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Published On: Mon, Feb 4th, 2019

Dangote, Inuwa Waya bag FIN petroleum industry award

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By Lateef Ibrahim, Abuja

The Managing Director (Trading) of the Nigerian National Petroleum Corporation (NNPC) , Dr. Inuwa Ibrahim Waya and President of Dangote Group, Alhaji Aliko Dangote were some of the dignitaries decorated with FIN Petroleum Industry Award in Abuja.
Other awardees include some business leaders, trailblazers, policy makers and investors in the oil and gas sectors in Africa including Benedict Peters and Gov. Abubakar Bagudu of Kebbi State.
The Petroleum Industry Award Gala dinner, put together by Foreign Investment Network (FIN) and Ministry of Petroleum Resources and sponsored by Total, took place at the Transcorp Hilton, Abuja as part of the activities lined up for the 2019 Nigerian Petroleum Summit (NIPS) approved by the Federal Executive Council (FEC).
The Summit was part of government’s efforts to reposition the country to play a leadership role in responsible oil and gas exploration, development of clean energy, job creation as well as formulation pro-people policies that will attract Foreign Direct Investment (FDI) into the country.
The Chief Executive Officer of Foreign Investment Network (FIN), Mr. Michael Dragoyevich while presenting the award, gave special recognition to Dr. Inuwa Waya, who, since he assumed office, triggered an ambitious programme of bidding for oil across the globe just as he commenced the process of winding off the operation of some NNPC trading partners to ensured that the country is able to get a fair deal at the international market.
Dr. Inuwa, a lawyer, has a Post Graduate Diploma (PGD), Management in International Energy Industry, College of Petroleum Studies, Oxford, England, also has a Master degree in Petroleum Law, Policy and Economics (LLM) University of Dundee, Scotland.
As the MD Trading, he worked assiduously in transforming the operations of NNPC Products and Crude Oil Trading Company, ensuring flexibility by actively participating in the imports and exports of crude oil and petroleum products.
Also NNPC trading under the leadership of Mr Waya is actively involved in massive trading activity by ensuring interrupted supply of petroleum products in the Nigeria markets.
He also ensured that these activities are done simultaneously with the consolidation of NNPC Joint Venture trading companies into one single formidable trading company doing business under the name of Duke Oil Incorporated.
Duke Oil, under Mr. Waya’s stewardship, has gone through a major turnaround. The Company is up to date in terms of Audited financial Statements and payments of Taxes. The turnover has considerably increased over the years and dividends are paid to the shareholders ( NNPC), as and when due.
In order to capture the emerging market in Asia and Middle East and in line with mandate given to it by NNPC, Duke Oil has opened office in Dubai – United Arab Emirate (UAE) and he has continued to supervise this transformation and consolidation processes in NNPC trading until the NNPC objective in that regards are fully achieved.
The Minister of Petroleum Resources, Dr. Ibe Kachukwu in his remarks, said that the award was an avenue to reward excellence and appreciate the resilience of investors and policy makers in the oil and gas sector who have continued to make inroads despite infrastructure deficit in the country.
Also Speaking, the Chairman of FIN Award Screening board and former Minister of State for Petroleum Resources, Dr Odein Ojumogobia recounted that the screening committee subjected each of the awardees to a screening process on their innovations and contributions to the development of hydrocarbon in the country. He stressed that most of the awardees showed strong commitment to ensure the oil and gas needs of the country were never in short supply.
High point of the event was the presentation of the FIN Petroleum Industry Award as well as Federal Ministry of Petroleum Resources Award of different categories to over 20 individual and corporate organisations from across the globe. It was presented by African leaders and representatives of OPEC in exquisite atmosphere.
Expressing his appreciation, the Chairman of Aiteo Group, Peters who bagged the African Icon of the Year Award, dedicated the award to all Aiteo employees worldwide saying, “The award by FIN as African Icon of the Year is awe-inspiring. It’s an honour to receive this type of recognition. Our modest efforts to provide Africa’s market places with top-quality energy solutions while being a reference point for indigenous capacity in oil and gas have clearly paid off, and we are proud of the fact that we continue to receive such prestigious distinction.”
The award dinner was attended by African leaders, international and local players in the oil and gas sector from across the globe, captains of industry, international investors and members of the diplomatic community.

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