Oando PLC, one of Africa’s largest integrated energy solutions providers with a rich heritage, is currently seeking an Economist to join their dynamic team in Lagos, Nigeria. Oando has a robust presence in the energy sector, focusing on petroleum products marketing, supply & trading, exploration and production, and gas distribution. This is a unique opportunity for professionals with a background in economics, petroleum, or related fields to influence strategic decisions and contribute to sustainable energy solutions. If you’re passionate about economics and eager to make an impact in the energy industry, Oando PLC invites you to apply for this exciting Economist position.
About the job
Reports to: Assistant Manager, Economics
Job Purpose
The Economist will assist the Economics department in providing sound, efficient, and commercially robust analysis for strategic decision-making. The individual will support in economic evaluations of projects, and new business opportunities as well as periodic and ad-hoc re-evaluations of current assets. The Economist will also be expected to undertake tasks including but not limited to operations performance monitoring, tracking commodity prices, monitoring current events relating to the E&P industry, industry/market analysis & intelligence, trend/competitor analysis, and preparation of briefing documents. The Economist is expected to possess the ability to understand and develop relatively complex models, understand Nigerian fiscal regimes, and assimilate a confident understanding of OER’s business and strategy. As the Economist develops in skill and experience, the role is expected to evolve from a supporting role to a more autonomous role which will entail direct responsibility for specific assets or opportunities.
Undergraduate degree in petroleum disciplines or business/economics or other relevant fields from a reputable University
A postgraduate degree in economics, petroleum, or energy-related disciplines would be an added advantage
One degree level (either undergraduate or postgraduate) must be in Economics
3-5 years post-NYSC experience in an operator environment (e.g. Economics & Planning); or a strongly numerical and analytical role in Finance or Asset Management
Talented, creative, and with a strong interest in Business
Basic understanding of petroleum economics and Nigerian fiscal terms
Proven competencies in using Excel, Word, and PowerPoint software programs
Ability to understand and structure complex models and transactions, and to learn job-specific software
Major Responsibility Area
Support the Economics department by providing analysis, sourcing data, preparing presentations & reports as required
Update and develop models for commercial evaluation and decision analysis, as well as scenario and sensitivity analysis to assess various investment opportunities
Assist in evaluating potential assets to ascertain viability for acquisition/divestment and merger targets
Conduct comprehensive economic analysis to evaluate the profitability/viability of projects, including production optimization and cost management strategies
Generate in-house forecasts of relevant commodity prices and rates for internal planning purposes and decision basis
Analyze fiscal regimes and regulatory frameworks relevant to the company’s operations, to assess their impact on business operations & profitability
Track individual asset performance against budget and operational plan, and analyze production data and performance metrics to identify opportunities for enhancement in asset management
Monitor commodity prices and industry & market trends.
Update market information when required and contribute to reports on trends in the oil & gas industry and OER operations performance.
Conduct specific topical research and analysis as required.
Comply with approved decision-making and monitoring systems, processes, procedures & policies and ensure effective controls are adhered to in handling job duties.
Support the origination, closing and ongoing management of transactions.
Other duties as assigned
Core Competencies
Strong numerical & analytical skills
Detail-oriented with strong organizational skills
Networking & Relationship Management
Business performance monitoring and reporting
Initiative and a keen/acute sense of judgment, decisiveness, and self-discipline
Creativity and innovation
Ability to work independently and collaboratively in a team
Excellent verbal, written & visual communication abilities
Basic understanding of oil & gas industry dynamics
Key Performance Indicators
Quality, comprehensiveness, timeliness, and accuracy of data provided for analysis
Quality and depth of analysis
Accuracy and timeliness of output for decision-making and meeting statutory reporting timelines
Creativity and innovativeness
Initiative and enthusiasm, constant self-improvement
Jeremiah Ayegbusi is an economist and former Academic Officer of the Nigerian Economic Students Association, Redeemer's University Chapter (NESARUN). He analyzes economic news and conducts research for long-form analysis, leveraging his strong academic foundation and passion for insights.
