Austin Avuru, a former Managing Director of Seplat Energy, says the Nigerian oil and gas sector is currently facing serious dwindling human capital development and requiring urgent attention.
Avuru stated this on Thursday during the first edition of the Nigerian Mining and Geosciences Society (NMGS)/ND Western/Layi Fatona annual lecture series held at the University of Ibadan.
The topic of the lecture was “Emerging Crisis of Human Capital Development in the Nigerian Oil and Gas Industry”.
Avuru, who was the speaker at the event, said the Nigerian oil and gas sector was undergoing a fundamental transition that required the attention of independent bodies.
“The problem of the transition is the dwindling human capital development in the sector and the solution always came from the international oil companies (IOCs) when they were in charge.
But now the IOCs are retreating and independent bodies have to step into their shoes and take over the mantle with the required human capital for the sector and country to move forward,” Avuru, who is the Chairman of A.A. Holdings Limited, said.
The speaker noted that without the required human capital in the Nigerian oil and gas sector there would not be any industry.
”The problem in the sector must be addressed for the industry and the Nigerian economy to thrive”.
In his remarks, the President of NMGS, Akinade Olatunji, said the Nigerian oil and gas sector needed an holistic view with the divestment of the IOCs. Olatunji added that it was about time to put in the right expertise to fix the sector and provide the right policies.
”This is necessary so that there will be appropriate individuals to run the sector’s affairs when the current leaders retire,” he said.
The NMGS President said the deficiency of human capital development in the sector portends a great danger that needed urgent attention.
Also speaking, Layi Fatona, the event’s Chief Host, said the lecture’s aim was to draw public attention to the problem of human capital development in the Nigerian sector.
Fatona, who is the ND Western Board Vice-Chairman, said every sector of the society and industries required a special skills person to perform the job in order to achieve effective results.
In his remarks, Kayode Adebowale, Vice-Chancellor of University of Ibadan said the institution would continue to partner relevant stakeholders for its progress.
Adebowale said the institution had built a career of excellence and produced graduates who have continued to contribute to the development of Nigeria and the world in general.
He commended the institution’s Department of Geology, NMGS and Fatona for their contributions in making the lecture a reality.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
