Transparency, research, innovation driving NNPC Ltd. transformation — Official
By Emmanuella Anokam
The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has identified transparency, accountability, research, technology and innovation as key drivers of the ongoing transformation in the company.
Mr Olalekan Ogunleye, Executive Vice-President, Gas, Power and New Energy, NNPC Ltd., said this while speaking during a Panel Session hosted by the NNPC Ltd. at the ongoing 2024 CERAWeek Conference in Houston, U.S.
Ogunleye, whose session addressed the theme: “Africa’s Energy Future: Access, Investment & Sustainability”, said under the current leadership of Mr Mele Kyari, the company had institutionalised the use of modern technology to drive its operations.
Ogunleye, in a statement by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., said the development had created tremendous value for the company in its quest to compete with its global peers.
“With the coming of the Petroleum Industry Act (PIA 2021), NNPC Ltd. has transformed into an integrated commercial entity, focused on transparency and accountability.
“They are the two core values that are vital towards the Company’s quest to float an Initial Public Offer (IPO) at the stock exchange.
“Over the last five years, the NNPC Ltd. has been pushing the agenda of transparency, accountability and performance excellence. I am glad to say that we are setting very high standards, and this is a journey that we are all committed to going forward,” Soneye quoted Ogunleye as saying.
He further observed that transparency and accountability have a commercial component to them, because they can make any organisation attractive to its partners and potential investors.
According to him, currently, the NNPC Ltd. is working assiduously to become IPO-ready, stressing that once that is done, the IPO will be phenomenal and successful.
Ogunleye, who described the future as exciting for the NNPC Ltd., said as the biggest energy company in Africa with the biggest resources and largest market, the company remained committed to delivering value to its shareholders.
He said gas would continue to be an important resource for Africa because it is the surest tool for economic development and for delivering better living standards for the teeming population on the continent.
He called on all gas players to sustain the advocacy for gas as a major energy source that will be utilised to develop the economic and industrial fortunes of the continent.
“Gas has come to stay. It is going to be part of the energy mix for us in the long term. We shall continue to be at the forefront of accelerating gas development and commercialisation in Nigeria,” he added.
Other energy experts on Ogunleye’s panel included Daniel Berkove, Senior Advisor, S&P Global; Emmanuel Mugagga, Chief Financial Officer, Uganda National Oil Company and Benjamin Acolatse, Deputy Chief Executive Officer (Finance and Administration), Ghana National Petroleum Corporation. (NAN) (www.nannews.ng)
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Edited by Vivian Ihechu
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