I got an autographed copy of this book from the author himself in November during the annual Edo State Alaghodaro Summit for 2022. I found it highly engaging and a journey through the Nigerian Oil and Gas sector from inception. This review will focus on the oil and gas sector as the life-wire of the economy in terms of foreign exchange earnings, major source of government revenue and the basis of our trade with the rest of the world, the balance of trade.
The book gave a vivid account of the domestic aspect of gas monetisation through the 400-kilometre Escravos to Lagos pipeline under the Nigerian Gas Company. As a project, this was a piece of cake compared to the international bound NLNG project, but Dr Godswill Ihetu focused his attention as the Managing Director of Nigerian Gas Company on how to vastly improve the revenue profile of the company.
As you read the book, one cannot but wonder about the state of the gas supply contracts, over 20 years tenure mainly to European countries. You also grasp why Bonny LNG failed and the lessons that NLNG gleaned from that; you begin to imagine why Brass LNG and Olokola have not yet happened, despite a tight global gas market.
NLNG has been a huge success but the same cannot be said of the refineries where Dr Godswill Ihetu was not involved. It would have been expected that the NLNG shareholding, financing and governance structures should have long been replicated in the refineries and other key assets.
Dr Godswill Ihetu was retired in 1999, at the commencement of a new civilian dispensation. This career sunset marked another chapter in the evolution of the NNPC with the appointment of Dr Jackson Gaius-Obaseki, a pioneer, thorough bred professional, in the core upstream sector, as the Group Managing Director. Their paths crossed at Nigeria Gas Company, with Dr Ihetu as the boss as well as Managing Director and Dr Jackson Obaseki as Executive Director.
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