Babajide Agunbiade

Babajide Ademola Agunbiade (born April 16 1972) is a Nigerian engineer, businessman, and philanthropist known for his contributions to the Offshore Oil and Gas Industry. He is the Chief Executive Officer of Alpha Energy Resources, and was formerly a director at General Electric (GE) Oil & Gas and Executive Director at National Oilwell Varco. He is one of the only 13 subject matter experts globally in subsea production systems. Quotes Nigeria may never harness full development potentials in the Oil & Gas industry Nigeria may never harness full development potentials in the Oil & Gas industry on October 27, 2020 How would you assess the Nigerian petroleum industry? An assessment of the Nigerian petroleum industry reveals that the NNPC is one of the inefficient government institutions in Nigeria, with heavy political interference, ambiguities, corruption and nepotism. Recent investigations and probes into government corruption in Nigeria reveals that a substantial part of government corruption, originates from the activities that relate to the management of the oil and gas proceeds, supposed to be channeled towards the growth and development of the nation. What is your take on the PIB, have you observed any gap? A major gap in the PIB 2020 is that the government’s continued control of the new NNPC raises concerns of a likely continuation of old practices such as corruption and weak accountability. The PIB 2020 does not specifically require the government to sell shares in NNPC Limited and this may stifle the much-needed fundraising required for the growth of the sector. Furthermore, unlike previous reform proposals, the PIB 2020 does not set a specific deadline for when the privatization/commercialization will be completed. African countries need to look into other sources of energy African countries need to look into other sources of energy Nigeria’s crude oil output is rising despite the reduction in global demand. You spoke about the dependency. Does that worry you or as a big oil and gas man, Are you happy that Africa seems to be plowing ahead, Even if the world is Shifting its focus? The restriction that has been placed by OPEC and all the other issues Nigeria is facing with production, even though the way you put it, Nigeria has the potential to produce 2.1 to 2.2 million barrels of Oil. With the production cut put in place by OPEC just to shore up oil prices shows that we now produce between 1.5 to 1.4 million barrels per day, so we have excess capacity. However, this historic cut is expected to see crude oil prices rebound by at least $15 per barrel in the short term. External links Oil & Gas expert, Babajide Agunbiade to celebrate 50th birthday at Leeds Castle, UK Agunbiade joins Mobihealth Board of Directors Category:Living people Category:People from Oyo State Category:Engineers from Nigeria Category:1970 births