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NNPC Ltd to disclose asset base – Kyari

THE Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Melee Kyari, said on Tuesday the company would soon disclose its huge asset base because of its current status.

Kyari disclosed this to journalists after the unveiling of the New NNPC Limited by President Muhammadu Buhari at the State House, Abuja.

The president unveiled the new NNPC Limited which would operate as a profitable commercial entity and declare dividends to its 200 million shareholders.

The Petroleum Industry Act (PIA) provides for the transition of NNPC into a fully commercial entity, a Limited Liability Company incorporated under the Companies and Allied Matters Act (CAMA), to be known as the Nigerian National Petroleum Company Ltd.

The company will also support sustainable growth across other sectors of the economy as it delivers energy to the world.

The CEO said the organisation’s structure would be changed in order to get different results while more competencies would be embraced.

Kyari said: “We now have a smarter, more responsive, and more accountable company that must act within the premises of all the regulations that are accountable for private companies.

“We must also meet the standards for best practices in the industry, in terms of governance and make sure that all regulations are applied.

“We must ensure that we deliver back to back to all our stakeholders.”

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