As the oil and gas industry experiences one of its most challenging periods with global oil prices in an all-time low, industry practitioners and stakeholders are increasingly getting worried what the future holds for Nigeria which derives 80 per cent of its national income from the sector.
An April 2015 International Monetary Fund World Economic Outlook projected that the slump in crude oil prices will have a severe impact on the Nigerian economy as well as other oil producing countries in the continent in 2015. Growth was put at 4.5 per cent from five per cent in 2014.
Already the impact is being felt first hand with dwindling revenue and the continuous fall of the Naira leading to calls for it to be devalued a record third time within six months.
Several state governments, who were hitherto unable to pay salaries, just got bailout funds for payment of salaries of workers. While analysts are suggesting that the Federal Government, make some adjustments in its fiscal policies as well as strengthen the diversification of the economy from its dependence on oil, the Robert Gordon University (RGU) believes that oil and gas will continue to play a key role in meeting the primary energy needs in the world and will do so for decades to come.
Speaking during a recent formal launch of the institution’s Aberdeen-based Oil and Gas Institute in Nigeria at the British Deputy High Commission in Lagos, the Director of RGU’s Oil and Gas Institute, Professor Paul de Leeuw said the world demand for oil and gas will increase substantially over the next few decades and Nigeria will have a key role to play in providing that need.
“While recognising the current issues in the oil sector, there is a general consensus from independent analysts such as the International Energy Agency that the world demand for oil and gas will increase substantially over the next few decades. Nigeria has substantial oil and gas resources, both onshore and offshore and will need the appropriate future skills and capabilities to develop these,” he said.
In its efforts to build strong links with Nigeria, the RGU is committed to develop the next generation of oil and gas professionals to explore its significant deep water potential by launching the RGU Oil and Gas Institute.
Meanwhile, Sunday Telegraph learnt that RGU has been working successfully in partnership with Nigeria for over 25 years with a network of agents across Nigeria, including an in-country representative since May 2014 and a large RGU Alumni community, many of whom are in key roles in the industry and government.
The creation of the RGU Oil and Gas Institute is aimed at leveraging the capabilities of an internationally recognised institution to address specific industry challenges and will focus on providing world class capabilities in the areas of drilling & wells, asset management, subsea, business excellence and decommissioning which are areas highly relevant to the Nigerian oil and gas industry.
Prof. de Leeuw disclosed that currently around 750 Nigerian students are studying at the university, either on a full time, a part time or distance learning basis with over 4000 Nigerian students having completed studies in different disciplines over the last 10 years.
“Of the around 750 students currently at RGU, approximately 50 receive full scholarships through our close relationship with scholarship bodies in Nigeria.
In addition, 100 students benefit from RGU’s partial merit scholarships (which recognises students’ achievement in their prior studies) every year.
RGU also has a great track record of delivering this for the North Sea and other similar basins around the world and we feel we have a key role to play in Nigeria as well. “We want to ensure a strong dialogue with oil and gas stakeholders in Nigeria to ensure that we can respond to their particular needs,” Prof. de Leeuw said.
To further demonstrate its commitment to providing excellence to the Nigeria oil and gas industry, the RGU strengthened its links with Nigeria in July 2014 by signing a partnership agreement with Ahmadu Bello University (ABU) a federal state research university, Zaria and the Yobe State University, Damaturu.
“ABU is one of the largest universities in the North of Nigeria and this agreement was the result of visits by RGU academics Professor Alex Russell and Dr Labaran Lawal to investigate how both universities could benefit from collaborative activity.
The Vice Chancellor from ABU, Professor Abdullahi Mustapha visited RGU’s Garthdee campus with three other highly placed staff of ABU to represent the commitment of both universities to cooperate across a range of courses and activities. A similar MOU has also been signed with Yobe State University in Damaturu. RGU will also be looking at other collaborations in the future,” he said.
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