The association of oil and gas industry trainers said that the industry lost an estimated $2 billion to the COVID-19 pandemic.
This was disclosed by the Financial Secretary of the Oil and Gas Trainers Association of Nigeria (OGTAN), Matthew Olaleye while speaking with journalists in Lagos.
He said that the little funds left were used to pay salaries of staff, as there “was no business”.
Olaleye said, “For every contract that is awarded in the oil and gas industry, three per cent is expected to go for training. About $2 billion that was, based on our calculations, supposed to go to training, couldn’t come due to COVID-19.
“There was no business, even the little savings we had was used to pay salaries of our staff. The money is for expansion and this means that there is no expansion in the training stratum of the oil and gas sector.”
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He added that the trainers association felt the impact of the COVID-19 pandemic more than any other stakeholder in the industry.
“We, the oil and gas trainers, felt the impact of COVID-19 than any other stakeholders in the oil and gas sector.
“Immediately COVID-19 happened, the first thing that companies did was to cancel training for their staff.”
On the performance of the Minister of State for Petroleum Resources, Timipre Sylva, Olaleye said that the association was “extremely satisfied”.
He said, “We are extremely satisfied with the performance of the Minister of State for Petroleum Resources, Chief Timipre Sylva. He has performed beyond expectations.
“One of such areas is the transition to cleaner energy. Another is the Gas-based industrialisation. And, on this note, we are honouring the minister with the gas personality award.
“The DPR Director will also be honoured with Oil and Gas recognition award at the event.”
