Following the Nigerian Government’s implementation of the Petroleum Industry Act (PIA), the Nigerian National Petroleum Company Limited (NNPC) said it is poised to earn more revenue for the country as the new legislation provides immense business opportunities.
Mallam Mele Kyari, the Chief Executive Officer (CEO) of NNPC Ltd, disclosed this while addressing staff of the organisation in a townhall meeting held at the NNPC Towers in Abuja at the weekend, just as staff outside the Corporate Headquarters (CHQ) joined virtually.
While highlighting the significance of the legislation to the NNPC and the Nigerian economy, Kyari said the new legislation has raised shareholders’ expectations on the company, adding that it has given it a wide room to make progress.
A statement by Garba Deen Muhammad, the Group General Manager, Group Public Affairs Division of the NNPC Ltd, in Abuja quoted Kyari saying that the PIA had put “all money-making options on the table; it is up to us to take advantage of it”.
The CEO 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 charged employees of the organisation to ensure that 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.