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'Little investment, big returns'

Article - December 11, 2012
Management at DeltaAfrik, a leading project development company in the hydrocarbons industry, see massive potential remaining untapped

“The opportunities in Nigeria are less than 5 per cent tapped,” declares Akin Odumakinde, Managing Director of the country's leading project development company, DeltaAfrik.

However, now Nigeria is emerging as what Golden Sachs ranked as one of the next 11 economies that will attract the most investment and with the most promising future in the 21st century.

Because of this, DeltaAfrik is strategically positioned to unleash the remaining 95 per cent potential in Nigeria through offering engineering solutions and consulting services to clients in hydrocarbon, power, infrastructure, environmental, minerals and metal sectors.

“The platform DeltaAfrik has chosen covers pretty much everything a nation needs to develop,” states Mr Odumakinde.  “Everything we do is about the people. We are paid to take on challenges and offer solutions.” 

DeltaAfrik, established in 2003 as a joint venture between DeltaTek and WorleyParsons, can attribute a significant portion of its success to the mutually beneficially relationship it shares with one of the country’s leading international oil companies (IOCs), ExxonMobil.

According to the Managing Director of ExxonMobil Nigeria, Mark Ward: “We started with them as a small company, helped them develop their engineering capabilities and engineering practices, standards and processes. They are now one of the key engineering procurement contractors. Their success has been our success.”

Although many of these accomplishments have indeed been in the hydrocarbons industry, where DeltaAfrik is praised for project solutions with the lowest total lifecycle cost and the only company in the country that can offer large-scale complex projects in the upstream oil and gas sector, the corporation is also experiencing widespread success throughout the nation.

In fact, the Nigerian company, based in the country's largest city of Lagos, has recently been awarded a huge contract to design the master plan for the industrial city for the southern state of Akwa Ibom. The state government has allocated 14,500 hectares for the project, with 5,300 hectares going toward heavy industry, including petrochemicals and marine ports.

Massive projects such as this one have also contributed to internal growth, allowing DeltaAfrik to substantially expand its workforce. Whereas just 65 people were employed by the company in 2004, this number has shot up to 850. An emphasis on local employees has been a priority for DeltaAfrik: originally it started with only 55 per cent local workers, but today 80 per cent of the personnel are Nigerians.

DeltaAfrik’s success is exemplary of a general growth trend throughout the continent as investors seek valuable emerging markets.

“Africa is becoming relevant,” explains Mr Odumakinde. “People are looking where to invest and reap quantum. Africa is yearning for partnerships. A little investment, a big return.”


kehinde ladipo
09/05/2013  |  12:52
100% of 1

sir weldon sir and long life too you and your family