• Application Deadline:
• Position: Senior Budget Manager / Cost Accountant



• Job Type Full Time



• Qualification BA/BSc/HND , MBA/MSc/MA



• Experience 8 - 12 years



• Location Lagos




• Job Field Finance / Accounting / Audit 
  
  

Job Summary

• The Senior Budget Manager / Cost Accountant is responsible for leading the budgeting, forecasting, and cost accounting processes for the refinery business.


• The role ensures robust financial planning, cost control, and variance analysis to support operational efficiency, margin optimisation, and decision-making.


• This individual will collaborate closely with Operations, Strategy, Supply Chain, and Headquarter Corporate Finance to ensure alignment between financial plans and production realities.


• This individual will make sure operational KPIs align with financial KPIs and deliver timely variance analysis.


• The role requires deep expertise in cost accounting within process industries (ideally oil & gas or refining), a strong grasp of refinery operating dynamics (e.g., feedstock-to-yield ratios, variable/fixed cost drivers), and the ability to translate financial insights into actionable operational guidance.


• Deep understanding in procurement processes and ability to analyse and monitor the cost parameters from RFQ to delivery.

Key Duties and Responsibilites

Budgeting & Forecasting:

• Lead the refinery’s annual budgeting and quarterly reforecasting process in collaboration with department heads and corporate finance.


• Develop budget models that reflect production volumes, input costs, energy usage, and maintenance schedules.


• Prepare cash flow forecasts and support funding needs planning in coordination with Trade Finance, Group Treasury and CFO.

Cost Accounting & Product Costing:

• Maintain and monitor accurate cost accounting records, including standard costs, actual cost capture, and cost center allocations.


• Track material usage, process losses, by-product credits, and overheads to establish true cost of production.


• Analyse cost-to-serve for different products (PMS, AGO, Jet, PPP) and monitor refinery margin structures.

Operational & Financial Analysis:

• Prepare and analyse variance reports comparing actual results to budget and forecast at a granular level (per unit, per shift, per plant).


• Work closely with Refinery Operations to understand root causes for deviations in cost, yield, or efficiency.


• Recommend corrective actions and drive continuous improvement in cost management practices.

Internal Controls & Reporting:

• Ensure compliance with Group policies on budget governance, cost control, and expenditure approval.


• Support implementation of cost accounting modules in SAP and digital dashboarding tools.


• Collaborate with external and internal auditors on inventory valuation, cost records, and financial integrity.

Key Requirements

Education & Experience:

• Bachelor’s degree in Accounting, Finance, or Engineering; Master’s or MBA preferred.


• Professional certification (e.g., ACA, ACCA, CMA, CPA) is strongly preferred.


• 8–12 years of experience in budgeting and cost accounting, with at least 5 years in a capital-intensive or refining environment.


• Experience with refinery operations, oil & gas cost structures, or manufacturing process costing required.

Technical & Functional Competencies:

• Advanced knowledge of cost accounting principles, refinery margin analysis, and budget modelling.


• Proficiency in ERP systems (SAP), Excel modelling, and BI/reporting tools.


• Understanding of production, maintenance, and supply chain dynamics in the refining sector.

Leadership & Soft Skills:

• Highly analytical and detail-oriented.


• Strong communication skills with ability to interface with operations and finance teams.


• Proactive, accountable, and deadline-driven.


• Ability to challenge assumptions and guide data-driven decision-making.