By the middle of 2023, the NNPC would have systems, procedures, lines of profitability, and responsibility to stakeholders, according to its CEO Mele Kyari.
By Omotayo Olutekunbi
The Nigerian National Petroleum Company Limited (NNPC Ltd) has stated that it will do business at the price established by the federal government and that it will soon make its asset base known to the public.
By the middle of 2023, the NNPC would have systems, procedures, lines of profitability, and responsibility to stakeholders, according to its CEO Mele Kyari.
Regarding subsidies, he claimed that NNPC Limited had no objections and that the state would be responsible for any problems.
“Whatever is the decision and policy of the state, the NNPC is there to deliver commercial value to the customer at the price that the state wants,” Mr. Kyari explained.
This was said by him on Tuesday during a press conference held at the Presidential Villa in Abuja following the presidential introduction of the commercialized NNPC.
The new NNPC, which would function as a successful commercial corporation and distribute dividends to shareholders, was announced by President Muhammadu Buhari.
The Nigerian National Petroleum Company Ltd. will become a limited liability company formed under the Companies and Allied Matters Act (CAMA) in accordance with the Petroleum Industry Act (PIA), which calls for the transformation of NNPC into a fully commercial organization.
As it provides energy to the globe, it is anticipated to enable sustained growth across various facets of Nigeria’s economy.
The head of NNPC stated more competencies will be accepted and the organization’s structure would evolve to get various outcomes.
“We now have a smarter, more responsive, and more accountable company that must act within the premises of all the regulations that are accountable for private companies. We must also meet the standards for best practices in the industry, in terms of governance and make sure that all regulations are applied,” Mr. Kyari stated. “We must ensure that we deliver back to back to all our stakeholders.”
Also, he stated that NNPC’s value will manifest in two ways: by guaranteeing dividends and by providing energy. He claimed that the firm is in a position to fulfill both of these objectives since it is now a decision-making corporation that could move rapidly.
Related posts
#BigBrotherNaija “Level Up” Week 3
Reviews
Follow Our Activities On Facebook
4 hours ago
17 hours ago
2 days ago
2 days ago
3 days ago
Sophia Stewart: Does She Deserve Recognition as the Mastermind Behind “The Matrix” and “Terminator”?
Sophia Stewart is an African-American author, screenwriter, and self-proclaimed conceptual creator of the "Matrix" and "Terminator" franchises. Stewart became well-known for her legal battles, arguing...SUBSCRIBE
[mc4wp_form id=”2012″]
Top Reads!
#BigBrotherNaija “Level Up” Week 6
Though last Sunday Sunday was meant to be a “no-eviction” day, it came as a shocker when fake housemate, Modella…
Dating in 2022; Situationships Are Not For The Fainthearted
Situationships are defined as that space between a defined relationship and something other than a friendship. It is a romantic…
20 Questions With Dinta Media’s Visual Storyteller, Chimeremogo Nwoke
Dinta Media is not really just a media production brand but we like to see ourselves as a hub for…
How Are Nigeria’s Small Businesses Coping?
The current rising rate of inflation and other burdens against the Nigerian economy speaks to the realities of the times.
Thrifting Is All The Rave Now, Here’s Why
By Amy Adindu The affordable clothing movement has gained global attention and acceptance as we’re all trying to look like…
#BigBrotherNaija “Level Up” Week 2
Week 2 of the highly watched Nigerian TV show kicked off with an early plot twist. On Sunday, Big Brother…
#BlueTunes: Burna Boy, Omah Lay Top Album Picks For July
July was a promising month for music lovers; from Lizzo’s album titled Special and Imagine Dragons’ Mercury, (Acts 1 &…
#BlueTunes Album Picks For June
Gbagada Express – Boj Bolaji Odojukan, popularly known as BOJ, was raised both in England and Nigeria. He shot to…
“A Creative’s Dream” with Jeff Chinonso
On the 26th of June 2022, Jeff Chinonso hosted his first solo art exhibition. The Augmented Reality exhibition themed “A…
Nigerian API-based company Thepeer raises $2.1 million
Tech infrastructure startup Thepeer has raised a $2.1 million seed round according to a report from TechCabal. Thepeer, a Nigerian…
Dika Ofoma, Ugochukwu Onuoha take on grief in Debut Film “The Way Things Happen”
The twenty-minute film focuses on the loss of a loved one, and how grief changes a person.
Nigerian Startups might just be Crippled by a Recently Leaked bill
Over the years there has been talks of amendment on the 2007 Act of the National Information & Technology Agency (NITDA).
Why We Love Kelechi Amadi Obi
The definition of talent is Kelechi Amadi’s iconic story. Imagine a person who studies law in school, gets called to Bar, and leaves it all for something different and unrelated…Painting!