By Adewole Kehinde
My attention was drawn to the editorial in the Daily Trust titled “NNPC Must Come Clean With Nigerians” by a friend who has been following my write-ups on the Nigerian National Petroleum Company (NNPC) Limited.
What inspired my write-up is the part of the editorial that said, “It would be difficult to find any Nigerian organization that has failed Nigeria more than the NNPC.” In fact, the NNPC is a failure even to itself. “
Since he assumed office as the GMD/CEO of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari has transformed the fortunes of the petroleum company from a position of loss-making into a profit-making venture.
There is no doubt that Mallam Kyari has been recognized by many national and international organizations following his distinguished leadership role and sterling achievements in the Nigerian National Petroleum Company (NNPC) Limited, which are all evident through the various reforms he instituted in the Company through transparency and accountability.
Mele Kyari has continued to seamlessly transform the operations of the Nigerian National Petroleum Company (NNPC) Limited, including deepening domestic gas utilization, rehabilitation of the nation’s refineries, and public disclosure of NNPC accounts, the first in NNPC’s 45 years of existence.
Mele Kyari’s greatest achievement, no doubt, was turning around the fortunes of the Nigerian National Petroleum Company (NNPC) Limited, from a loss of position, into a profit-making entity.
Under Kyari’s watch at the NNPC, the company declared a profit after tax of N287bn in 2020 after losses were reduced from N803bn in 2018 to N1.7bn in 2019. This is unprecedented in the history of the Nigerian National Petroleum Company (NNPC) Limited.
Mallam Kyari has consistently played a huge role in the enactment of the Petroleum Industry Act (PIA) and with the coming of the legislation, the Nigerian National Petroleum Company (NNPC) Limited is now well-positioned to operate efficiently, like its global peers.
In the last three years, the Nigerian National Petroleum Company (NNPC) Limited has automated its processes and systems; reduced its costs of operations, and focused on delivering value to Nigerians, in line with Kyari’s management vision of Transparency, Accountability, and Performance Excellence (TAPE).
There is no doubt that the enactment of the Petroleum Industry Act (PIA) has placed a huge responsibility on the Nigerian National Petroleum Company (NNPC) Limited to do things differently and be much more accountable to its shareholders, the over 200 million Nigerians.
As a result of the PIA and from my perception, the Nigerian National Petroleum Company (NNPC) Limited, under the management of Mele Kyari, would not only shed some of its toxic liabilities but be the largest and most capitalized company in the whole of Africa and, potentially, the most profitable on the entire continent.
Kyari, no doubt, will ensure that the Nigerian National Petroleum Company (NNPC) Limited becomes a commercially viable entity and a multi-billion-dollar company that will continuously deliver value to its shareholders, the over 200 million Nigerians.
On a final note, the Daily Trust Editorial will spur Mele Kyari and his management team to work harder towards becoming an international national oil company that is on par with its global peers.
Adewole Kehinde is the Publisher of Swift Reporters and can be reached via 08166240846, 08123608662 kennyadewole@gmail.com
