By Adewole Kehinde
“Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishments toward organizational objectives. It is the fuel that allows common people to attain uncommon results.” – Andrew Carnegie
Mele Kyari is a trailblazing CEO known for his unshakeable dedication to excellence. As Group CEO of Nigerian National Petroleum Company Limited, his outstanding performance history at NNPCL is evidence of his strategic acumen, openness, and responsibility. Nigeria’s oil and gas industry has been revolutionised by Kyari, who has effectively turned NNPCL into a lucrative and elite enterprise despite many obstacles.
Kyari has an impressive history in crude oil marketing, and his knowledge has been crucial to NNPCL’s success. Notably, he successfully oversaw federation entitlements, guaranteed national energy security, and enhanced the Direct Sale of Crude Oil and Direct Purchase of Petroleum Products (DSDP) arrangement in 2015 while serving as Group General Manager of the Crude Oil Marketing Division. Nigeria’s economic development and progress have been greatly aided by Kyari’s outstanding leadership and accomplishments.
Mele Kyari’s plan for the Nigerian National Petroleum Company Limited (NNPCL) is now evidently similar to President Bola Tinubu’s economic reforms in that it represents a future course that has the potential to transform Nigeria’s oil industry. Kyari’s emphasis on reform and transparency does demonstrate an intention to revive the sector and fortify the country’s economic base in light of recent events.
NNPC has seen unheard-of financial success under Mele Kyari’s direction, announcing its first profit in forty-five years in 2020 and continuing to turn a profit in the years that followed. By regularly releasing audited financial accounts, the business has also demonstrated exceptional transparency.
The released 2023 audited financial statement showcases NNPC’s remarkable growth, with a net profit of N3.3 trillion, an N749 billion increase from the previous year. This follows a steady upward trend, from a loss of N803 billion in 2018 to profits of N287 billion in 2020 and N674.1 billion in 2021.
NNPC’s revenue surged to N24 trillion in 2023, up from N8.81 trillion in 2022, with the company declaring a dividend of N2.1 trillion to shareholders. This exceptional fiscal performance is a testament to Kyari’s strategic foresight and operational resilience.
Key factors contributing to this success include the Petroleum Industry Bill, which enhanced government revenue from production-sharing contract arrangements and resolved disputes with international oil companies. Kyari’s exemplary leadership has had a profound impact on NNPC’s performance and reputation, cementing his legacy as a transformative leader in the oil and gas industry.
Under Kyari’s leadership, NNPCL recently settled a $2.4 billion debt with international oil companies (IOCs). This is a long-standing financial burden that greatly weighed down Nigeria’s oil sector. So, clearing it represents an end to years of financial obligation, so that NNPCL is now positioned as a debt-free entity, fully ready for investment and sustainable growth.
Kyari’s achievements quite align with Tinubu’s reformative approach in how they weave around economic independence with efficiency. The complete removal of fuel subsidies, although initially challenging, liberated resources and allowed NNPCL to settle its debts and can be said to have created the foundations for a more stable economic landscape.
Kyari has always been a prominent figure in the Nigerian oil industry, having held key positions under multiple administrations. His extensive experience and insight into Nigeria’s energy dynamics have earned him the trust of various presidents. It is the same now as it was in the past when he steered NNPC into becoming a limited liability company, thereby improving its financial stability and operational efficiency.
The recent milestone of debt clearance ranks a bit higher in terms of achievement in that it opens new opportunities for NNPCL to expand its core activities. So, Nigerians can expect things like improved gas infrastructure and expanded renewable energy efforts, all things that show that Kyari has strong foresight and understands the broader economic potential for Nigeria as a regional energy leader.
The nation’s four failing refineries had been hovering like a sword of Damocles for twenty years, but Mele Kyari’s successful modernisation and rehabilitation of the Port Harcourt refinery broke the curse. Even his assurances that he would complete the project while construction was in progress did not prepare Nigerians for the announcement that the refinery had finally resumed operations on November 26, 2024. After all, similar promises had been made and not fulfilled by earlier administrations.
Kyari on Monday announced the resumption of some operations at its Warri oil refinery after almost a decade of shutdowns, one of a string of long-running failures that have left Africa’s largest crude exporter importing most of its fuel.
The government has promised to revive its moribund refineries, which have been hit by years of neglect, damage, and accusations of mismanagement.
“This plant is running. We have not completed 100%,” Mele Kyari, GCEO of NNPC, said during a tour of the facility with government officials, regulators, and journalists.
The 125,000 barrel-per-day (bpd) refinery—whose closure in 2015 was blamed on disrepair and crude shortages—was now running at 60% capacity, thanks to Mele Kyari and its management team.
As Kyari expands on these outstanding accomplishments and leads the Nigerian National Petroleum Company Limited (NNPCL) to even greater heights, I implore all Nigerians to stand with him, supporting and encouraging him. The nation’s oil and gas industry is positioned for previously unheard-of success and expansion thanks to his vision and experience.
Adewole Kehinde is the publisher of Swift Reporters. 08166240846. @kennyadewole. kennyadewole@gmail.com
