By Yange Ikyaa
The Nigerian National Petroleum Company (NNPC) Limited is set to become the largest capitalized company in Africa, Mallam Mele Kyari, who is the Company’s Group Managing Director/Chief Executive Officer has said.
While delivering a keynote speech at the Nigerian Oil and Gas (NOG) Conference on Tuesday, July 5 in Abuja, the NNPC helmsman explained that although his company is no longer government-owned and is already being privately run, the official ceremonies to mark this landmark achievement will be held later on July 19.
In his own words, “on the 1st of July, we crossed over to a limited liability company, both technically, financially and in every aspect. Not only that, on the 19th of July, I am inviting all of, I will send invitations to very many of you in order for all of you to be present, and to know that Mr. President will unveil the NNPC Limited to all of us on the 19th of July.
“The meaning of this to our industry is that you are going to have a partner of choice, a partner that will support you, a partner that will be the largest capitalized company in Africa.”
Kyari also assured that NNPC will remain a partner that will be known for best practices in everything that one could think of because it is going to be a CAMA company, and will become another Shell or another Waltersmith. That means that decision-making will be easier and financing will also be easier.
According to him, “NNPC is here to be a partner of choice. We will be the biggest capitalized company in Africa, we will be the partner that will focus on the commercial value of every engagement that will do, and we will be the biggest indigenous oil and gas company and therefore there is no distinction between NNPC and the rest of the partners that are here in this place.
“And as you are all acquiring assets, we will also acquire the best of assets as much as possible in order to build our asset base and, then, those that we can’t manage for our scale, we will give it to you.”
