NNPC Continues Review Of Activities, This Week

The Nigerian National Petroleum Corporation (NNPC) will, this week, continue with its busy schedule in its avowed effort to fulfilling a mandate to ensure strong, reliable and efficient oil and gas sector in the country,
The corporation started its weekly activities on March 29, with the signing of a Memorandum of Understanding (MoU) with some of its partners and also explaining the transparency level,  especially with the rehabilitation of the refineries and the benefits that would accrue from the partnership.
Group Managing Director of the NNPC, Malam Mele Kyari, while playing host to the management team of the Nigeria Extractive Industries and Transparency Initiative (NEITI) led by its Executive Secretary, Dr Orji Ogbonaya Orji, at the NNPC Towers, Abuja, highlighted private sector plans to finance some of its projects.
He said the publication of the Corporation’s Audited Financial Statements had significantly improved investors’ confidence in the corporation and was instrumental to the speedy facilitation of the financing agreement for the rehabilitation of the Port Harcourt Refinery by the African Export Import Bank (Afreximbank).
“Since we opted to disclose our financial statements, the speed with which we close financial transactions has been monumental. We now close deals at a quarter of the time we used to do them and that is very critical,” the GMD noted.
He restated the corporation’s commitment to work with NEITI and urged the executive secretary and members of his management team to avail themselves of details of the corporation’s operations, especially the monthly engagement with the Federation Accounts Allocation Committee (FAAC) on the NNPC website.
It would be recalled that the NNPC boss, at the pre-summit conference on “Decade of Gas” in the week under review, also expressed the corporation’s readiness in boosting local consumption of gas in the country.
Kyari, who was the guest speaker at the conference, noted that the corporation was not only interested in ensuring infrastructure development for effective operation but an all-round development for optimal result.
He said, “Nigeria, under the visionary leadership of President Buhari, has committed huge resources to ensure that domestic gas infrastructure reaches every corner of our country to deepen natural gas utilisation.