How NNPC Saves Multimillion Dollars on Capital Expenditure – GGM

Group General Manager (GGM) ETD, NNPC, Engr. Johnson Awoyomi, FNSChE, receiving an award from the Lagos/Ogun chapter Chairman, Dr. KFK Oyedeko at the annual public lecture and luncheon of the Nigerian Society of Chemical Engineers, NSChE which held in Lagos on Saturday, 14th December, 2019.

By Ayo Ajayi

A Group General Manager (Engineering and Technology Division) of the Nigerian National Petroleum Corporation (NNPC), Engr Johnson Awoyomi has disclosed that the corporation has been able to save multimillion-dollar on its capital expenditure through cost engineering.

Awoyomi disclosed this while addressing members of the Nigerian Society of Chemical Engineers (NSChE), Lagos/Ogun Chapter on “Opportunities for Young Engineers in Cost Engineering Professional Certifications,” at their Annual Public Lecture and Luncheon in Lagos recently.

Although Awoyomi did not disclose a specific figure saved, he emphasised that the savings were remarkable, and has made cost engineering a project sanctioning tool for the top management of the corporation.

While also emphasising the significance of cost engineering, Awoyomi, who is the current president of the Nigerian section of the Association for the Advancement of Cost Engineering (AACE) International, noted that Nigeria’s real problem is not technical but the real problem is woven around costs. “Carrying out planning and scheduling, realistic cost estimate, effective project monitoring and control, as well as accurate service cost charge is pivotal to Nigeria becoming a stand-alone and profitable Nation,” he added.

Cost engineering, he noted, is that element of a project that keeps it on-track, on-time and within the budget.

He enjoined the members of the NSChE to join the AACE International and be certified, assuring them of career advancement and opportunities in the onshore and offshore assignments.

 

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