NDEP is an actively managed investment company that is geared towards rewarding shareholders with long term capital gains and income, through dividends.
Though the company's shares are not yet listed on the Nigerian Stock Exchange (NSE), there has been a significant increase in the earnings per share attained since the Company’s inception, attributable to NDEP’s remarkable growth and development.
The Board and Management of NDEP are constantly looking for new opportunities to diversify the company’s asset base. NDEP is continuously investigating opportunities, both in Nigeria and beyond, to expand the company and enhance returns to shareholders.
The Company’s future is indeed bright. With the imminent development of the Omerelu oil and gas field, the near completion and commissioning of a dedicated gas processing plant and mini diesel refinery; and the drilling of additional wells, NDEP is set to continue its upward growth trajectory.
Corporate Governance
The Board
NDEP’s Board of Directors is comprised of experienced professionals from a range of backgrounds, including public administration, the oil and gas industry, the legal profession as well as the accountancy and financial sectors.
The board has a continuous desire and mandate to ensure the long term interests of shareholders are upheld. All members of the Board are shareholders of NDEP, which expresses their long term belief in the Company’s future and aligns their interests with all shareholders.
Board Committees
In line with section 263 (5) of the Companies & Allied Matters Act, 1990, NDEP has established the following committees to support the Board and its various functions, comprising of Board members:
- Finance Committee: Responsible for all Financial Matters
- Technical Committee: Responsible for handling the physical aspects of projects
- Governance Committee: Responsible for more general concerns
The Audit Committee
In compliance with section 359 of the Companies & Allied Matters Act 1990, NDEP has established an Audit Committee, made up of directors and shareholders to consider the financial report submitted by the NDEP’s auditors, Ernst and Young. The Chairman of the Audit Committee is Chief Victor Oyolu.
