Kyari opens up to thousands of NNPC staff about the looming reality of company’s new status
The Nigerian National Petroleum Company Limited (NNPC) has begun the shedding of some of its toxic Liabilities as it eyes the spot of most capitalised company in Africa.
Platforms Africa reports that the Chief Executive Officer (CEO) of the company, Mallam Mele Kyari, disclosed this while addressing staff of the organisation in a townhall meeting held at the NNPC Towers, at the weekend, with staff outside the Corporate Headquarters (CHQ) participating virtually.
READ ALSO: BREAKING: Buhari Appoints Board, Mgt of NNPC Limited + Names of Appointees
How NNPC Downed Expenditure by N299.44bn, Recorded ₦142bn Trading Surplus
Adeola Yusuf Assesses Nigeria’s 2021 Subsidy Cost, Fuel Supply Score Card
NNPC denies funding Buhari, GEJ elections with $1.2m oil trader’s bribes
NNPC ex-Spokesman, Dr. Kennie Obateru, Pens Emotional Tribute To Wife at 60
A statement by the company’s spokesman, Garba Deen Muhammad quoted Kyari to have added that Petroleum Industry Act (PIA) has begun in earnest and had put “all money-making options on the table; it is up to us to take advantage of it”.
He said as a result of the new legislation, NNPC Ltd would not only shed some of its toxic liabilities but will be the largest and most capitalised company in the whole of Africa and, potentially, the most profitable on the entire continent. He did not mention some of the toxic liabilities but a source at the Corporation said this include right sizing.
Here is the full statement.
PRESS STATEMENT
PIA Provides Enormous Business Opportunities for NNPC Ltd, Says Kyari
As the Federal Government commenced full implementation of the Petroleum Industry Act (PIA) in earnest, the new legislation has been tipped to provide business opportunities that will enable the Nigerian National Petroleum Company Limited (NNPC) earn more revenue for the country.
Chief Executive Officer (CEO) of the company, Mallam Mele Kyari disclosed this while addressing staff of the organisation in a townhall meeting held at the NNPC Towers, at the weekend, with staff outside the Corporate Headquarters (CHQ) participating virtually.
Highlighting the significance of the PIA to the NNPC and by extension the Nigerian economy, Mallam Kyari said the new legislation has raised shareholders’ expectations on the company, even as it has given it a wide room to make progress.
According to the CEO, the PIA had put “all money-making options on the table; it is up to us to take advantage of it”.
He said as a result of the new legislation, NNPC Ltd would not only shed some of its toxic liabilities but will be the largest and most capitalised company in the whole of Africa and, potentially, the most profitable on the entire continent.
The CEO charged employees of the organisation to ensure the company becomes a commercially viable entity and a multi-billion-dollar company that will continuously deliver value to its shareholders–the over two hundred million Nigerians.
Garba Deen Muhammad,
Group General Manager,
Group Public Affairs, Division,
NNPC LTD.
Abuja
15.01.2022
