Group Managing Director of the corporation, Mallam Mele
Kyari, while swearing in the new board members in Abuja, charged them to
explore all options to bring an end to the current challenge of petroleum
products importation.
A statement by the Group General Manager, Group Public
Affairs Division, Mr. Garba Muhammad, quoted Kyari, who is also Chairman of the
NGRL board, as having challenged members of the board to focus on profitability
in order to remain afloat and avoid liquidation.
Kyari stated, “As a business, this is a big opportunity for
us and this company’s balance sheet must change positively. Going forward, with
the Petroleum Industry Act (PIA), I can tell you that if you continue to post
negative for three years, you are out. So, there is really no excuse.”
He urged the board and management team of the new company to
set up a proper structure with the required skills, technology and finance to
drive the company’s operations, adding that he is optimistic that the company
would be able to achieve its mandate.
Kyari said, “Our company must grow and we can’t do well
except we are able to process our production, whether it is the liquid or gas.
If we don’t monetise it then we have done nothing. This is really a new chapter
and we are committed to making it work.”
The NNPC helmsman stated that all the corporation’s
initiatives in the areas of new refineries, condensate refineries and equity
acquisition in credible private refineries were geared towards ensuring energy
and security for the country.
In his remarks, Alternate Chairman of the board and Group
Executive Director, Refinery and Petrochemicals, Mr. Mustapha Yakubu, declared
that the operations of the company would be guided by the principles of cost
effectiveness in line with the new Act, noting that profitability would be the
key focus.
Speaking also, Group General Manager, Greenfield Refineries
and Project Division (GRPD) and Managing Director of the NGRL, Mr. Bege Talson,
disclosed that the division was working with third party investors to establish
greenfield, modular and condensate refineries with a combined capacity of
250,000 barrels per stream day
Other members of the board include: Group Executive
Director, Finance and Accounts, Mr. Umar Ajiya; Managing Director of the
Nigerian Gas Company (NGC), Mr. Oluwaseyi Omotowa; and Managing Director of
NNPC Retail, Mrs. Elizabeth Aliyuda.
Listed also as members are Managing Director of the Nigerian
Petroleum Development Company (NPDC), Mr. Muhammad Ali-Zarah; and Tolulope Olubommo,
who is to act as Company Secretary and Legal Adviser.
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