NNPC: Kyari starts week with charge for profit sustenance

NNPC GMD Malam Mele Kyari

As the Nigerian National Petroleum Corporation (NNPC) continues to receive commendation over its N287 billion profit in 2020, the Group Managing Director Malam Mele Kyari, started the week by charging the staff to work hard to sustain the profitability trend as Nigerians will no longer condone losses from the Corporation.

Kyari at a Town hall meeting which held at the NNPC Towers, Abuja, with staff joining from NNPC Offices across Nigeria assured that the corporation would continue to imbibe the best practices.

He applauded the staff for breaking the profitability jinx, adding that things cannot be the same with the Corporation again, especially with the passage of the Petroleum Industry Act (PIA) which mandated it to run under the Company and Allied Matters Act (CAMA).

He stressed that a slide back into losses for three consecutive years would mean liquidation for the Corporation.

“We cannot continue in the old path if we are not to run the risk of going under. We can do better. We have to do better because no one will take losses from us again,” he said.

He outlined the principles that propelled the Corporation from loss into profitability to include cost control, transparency, accountability and ethical conduct and urged staff to continue to uphold and abide by them.

On the need for high ethical conduct, he urged staff to red-flag every conduct that could prove inimical to the progress of the Corporation by either reporting such directly to him or deploying any of the whistle-blowing platforms that have been activated by the Corporation.

On the PIA, he explained that NNPC businesses must comply with the regulations as would be provided by the two regulatory agencies established by law to regulate both the upstream and downstream sectors of the industry.

He pledged to remain committed to the people strategy of the Corporation by promoting the welfare of staff, adding that the cooperation of the two in-house unions, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) were instrumental to the progress made by the Corporation.

In her remarks, the Group Executive Director, Corporate Services, Mrs Aisha Katagum, pledged the support and loyalty of the management and staff to the GMD’s leadership.

Also, Stakeholders especially members of Civil Society Organisations, in the week under review applauded NNPC’s Transparency Strides and ₦287billion profit in its 2020 Audited Financial Statement.

The applause came from participants at the Budgit Oil and Gas Industry Stakeholders’ Forum which held in Abuja.

The Chief Executive Officer of Budgit, Gabriel Okeowo, noted that NNPC had become more responsive and open than in the past thereby enabling a more cordial relationship between the Corporation and the civil society.

He urged the management of NNPC to sustain the new approach.

In a presentation, Country Director, Oxfam, Tijani Hamza, said NNPC in the last two years had been transparent and open, adding that the corporation has made a mark in the global transparency arena through the implementation of the Extractive Industry Transparency Initiative’s (EITI) inclusive framework.

On his part, Technical Director of the Nigeria Extractive Industries Transparency Initiative (NEITI) Dr Dieter Bassi, said the declaration of profit by the NNPC in a year the global economy was affected by the COVID-19 pandemic was a remarkable feat.

Responding to questions on the operations of the Corporation, Kyari, who was represented by the Group General Manager, Corporate Planning & Strategy, Mrs Oritsemeyiwa Eyesan, said the positive performance recorded was as a result of a new business strategy adopted by the NNPC to mitigate the impact of the pandemic.

The GMD affirmed the commitment of the Corporation to transparency and accountability, stressing that NNPC was open to questions on any aspect of its operation.

Other participants expressed satisfaction with the leadership style of the GMD, Malam Mele Kyari.

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