Connect with us

OIL AND GAS

NNPC Monthly Report For July

Published

on

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

OIL AND GAS

Mele Kyari: PIA Provides Enormous Business Opportunities for NNPC Ltd

Published

on

By

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 a statement signed by the spokesperson of the company Garba Deen, CEO Kyari said, 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.”

Continue Reading

NEWS

President Buhari Demands, Transparency, Accountability From New NNPC Board

Published

on

By

President Muhammadu Buhari Friday in Abuja urged the Board of the newly incorporated Nigerian National Petroleum Company (NNPC) Limited to ensure strict compliance with Corporate Governance principles that place premium on doing business with the highest ethical standards, integrity, and transparency.

Inaugurating the Board chaired by Senator Margery Chuba Okadigbo, the President charged them to focus on profitability and operate at par with its industry peers across the world.

”I expect the NNPC Limited to be mindful of our commitments to our net carbon zero aspirations and to ensure total alignment with the global energy transition realities,” he said.

The President reminded the Board members that they came on board as a result of the reforms put forward by the Petroleum Industry Act (PIA) 2021, which seeks to reposition the Nigerian petroleum industry to a commercially viable and competitive industry in line with global business dynamics and best practices.

”The Nigerian National Petroleum Company Limited is mandated to focus on profitability and continuous value creation beyond the simple fulfilment of legal and regulatory requirements.

”NNPC Limited is expected to operate at par with its industry peers across the world, while acting as Enabler Company that will foster the development of other sectors of our Economy.

”The inauguration of this Board is a major step in the ongoing transition to a more viable petroleum industry that will attract investment to support our economic growth and generate employment to millions of our people,” he said.

President Buhari directed that there should be full alignment and synergy between NNPC Limited, the Upstream Regulatory Commission and the Midstream & Downstream Regulatory Authority in compliance with the provisions of the law in all respects to deliver the onerous reforms envisaged for the energy industry.

”NNPC Limited is expected to operate at par with its industry peers elsewhere in the world, while acting as Enabler Company that will foster the development of other sectors of our Economy.”While thanking the leadership and members of the National Assembly for their seamless support in the journey towards a viable, accountable and transparent energy industry, the President said he would count on the professional insights and ethical conduct of the Board members to ensure the delivery of his administration’s promises to Nigerians.

In his remarks, the Minister of State, Petroleum Resources, Timipre Sylva, said under the present administration a lot has been achieved in the petroleum industry, including the signing of the PIA, the registration of NNPC Limited as a CAMA company and the inauguration of the Board of the NNPC Limited.

”Mr President this is history in the making because this is the first time any President of the Federal Republic of Nigeria is inaugurating an independent board of an independent NNPC Limited. This, however, puts a lot of responsibility on the shoulders of those inaugurated and those of us in the Ministry of Petroleum Resources,” he said.

The following Board members were inaugurated: Senator Okadigbo, Chairman, Mele Kolo Kyari, Chief Executive Officer, Umar I. Ajiya, Chief Financial Officer, Dr Tajudeen Umar (North East), Mrs Lami O. Ahmed (North Central), Mallam Mohammed Lawal (North West), Engr. Henry Obih (South East), Barrister Constance Harry Marshal (South South), Chief Pius Akinyelure (South West), Dr Nasir Sani Gwarzo, Permanent Secretary, Ministry of Petroleum Resources and Aliyu Ahmed, Permanent Secretary, Minister, Finance, Budget and National Planning.

Femi Adesina, Special Adviser to the President (Media & Publicity), January 7, 2022.

Continue Reading

NEWS

Breaking News: Buhari Appoint Mele Kyari as CEO of NNPC Ltd

Published

on

By

,

…Names other Board and Management of the NNPC Ltd

According to a statement signed today by President Spokesperson, Femi Adesina disclosed that, the Chairman of the Board is Senator Margret Chuba Okadigbo (South East), Mele Kolo Kyari, Chief Executive Officer, and Umar I. Ajiya, Chief Financial Officer.

Other Board Members are; Dr Tajudeen Umar (North East), Mrs Lami O. Ahmed (North Central), Mallam Mohammed Lawal (North West), Engr. Henry Obih (South East), Barrister Constance Harry Marshal (South South), and Chief Pius Akinyelure(South West). The appointments take effect from the date of the incorporation of the NNPC Limited.


Also appointed are Executive Commissioners of the Nigerian Upstream Petroleum Regulatory Commission. They are: Dr Nuhu Habib (Kano), Executive Commissioner, Development and Production, Dr Kelechi Onyekachi Ofoegbu (Imo), Executive Commissioner, Economic Regulations and Strategic Planning, Capt. Tonlagha Roland John (Delta), Executive Commissioner, Health, Safety, Environment and Community, and Jide Adeola (Kogi), Executive Commissioner, Corporate Services and Administration.

Earlier appointed are the Board Chairman, CEO, Executive Commissioner, Exploration and Acreage Management, and Executive Commissioner, Finance and Accounts.
New appointees at the Nigerian Midstream and Downstream Petroleum Regulatory Authority are Francis Alabo Ogaree (Rivers), Executive Director, Hydrocarbon Processing, Mustapha Lamorde (Adamawa), Executive Director, Health, Safety, Environment and Community, Mansur Kuliya (Kano), Executive Director, Midstream and Downstream Gas Infrastructure Fund, Bashir Sadiq (Sokoto), Executive Director, Corporate Services and Administration, and Dr Zainab Gobir (Kwara), Executive Director, Economic Regulations and Strategic Planning.
They join the Board Chairman, Executive Director, Downstream Systems, Storage and Retailing Infrastructure, the CEO, and Executive Director, Finance and Accounts, who had earlier been appointed.

For Midstream and Downstream Infrastructure Fund, new Council Members are; Mr Effiong Abia (Akwa Ibom), Bobboi Ahmed (Adamawa), and Engr. Abdullahi Bukar (Katsina).


It will be recalled that President Buhari had last September written the Senate on the administrative structure amendments to the Petroleum Industry Act, which included appointment of Non-Executive Board Members, removal of the Ministries of Petroleum and Finance from the Board of the two new institutions, and appointment of Executive Directors.

Continue Reading

Trending

Copyright © 2022 The Benisheikh News. Design by KwaifaWeb.com