Business

Baru: NNPC on Path of Sustainable Growth

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has said that the corporation was on a path of sustainable growth with a number of critical projects that would impact the industry value chain.

This was contained in a statement by the NNPC’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, which quoted the GMD to have said that “the expected results of today’s effort would surpass current milestones.”

According to the statement, Baru, who spoke in Abuja yesterday, during the inauguration of a compendium produced by the Corporate Services Directorate of the NNPC, attributed the feat to the effective management strategy adopted by the current leadership of the corporation.

He expressed satisfaction at the level of achievements recorded through the 12 Business Focus Areas (BUFA), a strategy guide adopted by NNPC Management under his watch, pointing out that the corporation maintained its lead as the largest supplier of gas to the nation’s power sector. 

“NPDC production has grown in leaps and bounds; NNPC is now the largest gas supplier to the power sector and steady progress is being made on frontier exploration with the spud-in of Kolmani River-II Well”, Bar said.

The GMD said with the taming of security challenges and the commencement of the rehabilitation of the refineries and pipeline depots across the country, the corporation was on the right track to continue to add value to the national economy.

“Security challenges that had hampered exploration and production activities have been tamed; new business models have been developed across NNPC businesses, leading to phenomenal boosts in productivity and lessening of cash calls burden on government, achieved through alternative funding arrangements we developed,” he stressed.

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