FG unveils NNPC Limited for the growth and development of the Nigerian oil and gas industry

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The Federal government has finally unveiled the Nigerian National Petroleum Company Limited (NNPC Limited) with a new motto: Energy for Today, Energy for Tomorrow.

Present are President Muhammadu Buhari, Senate President, Ahmad Lawan and other government officials, the Minister of State for Petroleum Resources, Timipre Sylva and the Group Managing Director of NNPC, Mele Kyari among other players in the oil and gas sectors.

 Speaking at the event, the Group CEO, Mele Kyari said it is a new beginning for energy industry in Nigeria and for the world.

He stated that he has no doubt the new National company, is super charged to meet the high expectations of Nigerians.

NNPC Ltd boss, Kyari stated that “The journey would not have been possible without leadership of the president.

He said the event marks Nigeria’s “New beginning and is set to deliver greater value to 200 million shareholders”, citing that the leadership of Buhari made it possible, starting from his time in Government when the NNPC was created as a corporation in 1977, to its passage in 2021, which created a commercially driven energy company, to the world.

“A new day, new hope to upscale relevance as Africa’s largest economy positioned to lead Africa’s transition to new energy by deepening natural gas production.

“We are taking  a strategic initiative by rolling out a plan to grow retail presence from 547 to over 1000 outlets in six months, hinged on new commitment to partnership that delivers sustainable value, a new culture to design a quest to be a global company of choice.

On his part, the Minister of state of Petroleum resources, Timipre Sylva, said it is a landmark achievement and victory for Nigeria alongside the signing of the Petroleum industry Bill.

Nigeria lost $50 billion worth of investments waiting for PIA to sign, as Nigeria got only 4% of Oil and gas investments between 2015-2019. We are setting all this woes behind us and a clear path ahead of us.

“PIA assures Oil and gas companies of protection of investments” he added.

He said it also avails Nigeria of golden opportunities to strengthen institutions and attract much needed investments.

“Coming at a time moving towards gas as cleaner fuel, we cannot be happier and more excited, This development has demonstrated placing Nigerian oil and gas on path of growth, profitability and prosperity.

He added that the Transition of NNPC of into a fully Ltd entity, will operate as profitable commercial entity and declare dividends to shareholders, and show capacity and accountability.

“Today, I have no doubt that the leadership of this brand new company is super charged to meet the high expectations” he added.




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