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NNPC Restates Commitment To Energy Transitioning
The Group Managing Director of the Nigerian National Petroluem Company Ltd, Mele Kyari has said that the transformation currently being implemented at the NNPC will position it to take advantage of the energy transitioning opportunities in the global environment.
The NNPC GMD said this at the first National Extractives Dialogue in Abuja, co-hosted by the Nigeria Extractive Industries Transparency Initiative (NEITI) and Spaces for Change (S4C), an indigenous civil society organisation, with support from the Ford Foundation.
Kyari, who was represented by the Group General Manager, Governance, Risk & Compliance, Mr. Chris Akamiro, noted that the aftermath of COP26 in Glasgow had shown that the world is committed to energy transition.
He said, “I would like to assure you that as NNPC transitions to a CAMA company, we are restructuring our businesses to take advantage of the opportunities that energy transition will bring forth,” Kyari stated.
“As the company commences the implementation of its revised strategy, the NNPC GMD stressed that the company will use its large gas resource as transition fuel to aid the process.
“We are committing our resources for the next decade, which is tagged the decade of gas to explore and produce more gas relative to oil, to power Nigeria and the international community as we transit away from hydrocarbons.”
Kyari said that the NNPC is being run under his leadership in an open and transparent manner and is now more responsive to audit requests and implementation of audit recommendations.
He added that NNPC in 2020 began releasing the financial statements of the group and its subsidiaries, assuring that the 2021 financial statement of the company and its subsidiaries will soon be published.
“As part of our transparency journey, we have understood that disclosing contracts supports open, fact-based dialogue that can help build trust, reduce conflict, and reinforce a company’s social licence to operate.
“We have therefore, since November 2021, been working with NEITI as part of a joint committee with other stakeholders to implement contract transparency in Nigeria,” he stated.
