The Oil Producing Trade Group (OPTS) Chairman, Ricky Kennedy, has said that members of the trade group had created over 600,000 direct and indirect jobs for Nigerians within the past 60 years.
Speaking at the 60th anniversary of the Oil Producing Trade Group (OPTS) of the Lagos Chambers of Commerce and Industry (LCCI), held in Lagos, Kennedy who is also the Managing Director, Chevron Nigeria/Mid-Africa Business Unit, said the 29 OPTS members had demonstrated resilience and commitment in the face of economic, security, environmental and funding challenges.
He said: “We have continued to make significant contributions to Nigeria’s development. As a group, OPTS member companies account about 90 per cent of Nigeria oil production and contributes significantly to the domestic and export gas production and supply. Over the last decade, OPTS member companies accounted for 40-60 per cent of government revenue and 85 to 95 per cent of export earnings.
“OPTS member companies are also proud to have paid tens of billions of dollars in taxes, levies, royalties, rents, and license fees to the Nigerian government.”
Represented by the Chairman of Shell’s Group of Companies in Nigeria, Osagie Okunbor, Kennedy said the group which started with Shell, Chevron, and ExxonMobil in 1962 has evolved as a group and become partners with Nigeria in the development of a sector that is key to the nation’s economy.
The 29-member group has 21 indigenous producers who are homegrown
“Our strength is not solely numerical. OPTS is also a credible voice in Nigeria’s upstream oil and gas industry. We use this voice responsibly to strengthen the long-term health of the industry, thus the Nigerian economy. Our long-term success has resulted from our partnership and collaboration with companies from across the industry, the government, and other stakeholders to address critical and common industry issues”
Speaking about the impact the OPTS has made so far, the association stated: “There is no doubt Nigeria has grown over time, and so has the oil and gas industry, which has consistently responded positively. OPTS members have demonstrated resilience and commitment in the face of economic, security environmental, and funding challenges. We have continued to make a significant contribution to Nigeria”