The chief executive officer (CEO) of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari, has said the newly approved Petroleum Industry Act (PIA) will provide business opportunities that will enable the NNPC to earn more revenue for the country.
Addressing staff of the organisation during a town hall meeting held at the NNPC Towers, Abuja over the weekend, with staff outside the corporate headquarters (CHQ) participating virtually, Kyari highlighted the significance of the PIA to the NNPC and, by extension, the Nigerian economy, saying the new legislation has raised shareholders’ expectations of the company, even as it has given it a wide room to make progress.
According to the CEO, the PIA put “all money-making options on the table; it is up to us to take advantage of them”.
He said as a result of the new legislation, NNPC Ltd would not only shed some of its toxic liabilities but would also be the largest and most capitalised company in the whole of Africa and, potentially, the most profitable on the entire continent.
A statement by the NNPC group general manager, group public affairs division, Garba Muhammad, said 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 200 million Nigerians.