BusinessDay 07 Nov 2017

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Tuesday 07 November 2017 28 BUSINESS DAY C002D5556 Energy Report ‘Operate Nigeria refineries as businesses for it to be efficient’ KELECHI EWUZIE Stakeholders in the downstream sector of Nigeria oil and gas industry have insisted that the four refineries in Nigeria must be operated as a business concern if the federal government ever wants to solve the current low capacity utilisation. They insisted that despite the work being done at the Nigerian National Petroleum Corporation (NNPC), to get the refineries operational at the level government is planning, it would need some good private equity participation. Reginald Stanley, Chair, OTL African Downstream Advisory board while speaking at a panel discussion at the just concluded Oil Trading and Logistics Expo in Lagos observed that Nigeria must have refineries that are very efficient. According to him, “If we put our house in order by way of the right investment, Nigeria will automatically belong among top refining countries and what that means is that we instantly become net export of petroleum products. Stanley observed that with NNPC supplying 445 thousand barrel per day, and Dangote refineries coming on stream with 650 thousand per day, Nigeria will be able to meet her petroleum demand needs. He urged government through the NNPC to address the issue of regulatory environment saying that if we don’t get that right, you can talk to all the financiers in this world, they would not come to invest. Godswill Ihetu, former Managing Director and Chief Executive Officer of the Nigeria Liquefied Natural Gas (NLNG) Limited andNigerian Gas Company (NGC) on his part said the issue of cleaner fuel needs to be addressed for the future when talking about Nigeria refineries. He opined that the issue of cleaner fuel becomes critical particularly for Nigeria own refineries which were build more than three decades ago. Ihetu insists that Nigeria refineries would need substantial upgrading to be able to get to the point of getting cleaner fuel which will be in demand in the future or are already in demand. He further observed that petroleum pipeline infrastructure need to be replaced if the country wants to operate an efficient refinery adding that this has major capital requirement to be able to replace them because the current pipelines has long gone beyond their good use. According to him, “We also need private sector involvement in equity for pipelines infrastructure because to leave that to the government will be a mistake because the government resources are stretch”. “Government needs to invite the private sector go into the pipeline logistics. What we have now at the NNPC refineries will need a lot of work. I hope we can get a good model that will make us move forward and not talk about the refineries every year”. Ihetu further called on managers of the economy to consider adopting the NLNG model, where 49 per cent NNPC participation 51 percent private sector in the operation of the petroleum adding that in this model, there is no political interference. “It is the best way to go that way because private partners bring in their expertise and these are high expenditure projects. They can bring in the finance for part of the equity which will solve problems”, he said. Ikeja Electric commences customer data capture exercise …Customers to get real-time alerts on completion of exercise Olusola Bello Ikeja Electric Plc (IE) , Nigeria’s has commenced a data capture exercise of customers across its network. The exercise, which entails capturing the phone numbers, contact details and e-mails of customers within her network seeks to ensure that customers begin to receive records/data of their energy consumption and monthly bills on a real-time basis, via e-mail/sms immediately the data is processed and generated. The company said that on completion of the exercise, customers will also be able to receive sms alerts for any payments made against their accounts and information concerning outages, maintenance and network upgrade on real-time basis. Speaking on the exercise, Felix Ofolue, head, corporate communications, Felix, said the exercise was put in place to enable customers better manage energy costs and bill payments, thereby improving overall efficiency of the billing process on both sides. Ofulue urged customers to visit Ikeja Electric’s website (www.ikeja to register their e-mail and GSM numbers. Speaking further, he encouraged customers to cooperate with its payment agents who are also part of the data capturing team, saying that, “Customers who make payments via Pawakad or Baxibox payment channels, will also be required to register before any transaction can take place. He further advised that customers should ensure that the details captured in the exercise are that of the payer and not a third party who has been sent to make the payment so that all related information can get to the intended recipient. The exercise, designed to allow customers receive information quickly and empower decision making, will however not stop the distribution of paper bills which is a NERC requirement. OpenOil launch report on how African governments manage extractive resources ISAAC ANYAOGU The African Development Bank (AfDB) and OpenOil, a Berlin-based financial analysis firm, have jointly produced a report on how African governments use financial models to manage oil & gas and mining projects. Titled ‘Running the Numbers: How African Governments Model Extractive Projects,’ analyses the capacity of 19 African resource-rich countries to use financial models, which simulate a simplified version of a real-world project in order to determine their financial benefits to the countries. AfDB and OpenOil conducted a survey of nearly 50 government officials to illustrate not only how widespread use of financial models is, but also how their results are utilised to inform policy. “Financial models are essential throughout the life-cycle of extractive projects,” said Johnny West, director of OpenOil. “They are not just important during the development of the fiscal regime, but also for the negotiation of fiscal terms with companies, for revenue forecasting, and for auditing and tax-gap analysis. This report not only stresses the need for African Governments to make efforts to close the information gap with extractive companies, but also shows where there are capacity gaps and how those gaps could be addressed, said the AfDB, urging development partners to invest more in capacity building. Also, there is a substantial gap in access to data that are key inputs for financial models in African countries, with the largest gaps in assessing information on capital costs and operating costs of projects. In addition to the need to build in-house financial modelling capacity, the report suggests that governments need to improve internal business processes and address the large gap that the report shows exist between information available to different agencies, departments and ministries. This study forms a crucial part of the Center’s support to African countries in realising the full potential of their natural resources, how are countries supposed to enter into negotiations with extraction companies that use financial models if the governments of such countries are not in possession of the latest and best models to calculate what a potential project is worth?” asked the AfDB. The report also encourages development partners to make capacity building in financial modelling a more significant part of their support to the management of extractive resources. Partners doing so already were encouraged to not just supply financial models as part of isolated technical assistance, but to also invest in equipping government officials with skills to create and use models. The report was launched at the 13th Annual General Meeting of the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) in Geneva, Switzerland. Over 150 experts and representatives of international development institutions, governments, civil society and extractives companies attended the launch.
Tuesday 07 November 2017 C002D5556 BUSINESS DAY 29 Harvard Business Review Tips & Talking Points TIPS & TALKING POINTS Billions on Content $8 billion: Netflix announced in October that it planned to spend up to $8 billion next year on content, including new movies and original programs, for its streaming platform. + More Spending, Worse Outcomes 40%: In a study of the 13 high-income countries in the Organization for Economic Cooperation and Development, researchers found that the U.S. spent 40% per patient on health, but still had the poor outcomes, like a decreased life expectancy. + Intelligence and Multitasking 5-15 points: A person’s IQ goes drops anywhere from 5-15 points when he or she is multitasking, according to University of London researchers. + A Vast Global Economy $12 trillion: In 2016, the 2,000 biggest companies in the world spent about $12 trillion on goods and services. + Workers’ Emotional Health 80%: According to the results of a global study of employee assistance programs, 80% of all cases of emotional health issues among workers involved stress, anxiety and depression in 2014. Two years before that, the number was 55%. Praise someone the way they want to be praised When leading a change effort, get reluctant employees on board first Change is hard. Most people have an inherent bias toward maintaining the status quo. If you’re leading a change effort, identify the employees most likely to undermine it, and help them get on board first. Plan two face-to-face conversations with each reluctant employee. — Your goal in the first conversation is to listen and understand why your colleague is holding out. — Your goal in the second is to show you have reflected on their input and to explain how and why your approach to organizational change will (or won’t) be different as a result. Have these conversations two to seven days apart, so your employee feels you’ve given their ideas thoughtful consideration. And give each talk enough Recognition is one of the most powerful tools a manager has, but not everyone wants their good work to be called out in the same way. Acknowledging someone’s work is meant to make them feel special — and it’s hard to feel special if a corporate procedure treats everyone the same way. One person might appreciate public praise in front of their colleagues, whereas another might prize a professional or technical award. A person who prioritizes customer feedback might treasure a letter from a customer — or a photo of the employee and customer together, framed for their office wall. Tailor your approach to each employee’s preferences. And if you aren’t sure what those are, ask. (Adapted from the HBR Guide to Performance Management.) c Encourage your team to draw during brainstorming meetings Brainstorming often involves sitting in a room and talking, which pushes people toward solutions that are easy to talk about. To expand the scope of your team’s thinking, try a different approach: ask your team to draw their ideas. There are several reasons why drawing is helpful. — First, it’s hard for people to describe spatial relationships, so any solution that requires a spatial layout is better described with pictures than with words. — Second, a large amount of the brain is devoted to visual processing, so sketching and interpreting drawings involves those brain regions in idea generation. time — your discussion should be unhurried and allow you to focus on the person who’s resisting the change. (Adapted from “Overcome Resistance to Change with Two Conversations,” by Sally Blount and Shana Carroll.) — Third, it is often difficult to describe processes purely in words, so diagrams are helpful. Don’t worry if you lack artistic talent: Studies have shown that a misinterpreted drawing can serendipitously lead to new ideas. (Adapted from “Your Team Is Brainstorming All Wrong,” by Art Markman.) 2017 Harvard Business School Publishing Corp. Distributed by The New York Times Syndicate It’s not a good idea to go into a tense conversation when you’re full of negative emotions. Before you get into the room, find a trusted colleague or friend who can listen to you complain. Say everything you feel about the situation — the good, the bad and the ugly. Don’t hold back. It’s important to get this out so that you’re not suppressing your emotions, which could make the conversation even trickier. When you bottle up your feelings, you’re more likely to express them in unintended ways. Prevent your emotions from seeping out by voicing your frustrations ahead of time. Doing so will help you feel calm and centered when Connect the dots between the job title you Have and the job Our job titles don’t always reflect what we really do. So how do you make a career move — either to a new job or maybe to an entirely new field — if you’re worried that your current title might give a hiring manager the wrong idea? The key is to showcase how your skills and experience are relevant to the new job. Start by making a list of the five or six most important responsibilities in the job posting, and jot down your accomplishments in those areas. Based on these notes, write a brief description of yourself that shows you have the experience the new job requires. Add this summary to the top of your résumé — but don’t simply call the section “Summary.” That overused term won’t grab anyone’s attention or distinguish you from other candidates. Instead, give the section a headline that really captures the breadth of your experience. (Adapted from “Writing Your Résumé When Your Job Title Doesn’t Reflect Your Responsibilities,” by Jane Heifetz.) Before a difficult conversation, vent a little you’re having the discussion. (Adapted from the HBR Guide to Dealing with Conflict, by Amy Gallo.)
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