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Senate commends NNPC for engendering competitiveness

NNPC Headquarters

…Pledges support for frontier exploration

The Senate Committee on Petroleum Resources (Upstream), has commended the Nigerian National Petroleum Company Limited (NNPC Ltd) for repositioning the nation’s oil and gas industry into a competitive business environment.

The Chairman of the Committee, Bassey Albert Akpan, gave the commendation when he led members of the Committee on an oversight visit to the NNPC Towers, Abuja, on Tuesday.

This was contained in a statement by Group Public Affairs Division, Group General Manager, NNPC, Garba Deen Muhammad.

Akpan said the visit offered the lawmakers the opportunity to have first-hand information about the Management’s actions in transitioning from a Corporation into a limited liability company in compliance with the Petroleum Industry Act (PIA).

He said: “We commend the effort of Mallam Mele Kyari and his team towards repositioning NNPC post-PIA. We’ve been told about the challenges, the expectations, projections and visions for NNPC. We are very impressed that the effort of the National Assembly in passing the PIA is yielding positive outcomes.”

He said the Committee would look into the issue of funding for frontier exploration to ensure that the objective of boosting exploration and production in basins in the next five years is met.

Earlier, the Chief Executive Officer, NNPC Ltd, Mele Kyari, informed the lawmakers that the Company is well-primed to meet the growth trajectory envisaged in the PIA, stressing that it has received very positive commercial assurances from investors and partners across the globe.

We’ve been told about the challenges, the expectations, projections and visions for NNPC. We are very impressed that the effort of the National Assembly in passing the PIA is yielding positive outcomes.

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