Mallam Mele Kyari
…PIA has commercialised NNPC to deliver dividends to shareholders and enables its partners to prioritize energy security for the country.
…NNPC Limited endeavours to make Nigeria 5th gas producing country in the world.
-By Felix Douglas
The signing of the Petroleum Industry Act (PIA) into law provided a leeway for the new Nigerian National Petroleum Company Limited (NNPC), to be run as a private company without government interference.
At the Nigerian International Energy Summit (N.I.E.S), the Chief Executive Officer of the company, Mallam Mele Kyari, explained that NNPC Limited is transiting to be a commercially viable company.
Speaking to delegates at the energy summit, he said NNPC Limited is required by law to guarantee energy security for the country and its citizens. There is no other company that has such obligation that it must guarantee energy security for Nigeria.
“In the widest context, energy security means so many things which is not just about providing Premium Motor Spirit (PMS) and other petroleum products for the country but energy.”
It means that NNPC Limited must drive the road to prosperity in the country. “You cannot get to the position of prosperity without energy.”
Therefore, NNPC Limited, by implication is expected to drive economic growth of the country.
“It is not just an oil and gas company, it is an energy company that will enable the actualization of this goal.”
However, this can’t work except there is collaboration and right climate of doing business.
Kyari noted that the country worked assiduously to get the right regulatory framework in place for operators in the industry.
“In reality, getting the right regulatory framework for the oil industry since 1957 had been difficult.”
“But thank God prosperity was thrown at us and without a President Buhari, we would not have had a PIA because we all know that over the years that passage of the Petroleum Industry Bill (PIB) was resisted by the industry, independents, dependents and NNPC.
The belief was that people will lose power, control and business but now there is freedom in the industry.”
The NNPC CEO added that by all standards, the law is sufficiently competitive with sanctity of contract, it has commercialised NNPC that will deliver dividends to shareholders and enables its partners both independents and dependents companies with priority of energy security for the country.
The combination of these means that this company must operate oil and gas with fully automated standard, embarks on technology and recognized the necessity of energy transition which does not necessarily means moving towards renewables.
A company that will ensure that gas is utilized and bringing domestic gas infrastructure in place which is the backbone of the country. Gas will be accessible and transcends every part of Nigeria.
Kyari made it known that NNPC will work with its partners to monetise and have gas based industry with hub to deliver and enhance the power sector.
“This is possible and NNPC Limited is working on it.”
The Company is trying to make Nigeria the 5th gas producing country in the world. “This is our target and it is possible, the resources and will are there.”
We will not lose sight as a fact that Nigeria is a gas country and the new NNPC will be a millennium company with prosperity while meeting the requirement of the law to make it viable.
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