By Fejiro Oliver
In 2022, the NNPC Limited and Sahara Group Joint Venture took delivery of two 23,000 CBM Liquefied Petroleum Gas (LPG) vessels at the Hyundai MIPO Shipyard in Ulsan, South Korea.
The new vessels, MT BARUMK and MT SAPET, increased the NNPC and Sahara Group’s investment to over $300 million, approaching the JV’s $1 billion gas infrastructure commitment by 2026.
The vessels are part of the federal government’s commitment to the domestication of gas in Nigeria through several initiatives and increasing seamless supply under the LPG Penetration Framework and LPG Expansion Plan.
Both groups have further through the West Africa Gas Limited (WAGL) reiterated their commitment to develop and construct jetties across West African countries to boost Liquefied Petroleum Gas (LPG) supply and penetration as part of several efforts to take advantage of opportunities in the energy transition space.
The partnership has seen immense transformation of Africa’s largest thermal plant, Egbin Power Plc and has as one of its entities the Ikeja Electric (one of the largest private distribution companies in sub-Saharan Africa) and First Independent Power Limited (FIPL).’
The President-elect, Bola Ahmed Tinubu is also not in a hurry to ‘sack’ political office holders neither is he running against deadline to change the leadership of NNPC Limited that is tenure-based governed by the CAMA law and will most likely abide by as one of the pillars of democracy governed by law, with him as a follower of same law.
It is apparent that the media can do better by fact-checking and not yield to some amorphous “source” just to gain traction with fake news.
Kyari’s achievements as NNPC boss have been recognized both locally and internationally. His achievement has been described as unrivaled in the history of the National Oil Company.
He was responsible for the Open Government Initiative that ushered in an era of transparency and accountability in the NNPC’s operations. He has also kept his promise to the NNPC and Nigeria by increasing the nation’s oil reserves to 40 billion barrels, from 37 billion barrels.
The NNPC boss has also assisted in resolving disputes around deep offshore bloc to further boost the nation’s oil production, and ensuring the successful flag-off of the construction of the Ajaokuta-Kaduna-Kano gas pipeline project.
The NNPC Group which became a CAMA Company in 2021 following the implementation of the Petroleum Industry Act, grew its profit from N287bn in 2020 to N674bn in 2021 under Kyari’s leadership.
The N674bn profit posted by the NNPC Group in the 2021 financial period represents an increase of N387bn or 134.8 per cent when compared to the N287bn recorded in 2020. The 2021 financial year made it the fourth consecutive year that the NNPC will be making its Audited Financial Statement public.
This was one of the innovations made by Kyari when he took over the helm of affairs of the National Oil Company.
Since he assumed office, Kyari has pursued his Transparency, Accountability and Performance Excellence (TAPE) agenda, a five-step strategic roadmap for NNPC’s attainment of efficiency and global excellence.
– Fejiro Oliver is Managing Editor of Secret Reporters