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Expert urges FG to create enabling environment for oil, gas investment   
Expert Encourages FG to Establish Enabling Environment for Oil and Gas Investment
Expert Encourages FG to Establish Enabling Environment for Oil and Gas Investment
– By Daniel Terungwa

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Expert Encourages FG to Establish Enabling Environment for Oil and Gas Investment.

Mr. Usman Mohammed, the Chief Executive Officer of New Energy Services Company Ltd., said, “The market is not waiting for Nigeria, hence contract projections, especially revenue are mostly impacted due to delays in the series of layers involved in approval processes.”

He added, “The operating environment in Nigeria is not too friendly for businesses. A bid that is submitted in January cannot be implemented successfully in the next one month because of disruptions in the foreign exchange market.”

Mr. Usman Mohammed, the Chief Executive Officer of New Energy Services Company Ltd
Mr. Usman Mohammed, the Chief Executive Officer of New Energy Services Company Ltd

Mohammed lamented, “We have a particular bad experience. There is a contract that we have been on same for about five years. We have made payment to the Original Equipment Manufacturer (OEM). But up till now, we have not signed the contract. We have also lost some monies to bank in the process of this long wait.”

Speaking about environmental sustainability, he stated, “For our Port Harcourt workshop, we have drastically reduced the level of emissions into the environment by about 40 per cent through the use of solar to generate electricity.”

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Regarding the company’s operations, Mohammed mentioned, “The firm also carries out similar or other services for TotalEnergies, Baker Hughes, Aveon Offshore, Bw Offshore and other operators in the industry.”

He concluded by saying, “The vision of the company is to be the leading and preferred integrated energy company, globally recognised for competence, character and commitment. Its mission is to be the foremost provider of bespoke EPC and facility management services with accountability of efficient maintenance and project management.”

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