The long-overdue reforms needed in the Oil & Gas Sector caused a stir when the Government of Muhammadu Buhari sought to push through the Petroleum Industry Governance Bill (PIGB). It was clear that some Agencies would have to be consolidated while others would be scrapped. The Petroleum Equalisation Fund Management Board (PEFMB) not only sought to be one of the autonomous surviving Agencies, but sought to see its role in the ecosystem dramatically improved.
NAKACHI Consulting was retained to work with various Consultants to achieve this objective. Specifically, NAKACHI Consulting worked with the Petroleum Equalisation Fund to develop a Multi-Year Impact Plan and take senior Management on a Global Study Tour to observe and imbibe best practices, and develop an inviolable reason for its expected expanded role.
The assignment was a resounding success and PEFMB is in the best possible position to emerge, except otherwise dictated by The Presidency, as an autonomous and sustainable Agency under the PIGB.