₦airaland Forum

Human life is only so ordinary. For any individual that overextends themself in the pursuit of power, much disappointment is lying in wait. Such is the case of former Rivers State governor and Minister of Transportation, Rotimi Amaechi. After several months of apparent rest, it appears as if all attempts to emerge as a phoenix from obscurity proved unsuccessful.

Critics are currently exhausting themselves as they scrutinise the life and times of Amaechi. Believed to be locked in a cave of self-examination and futile but reserved repentance, the former power broker from Rivers appears to have resigned to his new fate.

Since losing his political mandate to the current President of Nigeria, Bola Tinubu, Amaechi has virtually disappeared into obscurity. Initially assumed to be crouching so that he can spring back to political relevance, Amaechi remains inactive, leading attentive folks to think that he has reached the end of his rope.

Many would recall the glory and grace of Amaechi at his peak. Even before coming to the national scene, he wielded great authority in Rivers and handled everything with absolute domination, never retreating from a fight. This attitude intensified when he became the Minister of Transport, so much so that he is thought to have attempted to wrestle with his governorship successor, Nyesom Wike, for the position of Number One Rivers Person.

Critics of Amaechi will quickly point out scores of formerly high-ranking government officials that he booted out of power to pave the way for members of his coterie. Alas, those days are gone and may never return.

At least, this is the overwhelming belief. And if it so happens that Amaechi is only on a political holiday and will eventually find his way back to the top, well, he would have been left behind by former peers, all of whom are currently working their way to the top.

“As a patriotic association, we are also asking Oando Plc, you are buying Agip what is your development plan? because the future of our members depends on that company, if the company folds, then our members will go home.
“If we are not satisfied with the plan, we will say pay us our obligations, we do not want to be transited into Oando Plc, pay us our benefits. I have worked for you for 25 years or 30 years, pay me my severance and let’s discuss a special separation package so that I go. If I now want to join Oando, it would be based on my discretion; anything I see I will take, but the years I have put in Agip, NAOC must settle me.”

The workers have reportedly started actions, including prayer sessions, at the facilities.[/quote]Lol.

https://businesspost.ng/economy/oando-eni-deal-workers-threaten-to-shutdown-operations/

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has vowed to down tools and shut down all oil field locations if demands following the acquisition of Nigerian Agip Oil Company (NAOC) are not met.

Business Post had reported in September that Oando Plc had acquired a 100 per cent stake in the Nigerian subsidiary of Italian giant, Eni.

However, the deal allegedly happened without management addressing the welfare and benefits of the workers and without due process.

The development has led to several protests by members of PENGASSAN since the beginning of September 2023.

Speaking on the next course of action, the National President of PENGASSAN, Mr Festus Usifo, announced that due process must be followed by NAOC, and workers will not be rolled over to Oando Plc, without adequate development plan or severance package for those who have laboured so many years for Agip.

Speaking during a recent television interview, he explained that some of its members have worked for Agip for over 30 years and some were at the point of retirement, and may just want to be paid their severance package to go home.

“What we are doing now is conversation, consultation and discussion with the Agip management of Agip. If they insist on not complying with the right thing, of course, they know the consequences, because we will withdraw our members from the respective field locations.

“The question is, the liabilities that have been incurred by Agip; the pension, gratuity you are supposed to pay these people does Oando Plc have the financial wherewithal to be able to meet these financial obligations to our members?

“As a patriotic association, we are also asking Oando Plc, you are buying Agip what is your development plan? because the future of our members depends on that company, if the company folds, then our members will go home.

“If we are not satisfied with the plan, we will say pay us our obligations, we do not want to be transited into Oando Plc, pay us our benefits. I have worked for you for 25 years or 30 years, pay me my severance and let’s discuss a special separation package so that I go. If I now want to join Oando, it would be based on my discretion; anything I see I will take, but the years I have put in Agip, NAOC must settle me.”

The TUC President further disclosed that indigenous oil firms do not have the capacity to manage and sustain production like the international oil companies, who according to him, inject funds into managing their assets.

He emphasised that Agip must sit down and have a conversation with their members (oil workers) working in the oilfields and locations, as well as ensure their demands are met.

“When the IOCs were managing most of these assets, they had the funds to inject into it for a sustained production, which I know will be the real challenge we would be having now, and these are the discussions we are also fronting with Oando, especially operations like stimulation and well enhancement so that the wells will not start declining.

“We have people who are working in the oilfields and locations; you can not bring people who are dissatisfied to be running your assets it does not work like that. So who is going to run these locations? Is it the management of Oando Plc that will just come there and start pressing the buttons? No, you need these employees. So you must sit down and have a conversation with them.”

The workers have reportedly started actions, including prayer sessions, at the facilities.

https://leadership.ng/oando-targets-growth-with-eni-acquisition-deal/

Oando Plc, said it has reached an agreement with Eni, an Italian multinational energy company for the acquisition of 100 per cent of the shares of the Nigerian Agip Oil Company (NAOC).

Eni has been present in Nigeria since 1962 through its subsidiary NAOC, the operator of OMLs 60, 61, 62 and 63.

Recall that in 2014, Oando acquired ConocoPhillips’ Nigerian assets, giving the company a 20 per cent working interest in the NAOC Joint Venture which also includes the NNPC Exploration & Production Limited (NEPL) and NAOC.

This singular transaction at the time catapulted Oando from producing 4.5kboepd to 50kboepd. At the same time the company set a target to increase its production to 100kboepd and its reserves to 500MMboe as well as realise operatorship.

As of 2021, Oando had exceeded its reverse target with 2P reserves of 503.3MMboe.

Here we go again on Oando.

Buyers beware...

Negroid001:
Nigerians aren't exposed. Even with the moral norms. We're going down the drain rapidly.

Happy a married man with kids has proved ya'll wrong.

He has proved nothing

ndidibabe:
No go face Ur life

Na your book I want face.

yarimo:
Hehehe TINUBU is teaching ATIKU what is politics and how to make your opponent and illiterate supporters busy. Even Jonathan played ATIKU like ludo

in a Nigerian corrupt university of UNIPORT.
This is different.

Surprised how Nigerians celebrate absurdity because of ethno-religious partisanship.

finallybusy:
Imagine how Nigeria will be if all the wealthy emigrate.

Not asking how Nigeria will be. Asking why the wealthy prefer not to migrate. If you think it is because of their love for Nigeria. Nope.