GLO, CHEVRON, FBN, OTHER FOR AWARD

 

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Globalcom, Chevron, First Bank among Nigeria’s top 100 firms for recognition

USING international benchmark as set by the International Integrated Reporting Council, the Federal Government yesterday in Abuja  said it had come in with  the names of Nigeria’s top 100 companies scheduled to have dinner with President Goodluck Jonathan during the presentation of the award on December 1, 2014 .

The chairman, Assessment Committee, Jim Obazee announced to journalists at a press briefing that companies that made the top 100 list include CHEVRON from the oil and gas industry, GLOBACOM in the telecoms, First Bank in the banking industry among others.  He said there are also surprises as names of companies many would consider as underdogs made the list,  adding that the most important thing is that such companies are providing employment to Nigerians and engaging the Nigeria’s space that is celebrating the President Jonathan-led administration and putting before foreign direct investors that Nigeria is a good place one can do the right business.

    He added that some of the benchmark include looking at the strategic focus of the organisation, connectivity of information, to what extent do the companies have responsiveness and shareholders’ inclusiveness, to what extent do they have materiality of their information and track down what their future orientation would suggest to the development of the economic space of Nigeria.

   His words, “But we went further in our own assessment of the top 100, we looked at the taxes paid over a period of time and that is why the federal inland revenue service is on the board.  We also look at the employment they are generating and they have generated.  We look at the level of investment they have in Nigeria and then their contributions in terms of social responsibility. We wanted to see what they have on ground and we are also interested in how what they have on ground is of value in terms of the amount they spent.”

   He said what the celebration portends to Nigeria was that the government of the day was finding a way to bring home to the citizens what value to be placed on non-financial information of the companies.  

   Obazee said there are so many financial commitments companies make to host countries in order to register their presence in such countries. This he said also draws other investors  into the same environment and the business climate of such country begins to improve.  This, he said, has been the lot of Nigeria in recent time.

  “We are trying to celebrate this initial step taken by these companies; we want them to know that the government of Nigeria is aware that they are part of this administration because they have faith in the Nigerian public. And if they have been generating employment, we want them to now generate it intentionally because some of those who make the list this year may not make it next year, this is something companies should compete for.  We cannot be stereotype on the list.  It is now left for the companies to step up their game and improve more on whatever they are doing now.  We want more investment from them and we want to continue to assess what they have to showcase Nigeria.”