The Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, this morning held virtual conference meeting with the corporation’s workforce.
The town hall meeting, which is a routine platform where the GMD and top management members update staff on the activities of the corporation.
Valuechain gathered that the management of the corporation considers it important to touch base with its workforce after two weeks of working from home due to FG’s lockdown directives.
All staff members of the corporation worldwide expectedly joined the meeting, including the 1000 newly employed graduate trainees who joined the corporation’s workforce early last month.
Top on the agenda of the meeting was the impact and implications of COVID-19 on the activities of the corporation.
Considering the impact of the pandemic on the global economy, especially the oil and gas industry, nations are working round the clock to provide buffers that will mitigate its impact on business activities.
Going by experts’ forecast, the pandemic is already affecting issues such as: expenditures, debts, future income and assets/investments both at micro and macro levels of the global economy.
It would be recalled that recently the Federal Government was compelled by the situation to review its initial 2020 budget benchmark from $56 to $30 per barrel of crude oil.
The implication of this to government spending for the year is that many projects that are initially captured in the budget for execution will now wait for another year.
In a similar vain, many government MDAs will have to cut cost in order to remain afloat. A situation experts opined will have more devastating impact in the country’s private sector.