FAMFA Oil: Prioritising Corporate Social Responsibility

FAMFA Oil are kind sponsors of #aowvirtual and #africaoilweek.

At FAMFA Oil, we know that CSR is crucial for societal development. Therefore, we continue to deliver sustainable social investments that enable us to build and consolidate long lasting strategic relationships with our stakeholders across the country. We understand the significance of building and developing local capacity in Nigeria, as well as contributing to community development.
As a company that operates in the Agbami deep offshore environment, we are guided by The Deep Offshore Community Affairs Group’s (DOCAG) Principle which enables us to view the whole of Nigeria as our host community. Consequently, our CSR initiatives are targeted towards ensuring sustainable development in the 36 states of the country, to include the Federal Capital Territory, Abuja.
With our partners on the Agbami Field, including Star Deepwater, Chevron, Equinor, NNPC and Prime Oil, we have continued to promote access to quality education in the country through infrastructural development. We have built and equipped 37 science laboratories, as well as 9 hybrid libraries (conventional and electronics). We have also improved the state of healthcare infrastructure in the country by donating 28 fully equipped chest clinics for the early diagnosis and treatment of tuberculosis and other chest and lung diseases.
In collaboration with the Agbami partners, we also started the Medical and Engineering Professional’s Scholarship Program in 2009, with more than 16,000 students benefitting from this intervention.
In the last quarter of 2019, along with the Agbami partners we commissioned a block of six classrooms for the Ajiran community primary schools in Lagos, donated a science laboratory complex to the students of Government Girls’ Secondary School, as well as provided Hybrid Libraries for the pupils of Government Girls College, Maiduguri and Day Women College, Dikuwa, all in Borno State. We also hosted the fourth edition of the STEM Symposium in conjunction with the Lagos Business School, as well as the Working to Advance STEM Education for African Women Foundation.  The event, which was themed “Advancing Innovation & Sustainable Development through STEM” was aimed at equipping students with skills to explore careers and opportunities that will create a viable means of enabling prosperity and sustainable communities.

We have spent approximately $35.6 million on CSR initiatives since 2008 with $7 million on educational infrastructure, $23 million on scholarships and $6 million on healthcare infrastructure.
FAMFA Oil Against COVID-19

On the 29th of March 2020, FAMFA Oil Limited, through its Chairman and Vice Chairman, pledged the sum of $2.74 million towards combatting the COVID-19 pandemic in Nigeria. The contribution symbolises FAMFA’s resilience, character and strength as Nigeria’s leading indigenous exploration and production company. In a press statement which followed the announcement, the Chairman and Vice Chairman expressed that: “As the world rallies to deal with the health, security, economic and social implications of the coronavirus, it is clear that we will feel the effects much more deeply than much of the developed world. Managing a crisis of this magnitude means that the strength of our responses will determine our ability to weather the storm”.

The contribution was distributed as follows:
  • The National Centre for Disease Control - $685,000
  • Lagos State Government- $685,000
  • African Centre of Excellence for Genomics of Infectious Diseases - $137,000
  • Medical workers on the frontline in Lagos - $274,000
  • Medical workers on the frontline in Abuja - $274,000
  • Supply of medical equipment to relevant organisations - $671,000
  • Dr Ameyo Stella Adadevoh Health Trust- $14,000

FAMFA Oil Limited has been working with these organisations to determine their specific requirements in the collective fight against COVID-19, ensuring that the contribution is deployed in the most impactful way.

Over the months, FAMFA Oil Limited and the Coalition Against COVID-19 (CACOVID), have worked together to combat the pandemic in Nigeria. CACOVID is a Private Sector taskforce working in partnership with the Federal Government, the Nigeria Centre for Disease Control and the World Health Organisation. This team is tasked with the responsibility of pulling resources across different industries to deliver technical and operational support while providing funding and building advocacy through awareness drives. In addition to the efforts of the Federal Government of Nigeria, CACOVID has provided and equipped medical facilities in 30 states of the federation. Through collaborative efforts, the team have provided ambulances and created testing, isolation as well as treatment centres that include Intensive Care Units (ICUs) and molecular testing labs.

Similarly, to complement the efforts of the Nigerian Government and cushion the economic effect of the coronavirus pandemic, FAMFA Oil Limited in collaboration with CACOVID distributed food items/palliatives to at least 1.7 million vulnerable people across the 774 Local Government Areas in Nigeria. Likewise, the CACOVID team distributed 5,000 loaves of bread to vulnerable individuals and families in different parts of Lagos State.

CACOVID is chaired by the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele and led by Alhaji Dangote (through the Aliko Dangote Foundation), as well as the Managing Director of Access Bank, Mr Herbert Wigwe. Funding committee members of the CACOVID initiative include the Chairman and Vice Chairman of FAMFA Oil Limited, Mr Modupe Alakija and Mrs Folorunso Alakija, as well as: Emefiele, Aliko Dangote, Herbert Wigwe, Abdul Samad Rabiu, Femi Otedola, Jim Ovia, John Coumantaros, Raj Gupta, Segun Agbaje and Tony Elumelu to mention a few. So far, the CACOVID team have successfully raised over $84 million in their fight COVID-19 in Nigeria.

About FAMFA Oil

Famfa Limited was incorporated in September 1991 and was awarded the leasehold rights to OPL 216 on the 10th of August 1993. In February 1996, the company’s name was changed to Famfa Oil Limited with the vision to be the leading indigenous oil and gas E&P company in Nigeria.

Famfa Oil Limited is currently one of the largest indigenous owned exporters of crude oil in Nigeria. Famfa Oil is committed to developing one of the deepest and largest offshore discoveries in the gulf. The Agbami field has been operating since 2008 and at inception, was producing 250,000 bbls per day. Famfa Oil plans to acquire and develop other assets in the African continent, as well as contribute to the development of the oil industry in Nigeria.
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