The new Group Managing Director of Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, yesterday, promised to fix the country’s four refineries before the end of May 2023.
Speaking at the valedictory session for the former Group Managing Director of NNPC, Dr. Maikanti Baru, and the assumption of office of the new Group Managing Director, GMD, in Abuja, Kyari disclosed that the new NNPC management would transform the country into a net exporter of petroleum products before the end of the tenure of President Muhammadu Buhari.
Kyari explained that NNPC would encourage Public Private Partnership in the revamp of the refineries and would also support involvement of private individuals in building of conventional and modular refineries.
He noted that under his watch, NNPC would provide the much needed incentives that would help the petroleum industry grow crude oil production to three million barrels per day and shore up the country’s crude oil reserves to 40 billion barrels.
He said: “I assure you that we will follow up to ensure that within the life of this administration — before President Muhammadu Buhari’s tenure ends in 2023 — we will deliver on the four refineries.
NNPC’ll be accountable, transparent
He promised that the NNPC would be accountable to all Nigerians, meaning that every Nigerian would have access to all its activities, noting that in the nearest future, the NNPC would make it possible for individuals to order and pay for petroleum products online and get it delivered to their petrol retail stations.
Kyari vowed to carry all stakeholders along, stating that the NNPC would work with other agencies in the petroleum industry to deliver the benefits of the petroleum industry to the Nigerian populace.
NNPC in capable hands, Baru assures
Also speaking, former Group Managing Director ofNNPC. Dr. Baru, expressed optimism that he was leaving the corporation in better hands, stating that Kyari and his team were the most capable and caring leaders that would take the NNPC to greater heights.
According to him, before now, Kyari had effectively managed the Crude Oil Marketing Division, COMD, and the Direct-Sale Direct-Purchase, DSDP, scheme that enabled the NNPC manage the petroleum products supply of which without this intervention it would have been very difficult for NNPC and the country.
He noted that Kyari possessed the skills and temperament to continue on the path of moving NNPC to better heights.
He said: “Based on the foregoing, I feel highly elated and fulfilled that I am leaving behind a corporation that is stable, well aligned to meet its objective. My belief is, if you continue on the same trajectory, we shall surely reach our dream of building a company that meets the expectations of our founding fathers. That is a world class Energy Company playing its part in the global energy business and meeting the expectations of its shareholders, the citizens of our great Country, Nigeria.”
Baru, therefore, charged that new chief executive of NNPC to focus on staff development, ensure the transparency of its operations; resolution of the liquidity challenges and full migration to the International Financial Reporting Standard, IFRS.
He also advised Kyari and his team to ensure the resolution of the under recovery issues through appropriate recommendation for the provision of subsidy in the Medium Term Expenditure Framework, MTEF, and the Federation’s Budget Appropriation.
Baru added that, “NNPC should continue to lead the way in provision of energy security as a supplier of last resort for petroleum products to Nigerians, power and other energy mix for the country.
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