About PTDF

/About PTDF
About PTDF 2017-07-25T21:58:33+00:00
  • To provide scholarships and bursaries, wholly or partially in Universities, Colleges, Institutions and in petroleum undertakings
  • To maintain, supplement, or subsidize such training or education as mentioned above.
  • To make suitable endowments to faculties in Nigerian Universities, Colleges or Institutions.
  • To make available suitable books and training equipment in the institutions aforesaid;
  • To sponsor regular or as necessary visits to oil fields, refineries, petro-chemical plants, and for arranging any necessary attachments of personnel to establishments connected with the development of the petroleum industry; and
  • To finance and participate in seminars and conferences which are connected with the petroleum industry in Nigeria or abroad.Based on the mandate, these focal areas of interventions were developed for the Fund’s operation. These are;
    • Human Capital Development Programmes
    • Institutional Capacity Building
    • Research and Development for Local Technology

To train Nigerians to qualify as graduates and professionals in the field of engineering, geological sciences and management for the Petroleum Industry. To train Nigerians to become capable technicians and craftsmen in the relevant fields of the Petroleum Industry.

To serve as instrument for the development of indigenous manpower and technology acquisition in the Petroleum Industry in Nigeria. To make Nigeria a human resource centre for the West Africa sub-region in the Petroleum Sector.

Strategic Direction of the Fund

A Strategic Review of all PTDF interventions Programmes and Projects to align with Current National, Political, Economic and Global industry realities. The initiative provides new pathways to realizing the corporate objectives of the Fund taking into consideration the long-term sustainability plan of the Fund.

 PRIORITIES

  1. Domestication of the Funds Interventions especially the Overseas Scholarship Scheme, with a view to stemming the escalating costs & relocating the benefits of these programmes from foreign training institutions & bodies to indigenous institutions.
  2. Creating linkages with the Nigerian oil and gas industry with a view to ensuring that the benefits of PTDF capacity building interventions are seamlessly realised through increased participation of Nigerians in all aspects of the country’s oil and gas value chain;
  3. Utilization of oil and gas centres of excellence developed in strategic locations to drive the actualization of the Fund’s mandate.
  4. Cost cutting and waste reduction through institutionalization of efficient and effective internal processes, full regulatory compliance and due process.
  5. Ensuring sufficient & sustainable funding through timely release of funds and effective investments.
  6. Reposition PTDF to be a major source of cutting edge research for the Nigerian and global oil industry

History of PTDF

The Petroleum Technology Development Fund (PTDF) was established by Act No. 25 of 1973 which repealed the Gulf Oil Company Training Fund Act. Prior to the establishment of PTDF, there existed the Gulf Oil Company Training Fund, the assets of which were transferred to the Fund upon promulgation of the Act setting it up. The legislation vested the Fund with the responsibility of training and educating Nigerians to become professionals and experts in the petroleum industry. The Fund existed only as a desk in the Department of Petroleum Resources until the year 2000 when it became a fully functional Agency of government.

The establishment of the Petroleum Technology Development Fund for the training of Nigerians to qualify as graduates, professionals, technicians and craftsmen in the field of Engineering, Geology, Science and Management in the petroleum sector was the first major step at institutionalizing the policy of local manpower development in the oil and gas industry. Prior to its establishment, the government had taken legislative actions mandating international oil companies to employ and train Nigerians such that after a given period, Nigerians will take over the running of the Industry from exploration to marketing. PTDF is therefore a special purpose Fund to train and make available skilled, competent and qualified local manpower for the oil and gas industry. It is also involved in developing and upgrading local institutions that are used in providing training and education to Nigerians to make them competent, capable and skilled to participate actively in the industry. Through research and adaptation of technology, PTDF strives to promote processes for the development of material input required by the industry using local raw materials and indigenous researchers.