LCCI to hold business clinic on downstream oil sector

08 March 2016, Lagos = In its determination to find lasting solutions to the plethora of challenges facing the downstream sector of Nigeria’s oil and gas industry in line with the agenda of the Federal Government, the Petroleum Downstream Group of the Lagos Chamber of Commerce and Industry (LCCI) will next week in Lagos hold a business clinic on the way forward for the sector.

Fuel scarcity persists

Fuel scarcity

The theme is: “2016 Business Outlook: Petroleum Downstream Perspectives,” and the participants will examine current business opportunities and the challenges plaguing the petroleum downstream sector.

The clinic will also appraise current realities as Nigeria contends with harsh economic climate,

Nigeria’s current harsh business climate is exacerbated by the persistent global oil price slum which has emasculated the revenue generation drive of most oil-producing nations.

The event, which will be sponsored by Techno Oil LImited, will also appraise downstream activities in Nigeria since the commencement of the reforms of President Muhammadu Buhari and review the global crisis in the oil industry.
A leading economist and financial expert, Mr. Bismarck Rewane, Managing Director/Chief Executive Officer of Financial Derivatives Company Ltd. is expected to be the lead speaker.

Other speakers at the clinic are Mr. Reginald Stanley, a former Executive Secretary of the Petroleum Products Pricing Regulatory Agency, (PPPRA) who is currently the Managing Director/CEO of Petrowest Energy Resources, Mr. Tunji Oyebanji, Managing Director/CEO, Mobil Oil Nigeria and the President of the LCCI, Chief Nike Akande, who is also the chief host of the event.

The Executive Vice-Chairman of Techno Oil Ltd., Mrs. Nkechi Obi, is among distinguished personalities and other LCCI council members that will attend the conference.

Chairman of the Petroleum Downstream Group, Mr. Ken Abazie said the group was determined to create a platform for all stakeholders in the downstream to tackle critical issues affecting investments and investors in the oil industry.
The group is one of the active segments of the LCCI and its membership cuts across major and independent marketers, depot owners as well as servicing companies in the downstream with over 90 companies as members

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