He said, ‘Am very passionate about local content development in Nigeria, stand here before you today, is an example of local content.
“Local content and development of local content is so important to me and also ExxonMobil is concern in deepen Nigeria content in our industry.
“ ExxonMobil gives first consideration to local produced companies in Nigeria. We have been at the forefront of local content development in Nigeria.
“ Nigeria local content is a moral obligation and is good for business because in Nigeria we have highly and semi skilled workforce which we give total support to at all categories.
“When we talk about practical Nigeria content and implementation of local content, ExxonMobil has been at the vanguard.”
McGrath said that the company was one of the country’s highest producers of crude oil, accounting for almost 600,000 barrels per day of crude, condensate and natural gas liquids, which joint venture operation is over 90 offshore platforms from its Qua Iboe terminal operations area in Akwa Ibom State, comprising about 300 producing wells.
He said that ExxonMobil company which had been in Nigeria for over 40 years with track records, operates a world class facility in the country and also looks forward to boost its crude oil production.
The company’s boss said that the company was committed to growing its production in Nigeria safely and with much integrity.
McGrath, also the managing director said the company had made tremendous impact on nation’s economy in the past 54 years of operation and would continue to invest for many more years to come.
He said that the company had invested massively on human development, and human development which was very significant in bringing about competition for national growth.
According to McGrath, the Exxonmobil has invested massively on host community and other communities outside our operations.
He added that ExxonMobil had also invested on community development in area of education and infrastructural development, while ensuring sustainability on the long time benefit.
“ ExxonMobil has helped to facilitate assess to funding to numbers of local companies in Nigeria, there are number of Nigeria banks that work with us.
“Over 113 million dollars has been assess so far out of 975 million dollars available, under the ExxonMobil Nigeria Contractor Finance Scheme (EMNCFS), that was initiative in partnership with some Nigerian banks. Also, that offers competitive financing options to local company’s business partners in Nigeria.
“The EMNCFS is targeted at Nigerian vendors seeking access to better funding options to fulfill ExxonMobil awarded contracts and procurement orders.
“Loan processing times will also be significantly reduced due to upfront definition of eligibility criteria by the banks because if the funding was not available to Nigerian contractor they will not be in business,’’ McGrath added.
He said that over 700 graduates had benefited from the company’s skilled training, which majority of them has been employed by various oil and gas companies in Nigeria.
McGrath also said that the company had a world class technical training centre in Akwa-Ibom which was established in 1995, adding that it also confirmed to international best practice standard.
The managing director added that the company has also developed potentials in world class engineering organization, adding that it has partner with local engineering companies in Nigeria like Delta Afrik to developing and nurture quality engineering work.
He said that the ExxonMobil also geared towards ensuring the developing sustaining plans with local companies in Nigeria, quality engineering in Nigeria had increased by 90 per cent in the last four years.