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First Bank of Nigeria Limited was recently presented with the Oil and Gas Banker of Year 2019 award at the Patrons’ Dinner and Industry Awards of the Nigeria International Petroleum Summit held at Transcorp Hilton, Abuja.
The four-day event, comprising conference and award dinner, was acclaimed to be Nigeria’s government’s official platform for the petroleum industry gathering which has evolved to become Africa’s premier business and technology conference for not just oil and gas but for other industries in the economy, notably; maritime, automobile, banking and finance, power (electricity), pipelines, LNG, infrastructure, engineering and construction amongst others.
Speaking on the award, the bank’s Chief Executive Officer, Dr. Adesola Adeduntan said, “we take pride in this recognition, as it represents the nation’s identification with our leading role in promoting the growth of the oil and gas industry. We remain steadfast on being the financial partner of first choice to Nigerians and, indeed across Africa as we collectively strive towards the continued growth of the economy at large”
Dr. Adesola Adeduntan, CEO, First Bank of Nigeria Limited, was represented by Mrs. Bashirat Odunewu, the Bank’s Group Executive, Energy & Infrastructure as a panelist to deliberate the topic “What are the key challenges when it comes to managing risk and generating sustainable long-term in-country value development environment”. Other speakers in the panel were Mrs. Olayemi Anyanechi, Managing Director, Partners Sefton Fross; Bank Anthony Okoroafor, Chairman, Petroleum Technology Association of Nigeria (PETAN); Mr. Bitrus Bako Nabasu, Permanent Secretary, Ministry of Petroleum Resources; and Patrick Olinma, Executive Director, Oil & Gas Commercial, Total E&P Nigeria Ltd.
FirstBank has over the years supported public and private players in the oil and gas industry which has been the mainstay of the Nigerian economy, post-independence. With its “Oil and Gas Contract Finance products”, the bank finances the Oil & Gas value-chain by providing Advisory/Agency services, Acquisition Finance/Reserve based lending to indigenous oil producing companies, trade Finance for crude oil export and refined product import and contract finance for oil service companies ranging from simple hospitality to complex turnkey Engineering, Procurement and Construction, amongst other tailor-made treasury and cash management solutions.
