Waltersmith Petroman now member of WEF Global Growth Companies

Waltersmith Petroman Oil Limited, a wholly Nigerian oil exploration and production company, has been selected by the World Economic Forum (WEF) as a member of the Forum’s Global Growth Companies (GGC).

The selection of the company is based on its business model, annual revenues and growth rates, executive leadership and market position.

According to Olivier Schwab, head of business engagement at WEF, which is responsible for the selection, “Waltersmith is a dynamic company with a clear potential to shape the future in its relevant business sectors and so is a perfect fit to our GGC community.”

With this selection, Waltersmith becomes a member of a group regarded as the most dynamic, high-growth companies, which are trailblazers, shapers and innovators, committed to improving the state of the world.

Abdulrasag Isa, chairman/chief executive of the company, while responding to the honour, said: “Waltersmith is delighted and proud to be selected as a member of the GGC of the WEF. This is clearly a recognition of the giant strides the company has made in the past 10 years in the realisation of its long-term goals and objectives.”

Waltersmith is focused on creating a resilient and robust enterprise with a clear vision of being an integrated energy company, with interests in gas, power and petroleum refinery, he said, saying “the emergence Waltersmith will have a significant impact on employment while making important contributions to the national GDP.”

Waltersmith Petroman was incorporated in 1996 as a joint venture between Walter Smith and Associates Limited, a Nigerian investment company, and Petroman Oil Limited of Canada, to operate as an oil exploration and production company. In 2001, it became a wholly indigenous company after the divestment of Petroman Oil.

With almost 400 members from about 65 countries, the WEF believes each GGC has the potential to become a leader in the global economy arising from their business models, growth records, leadership and unique markets.

Membership nominations come from WEF’s network of media leaders, existing GGCs, forum members and partners, faculty members and the general public.

The WEF selection committee of regional business experts evaluate the nominees on the following criteria: the company’s sustainable growth over a five-year period, major influence in the industry of operation or national competitive skills, visionary leadership and global corporate citizenship.

The GGC membership is a platform for executives from high-growth companies to network with other businesses, as well as leaders from government, civil society and academia, to discuss global, regional and industry issues while advancing a sustainable and responsible path of growth.