BACK INTO THE BUSINESS

Nigeria 2018 | ENERGY | COLUMN

TBY talks to Ladi Bada, CEO, Shoreline Natural Resources, on the sector.

Ladi Bada

How have operations been for Shoreline Natural Resources over the past year?

Overall, 2015-2017 were bad years for various reasons. There was the fall in oil prices in the last few years, and it has taken time for people to adjust to that. Forcados Terminal reopened in May 2017 and is accepting crude again on the Forcados pipeline. There are several companies on this line that were affected by the shutdown, including Seplat, ND Western, Neconde Energy, Nigerian Petroleum Development Company (NPDC), Pan Ocean, and Midwestern. We are now optimistic that there will be stability in terms of the government and reduced militancy, and thus we can move forward.

How does Shoreline Natural Resources contribute to the local oil and gas sector?

We are a local company and when we make profits we generally reinvest it back into the local economy, as opposed to an IOC that might have to channel money out. We put money firstly back into the business itself and secondly into other businesses within Nigeria; the business stays here. On top of this, because we are Nigerian, we are more comfortable working with other local Nigerian firms to obtain services, which has a huge multiplier effect on the economy.