NNPC Ltd To Reveal New Asset Base – Kyari

Given its current situation, the Nigerian National Petroleum Company Limited (NNPC Ltd) claims that its extensive asset base would soon be released.

This was announced on Tuesday at a media briefing following the Presidential unveiling of the New NNPC Limited at the Presidential Villa, Abuja, by Malam Mele Kyari, Group Chief Executive Officer of NNPC Ltd.

President Muhammadu Buhari unveiled the new NNPC Ltd., which will function as a successful commercial business and pay dividends to its 200 million shareholders.

As it provides energy to the world, the largest National Oil Company (NOC) in Africa would also encourage sustainable growth in other economic sectors.

According to the Group CEO, the organisation's structure would evolve in order to achieve various goals while embracing more talents.

“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.

“We must ensure that we deliver back to back to all our stakeholders, ” he said.

According to Kyari, it will be valuable in two ways: by securing dividend payments and by providing the energy that stockholders desire.

He said that the new business was in a position to fulfil both goals since it had become an enabling business that could act and make decisions swiftly.

He predicted that the business would have systems, processes, a profit margin, and stakeholder accountability by the middle of 2023.

Regarding subsidies, he added 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 want,” he said.