The Honorary Doctorate Degree was conferred in recognition of his sterling contributions to the development of Geoscience studies and education at various Nigerian Universities, as well as invaluable contributions to the Nigerian Oil and Gas Sector.
Dr. Fatona’s pioneering role in the successful building of the first public indigenous, independent and foremost Integrated Exploration & Production Oil and Gas Company, NDEP was also noted by Osun State University.
During his distinguished career as a geologist, spanning over 45 years, Dr Fatona has made notable contributions to the Nigerian oil and gas industry. As the MD of NDPR, NDEP’s fully owned subsidiary, Dr. Fatona pioneered the concept of ‘Farming Out’ of marginal oil fields with Nigeria’s first Farm-Out Agreement negotiated in 2000, with the NNPC – Chevron Joint Venture. Additionally, he ensured the elimination of routine gas flaring from operations at NDPR’s Ogbele Production facilities with the 2012 commissioning of the Gas Processing Plant. To date, over 70Bscf Gas has been conserved through delivery to the Bonny NLNG and one other domestic gas off-taker.
Additionally, Nigeria’s first privately owned and Licensed Mini refinery, operated by NDPR and currently being expanded with a processing capacity of 6,000,b/d as part of NDPR’s diversification strategy remains an iconic attainment for the company. A second phase of expansion will bring the cumulative refining capacity to 11,000bbl/d by Q3 2019.
Dr. Fatona also gives back to society, especially by providing skills acquisition opportunities to the youth of Nigeria. Through NDPR he worked with the Board for the introduction of Nigeria’s first Host Community Development & Environment Trust which focuses on the overall economic development of communities impacted by oil and gas production operations of the company. Notable segments of development include youth skills and education as well as female empowerment schemes. Dr Fatona also acts as a mentor to students and young professionals starting out in the industry.
Dr. Fatona, MD NDEP Plc, commented, ‘…It is with great honor, profound humility and a happy feeling laced with warmth and appreciation that I accept the Honorary Doctorate Degree in Science (D.Sc), awarded by Osun State University.’
Specifically addressing the students, Dr Fatona continued, ‘You are all, each, the future of our Country and Society. You are each capable of being one day, called out, and standing on this same or other podium.
‘To achieve such, you each and all, must be determined, focused and desirous of making the difference in our tired and yet still vibrant society. It has to be in all you do. Each day, starting from when you wake up, and until you go to bed. Till you get called on a day like this. Surely – You can and will.’
‘I would like to thank the Council and Senate of the Osun State University, the Board, Management and Staff of NDEP and its subsidiaries as well as my colleagues from across the industry. Your support has been invaluable.’
Dr Fatona has also pledged to institutionalize a prize, the ‘Toyin & ‘Layi Fatona Earth Science Prize, and has committed to endowing the University with funding for a State of the Art Sedimentological (Soft Rock) Research Laboratory at Osun State University.
Dr. Fatona’s Honorary Doctorate Degree was presented during the grand finale of the 7th Convocation Ceremonies held at Osun State University on Thursday 22nd November 2018.