The Nigerian National Petroleum Corporation, NNPC, has vowed to continue
\nto find sustainable solution to the challenge posed by insurgency in the
\nNiger Delta.<\/p>\n
The Corporation said it had created security management platforms that
\nwould enable it identify and evaluate risks, develop and superintend
\nimplementation of investigations, and aggregate and deploy necessary
\nresources to guarantee peaceful business environment in the region.<\/p>\n
The NNNPC Group Managing Director, Dr. Maikant Baru stated this in an End
\nof Year Message to staff of the Corporation today in Abuja, stressing that
\nNNPC was committed to implementing a robust security and stakeholders\u2019
\nstrategy that would ensure that peace reins in the industry operational
\nareas.<\/p>\n
Dr. Baru attributed the recent increase in the country\u2019s oil and gas
\nreserves to 37 billion barrels and 192Tcf respectively to the relative
\npeace that was instituted in the Niger Delta.<\/p>\n
He explained that over the year, NNPC adopted strategies to ensure the
\nCorporation\u2019s operational profitability, citing the renegotiation of all
\nexisting contracts which had enabled his Management Team achieve
\nsubstantial value realization of between 5-30 per cent discounts.<\/p>\n
\u201cThis singular effort alone translated to substantial cost savings in
\nfavour of NNPC\u201d, the GMD noted.<\/p>\n
Dr. Baru expressed delight in the completion of negotiations with NNPC JV
\npartners towards the resolution of cash call funding challenges through
\npayments of arrears that were owed the partners.<\/p>\n
He said this feat was achieved by developing a clear payment plan as well
\nas the pursuit of an alternative funding strategy, stressing that arrears
\nof up to December, 2015 have been fully reconciled, with repayments plan
\nalso agreed upon.<\/p>\n
He said the ultimate objective of the recently signed off agreements
\nbetween NNPC and the JV Partners was to enable NNPC transit into an
\nIncorporated Joint Venture (IJV) business model for all the current Joint
\nVentures, JVs.<\/p>\n
The Group Managing Director of NNPC declared that with the support of his
\nstaff, other industry critical stakeholders as well as the generality of
\nNigerians, NNPC was able to bring stability to petroleum products supply
\nand distribution situation in the country.<\/p>\n
\u201cToday, motorists drive in and out of filling stations with ease. This
\nwould not have been achieved without the collective efforts of all of us,\u201d
\nthe GMD said in his statement.<\/p>\n
Dr. Baru said NNPC had commenced the implementation of a 12-key Business
\nFocus Areas developed by his Management Team which he said would enhance
\nthe Corporation\u2019s business performance, adding that his team had also
\ncompleted arrangements to put in place structures that would enable smooth
\nimplementation of new business models for its Strategic Business Units and
\ncompanies nationwide.<\/p>\n
The GMD in the End of Year Message expressed appreciation to President
\nMuhammadu Buhari who he noted had provided enormous support to his team\u2019s
\nefforts to reposition NNPC while he equally gave kudos to the Minister of
\nState for Petroleum Resources, Dr Emmanuel Ibe Kachikwu whose able
\nleadership, he reckoned, was strength to his team.<\/p>\n
Dr. Baru took over as NNPC GMD from Dr. Ibe Kachikwu on July 4, 2016 when
\nthe latter was appointed Honourable Minister of State for Petroleum
\nResources by President Muhammadu Buhari.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Nigerian National Petroleum Corporation, NNPC, has vowed to continue to find sustainable solution to the challenge posed by insurgency in the Niger Delta. The Corporation said it had created…<\/p>\n","protected":false},"author":1,"featured_media":50907,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-55203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n