Our biggest challenges so far-Gramen Petroserve

A Niger Delta based oil and gas servicing company with its major operations in Warri, Delta State, Gramen Petroserve has identified low cash flow and inactivity of its jetty compounded by lack of project execution as major challenges confronting the smooth operations of the company.

This much was disclosed by Managing Director of Gramen Petroserve, Engr. J.A. Aghedo Wednesday August 20 in the company’s main operational base in Warri when they played host to the Executive Secretary of Nigerian Content Development Monitoring Board, NCDMB, Mr. Ernest Nwapa.

According to Engr. Aghedo, Gramen Petroserve which began operations February 16, 1993 with high premium placed on indigenous human capital development is well equipped, particularly in the area of safety but faced with the challenge of accessing fund worsened by the current bank interest rate.

L-R: Engr. Okorie Chijoke, Engr. Amen Aghedo, Engr. Ernest Nwapa, Engr. Henry & others

Responding, the Executive Secretary of NCDMB, Mr. Ernest Nwapa tasked the management of Gramen Petroserve to domestic its operations by taking advantage of the needs of its area of operation.

According to Mr. Nwapa, Gramen Petroserve should delve into manufacturing equipment for both industrial and domestic use, noting that evidences abound from his tour of the company’s facilities that raw materials needed for indigenous manufacturing are within the company’s area of operation.

While noting that the essence of his visit is to ascertain the development projects executed by Gramen Petroserve and its impact on the Nigeria Content Development Monitoring Board, the NCDMB Executive Secretary promised that his board is working on modalities to reduce the high interest rate being charged by banks on indigenous firms.

He advised indigenous firms to apply for loan under FCCF to reduce the current high interest rate and pledged the support of the board to enable Gramen Petroserve invest in indigenous manufacturing.

Our Correspondent reports that as part of the visit, the Executive Secretary of NCDMB and members of his entourage had an on-the-spot assessment of Gramen Petroserve’s operational facilities in Warri.

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