Okwe Obeka is a seasoned professional who is making a wave in Nigeria’s oil and gas industry with his dedication to providing quality procurement services to his clients.
With over a decade of experience in the oil and gas sector, his journey is a testament to resilience, adaptability, and a commitment to addressing challenges within the industry.
His intrigue and fascination with the oil and gas industry, especially in the realms of procurement and management consulting, took root during this formative phase.
He explained that the challenges encountered in the industry, particularly in the procurement chain, are multifaceted.
He highlighted some of them as cost volatility, environmental concerns, regulatory compliance, transitioning to renewable energy sources, technological advancements, volatile oil prices, and skills shortages present formidable hurdles.
However, his focus has been on finding innovative and strategic solutions to navigate these challenges.
In response to the fluctuating costs in procurement, a supply chain market intelligence strategy has been his core solution.
Drawing upon his background in accounting and management, specifically business strategy, Obeka employs this strategy to guide his company in making informed decisions about market dynamics, pricing, and competitive positioning.
Addressing the industry’s need for better cooperation, he suggests that stakeholders, including fabricators, producers, suppliers, IOCs, and servicing companies, collaborate to design a framework that addresses the concerns of all parties involved.
This includes a review of the National Procurement Act and establishing specific elements during contract documentation to ensure a win-win for all players.
For government intervention, Obeka emphasizes the importance of bringing all stakeholders in the oil & gas Industry, especially those in the procurement chain, to the table.
A critical look at the Petroleum Industry Bill (PIB) and addressing security concerns are crucial steps to create an enabling environment for confidence and investment returns, he added.
In his perspective on improving the economy, Obeka stresses the collective responsibility of all stakeholders, including the government, private sector, and individuals.
He recommends increasing infrastructure expenditure, making the government leaner and more cost-effective, reducing non-oil revenue item taxation, addressing corruption with severe penalties, taking security seriously, and prioritizing the welfare of host communities and environmental challenges.
He noted that his journey in the industry is marked by a commitment to finding practical solutions and fostering collaboration among stakeholders. His story is not just about navigating the challenges within the industry but contributing to its resilience and growth.
Through his endeavors, the expert embodies the spirit of progress in the ever-evolving landscape of the oil & gas sector.
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