INTERNSHIP REPORT

BABALOBI OLUWASEUN AYOKUNLE
07066100379, 08035897435, 08054523766.
obabalobi@ymail.com babalobi.oluwaseun@lmu.edu.ng
INTERNSHIP REPORT
National Petroleum Investment Management Services (NAPIMS).
(A COPORATE SERVICE UNIT OF NIGERIAN NATIONAL PETROLEUM COOPERATION, NNPC).
36/38 Gerrard Road, Ikoyi, Lagos.
22nd
July, 2015 – 19th
September, 2015.

07066100379, 08035897435, 08054523766.
TABLE OF CONTENTS
 INTRODUCTION OF THE REPORT.
 DESCRIPTION OF INTERNSHIP ASSIGNMENT.
 PROFILE OF NNPC / NAPIMS.
 OVERVIEW OF F.A.D (FINANCE AND ACCOUNT DEPARTMENT).
 OVERVIEW OF TREASURY.
 DECRIPTION OF WORK DONE.
 RELEVANCE TO COURSE OF STUDY AND CAREER PATH.
 RECOMMENDATIONS.
 ACKNOWLEDGEMENTS.

07066100379, 08035897435, 08054523766.
INTRODUCTION OF THE REPORT
This report gives an overview of my internship assignment at NNPC/NAPIMS office. It also
analyses the enormous lessons & opportunities I have gained during my assignment. I would
want to appreciate everyone that played a part to this assignment. God bless.
DESCRIPTION OF INTERNSHIP ASSIGNMENT
SAP® Financial Accounting (FI) collects and stores business transactions in a way that satisfies
external reporting requirements. Due to online integration within itself and with other
modules, it allows managers to assess the financial position of the company in real time. It
handles financial relations with vendors and customers, such as booking receivables and
payables, sending and collecting payments, issuing dunning notices and account statements.
Interface with banks (processing outgoing and incoming payments, posting bank statements) is
also done within this module.
Financial Accounting in SAP consists of:
 General Ledger Accounting (FI-GL) - the core of FI and of financials in general, providing
the basic financial reports such as balance sheet, P&L statements or data for VAT
returns. Due to its importance in the whole financial reporting structure, all "general
settings" that are shared by all submodules (e.g., organizational structures, document
types or posting periods) are described under this heading.
 Accounts Receivable (FI-AR) - all financial relations with customers.
 Accounts Payable (FI-AP) - all financial relations with vendors.
 Asset Accounting (FI-AA, formerly known as "Asset Management" FI-AM) - supports
acquisition, depreciation and retirement of fixed assets.
 Bank Accounting - processing of bank statements.

07066100379, 08035897435, 08054523766.
PROFILE OF NNPC / NAPIMS
The National Petroleum Investment Management Services (NAPIMS) is a
Corporate Services Unit (CSU) in the Exploration and Production (E&P)
Directorate of the NNPC charged with the responsibility of managing Nigeria
Government's investment in the upstream sector of the Oil and Gas industry.
The objective is to enhance and
maximize the margin accruing to
the Nigerian Federal Government
through effective supervision of the
Joint Venture Companies (JVCs),
Production Sharing Companies
(PSCs) and Service Companies
(SCs). We shall achieve our
objective through adequate
supervision of budgets and
performance, as well as ranking of
projects that give higher "returns
on investment" to the Nigerian
government. The cooperation also
engage in direct exploration of the frontier and inland basins.
Vision: To be a world-class portfolio manager of the Federal Government of
Nigeria (FGN) investments in the Upstream Oil and Gas Sector.
Mission Statement: To enhance the benefits accruing to the Federation
from its investments in the Upstream Petroleum Industry, through effective
cost control and supervision of the Joint Venture Contract (JV), Production
Sharing Contract (PSC) and Service Contract (SC) Operations.
Organizational Structure: NAPIMS is headed by a Group General Manager
(GGM) who oversees the divisional General Managers (GMs) who are in
charge of the Divisions, and report directly to the GGM. The GMs, in turn,
oversee the departmental Managers, while the Departments are further sub-
divided into Sections that are headed by Deputy Managers who directly
oversee the rest of the staff.
Division: The Ten (10) Divisions in the NAPIMS organizational structure
are Joint Venture Operations (JV), Production Sharing Operations (PS), Gas,
Frontier Exploration Services (FES), Materials

07066100379, 08035897435, 08054523766.
Management, Planning, Finance and Accounts, Nigerian Petroleum Exchange
(NipeX), Services and Legal.
Staffing: Staffs cut across all professions in engineering, geosciences,
economics, accounting, law, humanities and social sciences. In order to
improve our manpower development, NAPIMS consistently trains its staff to
meet the challenges in the dynamic Oil and Gas Sector.
Our Business: NAPIMS manages Nigeria government's investments in the
Upstream Sector, to maximize return on its investments through effective
supervision of the JV, PSC and SC Companies, using best industry practices.
We also engage in direct exploration of the frontier basins in order to open it
for investors. Our Nigerian Petroleum Exchange (NipeX) division oversees
both the e-marketplace and the Joint Qualification System (JQS) for
electronic procurement/contracting and registration of contractors/service
providers respectively. This ensures transparency in the contracting process
and reduces contract approval cycle.
Our Partners: NAPIMS represent the Nigeria government's equity holdings
in the Joint Venture operations with Shell Petroleum Development Company
Limited, Mobil Producing Nigeria Unlimited, Chevron Nigeria Limited, Total
Exploration and Production Nigeria Limited, Nigeria AGIP Oil Company
Limited, and Pan Ocean Oil Corporation. In addition, we also supervise the
mechanism of funding the Joint Venture Operations through the Cash-Call
Process. We have about 50 PSC Companies currently at various levels of
operations. Seven of the companies that we supervise are already at
production stage.
Local Content and Capacity Building: NAPIMS is the vehicle through
which the NNPC achieves its Local Content Strategy. Through effective
monitoring of its contracting process and implementation, NAPIMS ensures
that there is indigenization in both project award and project execution, in
line with corporate strategy. We ensure local content and capacity building
through the domiciliation of all geological and geophysical studies, pre Front-
End Engineering studies as well as certain segments of engineering
construction. This strategy is aimed at building Indigenous capacity as well
as stimulating backward integration.

07066100379, 08035897435, 08054523766.
Social Responsibility/Sustainable Development: As a responsible
corporate citizen, NAPIMS ensures that Oil Companies carry out their
operation in accordance with global standards and best practices to ensure
that operations are carried out in an environmentally friendly manner.
The Public Affairs Department (PAD): Ensures that our partners
undertake developmental programmes and Community Development
projects in communities where they operate. This has ensured a harmonious
relationship with host communities and an environment conducive to smooth
operation.
The Corporate Social Responsibility (CSR): Programmes cut across
infrastructural development, health care, educational sponsorship, sport
development and awareness campaigns.
OVERVIEW OF F.A.D (FINANCE AND ACCOUNTS DEPARTMENT)
The department comprises of three (3) sections:
 H.O.A (Head Office Account).
 J.I.A (Joint Interest Account).
 P.S.C (Production Sharing Contract).
OVERVIEW OF TREASURY
The office is involved in the process of administering the financial assets and holdings of the
corporation. The goal of the treasury management department is to optimize the corporation’s
liquidity, make sound financial investments for the future with any excess cash, and reduce or
enter into hedges against its financial risks.

07066100379, 08035897435, 08054523766.
OVERVIEW OF WORK DONE
 Introduction and overview of S.A.P (Systems Application & Products).
 Incoming accounts, Outgoing accounts, Incoming & Outgoing accounts, Third party.
 Reconciliation of accounts.
 Sorting & matching of bank statements for various banks.
 Clearing of bank statements to S.A.P for various banks.
 Reconciliation of bank statements errors on S.A.P.
 Registration and dispatch of payments vouchers.
 Monitoring of payments vouchers for signatories.
 Introduction to payroll office of the Treasury department.
 Administrative duties.
RELEVANCE TO COURSE OF STUDY & CAREER PATH
Managing financial performance to control costs and execute organizational strategies. Plan
and allocate resources to accommodate market change and align performance with strategy
using SAP software for financial planning and analysis. Define and cascade strategy, model cost
drivers, improve forecasting, and analyze huge amounts of data. Let managers streamline
budgeting processes, capture growth opportunities, short-circuit predicted variances, and
customize business flows. The result is increased profitability and a closer match of tactics with
organizational vision.
RECOMMENDATIONS
1. An in-house training should be organized for SIWES staffs.
2. Orientation and presentation of expected work to be done.

07066100379, 08035897435, 08054523766.
ACKNOWLEDGEMENT
The internshipopportunityIhadwith National PetroleumInvestmentManagementServices (NAPIMS)
was a great chance for learningandprofessional development.Therefore,Iconsidermyself asavery
luckyindividual asIwas providedwithanopportunitytobe a part of it.I am alsograteful forhavinga
chance to meetso manywonderful people andprofessionalswholedme thoughthisinternshipperiod.
BearinginmindpreviousIam usingthisopportunitytoexpressmydeepestgratitude andspecial thanks
to my wonderful parents, Mr & Mrs. BABALOBI BABATOPEfortheireverydaysupport; tomysiblings,
thankyou verymuchfor beingthere. Itismy radiantsentimenttoplace onrecordmy bestregards,
deepestsenseof gratitude tomyuncle,Mr. FALOBI EMMANUEL O. for givingme the opportunityto
workwithwonderful people andprofessionals,maythe almightyGODrewardyouabundantly.
I wouldalsolove toappreciate Mr. SEJEBOR DAFESTEPHEN, Group general Manager, NAPIMS.Iwish
expressmydeepestthankstoMr. ABBA A.I.,General Manager,Finance &Accountsdepartment(F.A.D)
for takingpart inuseful decision&givingnecessaryadvicesandguidance andarrangedall facilitiesto
make life easier.Ichoose thismomenttoacknowledge hiscontributiongratefully.
I wouldalsolike toappreciate Dr. BakoM., Mr. Ogunleye Olajide,Mr. Abiri Idris,Mr Ameh, Mrs. Iroha
Caro, Mr. Abdullahi Usman,Mr Arasi,Mr. Eture-Edhebe JohnWalker,Mr. Muhammed Abdullahi,Mr
Familoni Kehinde,Mr.Funsho,Mr. IsiakuAbdullahi, Mrs.Okafor, Mr. Danladdi,Mr. ModibboA.,Mr.
DavidObinnaUgochukwu Ugenyi, Staffsof Treasury & H.O.A departmentandall S.A.PConsultantsof
SEMA CONSULTINGfor theircareful andpreciousguidance whichwere extremelyvaluable formystudy
boththeoreticallyandpractically.
I perceive asthisopportunityasabig milestoneinmycareerdevelopment.Iwill strivetouse gained
skillsandknowledge inthe bestpossibleway,andIwill continue toworkontheirimprovement,inorder
to attaindesiredcareerobjectives.Hope tocontinue cooperationwithall of youinthe future.
Bestof Regards,
Babalobi OluwaseunAyokunle.
07066100379, 08035897435, 08054523766.
obabalobi@ymail.com,babalobi.oluwaseun@lmu.edu.ng.

INTERNSHIP REPORT

Recommended

Recommended

More Related Content

Similar to INTERNSHIP REPORT

Similar to INTERNSHIP REPORT (20)

INTERNSHIP REPORT