PEF Equips for Post-PIGB Operations, Embarks on Capacity Upgrade


Chineme Okafor in Abuja

The Petroleum Equalisation Management Fund (PEF) has said it was working towards enduring through the process of Nigeria’s reform of her oil and gas industry through the instrumentality of the Petroleum Industry Governance Bill (PIGB), and would embark on massive upgrade of the skillsets of its workforce to deliver efficient services afterwards.

PEF’s Executive Secretary, Mr. Ahmed Bobboi, disclosed that the Fund would embark on three key objectives to stay up and relevant in the sector’s reform programmes, adding that on that basis, it would seek to drive its efficiency through standard change management processes.
He said this in Abuja at a meeting with the Inspirational Development Group (IDG), a global leadership and management performance consultancy group that specialises in improving business performances through behavioural change.

“There is a development in the industry – the Petroleum Industry Governance Bill (PIGB). The continued survival of PEF depends on what this law determines. Fortunately, we have gone through the process with the Senate successfully and now working with the House of Representatives to get through.

“In management, we see three major focal points to concentrate on – one is for PEF to continue to be relevant and operate, two is after survival, to try to expand our operations and services we render to the public, and three is then to focus on capacity building and utilisation. We have to have the right skills and people to be able to deliver,” said Bobboi.

He however stated that even though the agency was looking more at the challenges that the PIGB would bring its way, it would still continue to upgrade its capacity to operate in the country’s oil industry.
“Learning is a continuous exercise and we want to improve continuously, we see the world improving today especially on technology,” Bobboi added.
Similarly, the Managing Director IDG, Craig Preston, stated at the meeting that the group would be looking to help the Fund develop the leadership and team skills its needs to survive the reform and operate in the sector.

He said: “We do have the capacity to help develop the leadership and team behaviours within PEF through what has been and would be a period of really quite challenging change and it is important that the right people are able to provide example and strength to those who find change really tough, and if it is done properly, PEF would only go from strength to strength.”