Abuja — The Executive Secretary of the Petroleum Technology Development Fund, PTDF, Dr. Bello Gusau, Thursday, disclosed that the fund utilised information and communication technology processes to mitigate against the impact of the COVID-19 pandemic and to ensure that its human capital development programmes were not negatively impacted by the pandemic.
Speaking at the 13th International Conference of the Nigerian Association for Energy Economics, NAEE, in Abuja, Gusau, who was represented by General Manager, Strategic Planning of the PTDF, Mr. Jide Adebulehin, noted that the COVID-19 pandemic had significantly impacted on its programmes, especially as most of its human capital development programmes were conducted overseas and through physical meetings.
He further stated that as an aftermath of the pandemic, the prospect of low oil revenue, and the rising cost of goods and services had negatively affected the development of new infrastructure, while it had also constrained the completion of existing ones.
Gusau said: “The prospect of declining revenue from oil, high inflation, high cost of materials and the advent of a recession, have impacted the development of new infrastructural projects and completion of ongoing projects is now at a very high cost. In addition, there have been reduced opportunity for industry stakeholders’ collaboration and linkages.
“However, to mitigate these challenges, the fund had to quickly review its operations to eradicate manual processes, to pave way for new automated flow work that are safer and efficient. It is necessary that as 2020 winds up, the various challenges should be considered as learning points for players in the petroleum industry.”
Highlighting the way forward for the petroleum industry in a post-COVID-19 economy, Gusau noted that as 2020 winds up, the various challenges witnessed should be considered as learning points for players in the petroleum industry.