Connect with us

General news

NNPC Weekly: Coy begins operation as limited liability entity July 1

Published

on

 The activities of the Nigerian National Petroleum Company Limited NNPC Ltd for the new week started with a cheering news that the company would begin operation on July 1 as a limited liability company The operation as a limited liability company is under the Companies and Allied Matters Act CAMA and would commence upon the hellip
NNPC Weekly: Coy begins operation as limited liability entity July 1

NNN: The activities of the Nigerian National Petroleum Company Limited (NNPC Ltd.) for the new week started with a cheering news that the company would begin operation on July 1 as a limited liability company.

news headlines

The operation as a limited liability company is under the Companies and Allied Matters Act (CAMA) and would commence upon the signing of the assets transfer documents by the Ministers of Petroleum and Finance the same day.

news headlines

The development is in line with the provisions of the Petroleum Industry Act (PIA).

news headlines

Group Managing Director (GMD) Executive Officer (CEO) of NNPC Ltd, Malam Mele Kyari, said at an engagement session with business leaders across the company’s value chain in Abuja that they were working to comply with the provisions of the PIA.

He said NNPC is doing everything possible to ensure compliance with the provisions of the Petroleum Industry Act (PIA) with regards to guidelines and timelines for action.

Kyari said that the new company would become operational with the transfer of verified assets from the Corporation to the NNPC Ltd. by the Ministers of Petroleum and Finance.

He explained that with the level of assets available combined with the new fiscal regime, NNPC Ltd. was set to become the number one energy company in Africa, noting that global brands interested in doing business with the new NNPC Ltd. needed to be sure of the company’s asset base.

On the objective of the session, Kyari stated that it was organised to engage business leaders on issues of change management strategies required to achieve the new business realities as a limited liability entity.

He added that the success or otherwise of the company depends heavily on how the change is managed.

In his presentation, the Chairman of the NNPC PIA Implementation Team and Group Executive Director, Downstream, Mr Yemi Adetunji, said that all was set for the presidential unveiling of the NNPC Ltd., scheduled for July 19.

OPEC Secretary-General, Dr Mohammad Barkindo

Visit us on for more details.

NewsSourceCredit: NAN

shop bet9ja mobile com

NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. We are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and we strive diligently to ascertain the truth in every news report. Contact: editor @ nnn.ng. Disclaimer.