Financial Controller at Fatgbems Petroleum Company Limited

Role Summary

• The Financial Controller will oversee the financial management of the company’s downstream operations, including fuel distribution, retail outlets, storage terminals, lubricants, and logistics. The role ensures accurate financial reporting, strict compliance with regulatory requirements, robust internal controls, and the provision of strategic financial insights to support business growth, profitability, and operational efficiency.

Key Responsibilities

Financial Reporting & Accounting

• Lead the preparation of monthly, quarterly, and annual financial statements.
• Ensure compliance with IFRS, relevant tax laws, and oil & gas industry regulations.
• Maintain accurate general ledger postings and account reconciliations.
• Oversee fixed asset accounting, inventory valuation, and cost allocations.

Budgeting & Financial Planning

• Coordinate annual budgeting and periodic re‑forecasting.
• Analyze financial performance and provide variance reports with actionable insights.
• Support strategic planning and investment decision‑making.

Cash Flow & Treasury Management

• Monitor liquidity, working capital, and bank positions.
• Manage supplier payments, receivables, and credit lines.
• Optimize fuel procurement cost, forex exposure, and financing structures.

Internal Controls & Compliance

• Develop and enforce internal control processes across retail outlets, depots, and distribution channels.
• Ensure compliance with regulators such as DPR/NMDPRA, FIRS, LIRS, and other statutory bodies.
• Conduct periodic audits and investigations to prevent fraud, leakages, and financial risks.

Operations & Business Support

• Support pricing strategy, margin analysis, and cost optimization initiatives.
• Oversee financial aspects of stock management, tank farm operations, and logistics efficiency.
• Evaluate financial viability of new projects, partnerships, and expansion opportunities.

Leadership & Team Management

• Supervise accountants, analysts, and finance officers.
• Provide coaching, performance reviews, and continuous professional development.
• Collaborate with commercial, operations, supply chain, and retail teams to drive business performance.

Essential Qualifications

• Bachelor’s degree in Accounting, Finance, Economics, or related field.
• Professional certification: ICAN, ACCA, or CPA.
• Minimum 7–10 years experience in finance roles, with at least 5 years in oil & gas downstream.
• Strong knowledge of IFRS, taxation, and regulatory frameworks in the petroleum downstream industry.

Technical Competencies

• Advanced financial modelling and analysis skills.
• Expertise in ERP systems (e.g., SAP, Sage, Dynamics 365, Oracle).
• Solid understanding of stock management, pricing, and depot/retail financial processes.
• Strong grasp of treasury management, forex, cost control, and margin optimization.

Behavioural Competencies

• High integrity and strong ethical standards.
• Excellent communication and presentation skills.
• Ability to work under pressure and manage multiple deadlines.
• Leadership, team collaboration, and stakeholder management capabilities.
• Strong analytical thinking and problem‑solving skills.