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NNPCL, a transition long overdue -BMO  

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  NNPCL a transition long overdue BMO gt The Federal Government s inspired transition of the Nigeria National Petroleum Corporation NNPC to a private limited liability company is a landmark achievement the Buhari Media Organisation BMO says The group said that for many years including during the military era efforts were made to unbundle the behemoth known previously as NNPC and make it run more efficiently as a company but to no avail In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke BMO said this inability was a result of a lack of political will on the part of the previous administrations It therefore commended the President Muhammadu Buhari administration for showing visionary leadership and having the political will to do what previous administrations could not do by not only enacting the Petroleum Industry Act PIA but going a step further to support and facilitate the transformation of NNPC into Nigeria National Petroleum Company Limited NNPCL We also note that with the transition to a limited liability company there would be transparency accountability and profitability in the running of the organisation Also as a company that will henceforth operate under the Companies and Allied Matters Act NNPCL will comply with the laws guiding private companies operation while the opaqueness previously associated with its operation will be a thing of the past it said The group commended the Buhari administration for keeping its promise of making NNPC work in the interest of the Nigerian people ABI NewsSourceCredit NAN
NNPCL, a transition long overdue -BMO  


NNPCL, a transition long overdue –BMO  

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Federal Government

>The Federal Government’s inspired transition of the Nigeria National Petroleum Corporation (NNPC) to a private limited liability company is a landmark achievement,  the Buhari Media Organisation (BMO) says.

naija news 24

The group said that for many years, including during the military era, efforts were made to unbundle the behemoth known previously as NNPC and make it run more efficiently as a company, but to no avail.

naija news 24

In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, BMO said this inability was a result of a lack of political will on the part of the previous administrations.

It, therefore, commended the President Muhammadu Buhari administration for showing visionary leadership and having the political will to do what previous administrations could not do, by not only enacting the Petroleum Industry Act (PIA), but going a step further to support and facilitate the transformation of NNPC into Nigeria National Petroleum Company Limited (NNPCL).

“We also note that with the transition to a limited liability company, there would be transparency, accountability and profitability in the running of the organisation.

“Also, as a company that will henceforth operate under the Companies and Allied Matters Act, NNPCL will comply with the laws guiding private companies’ operation, while the opaqueness previously associated with its operation will be a thing of the past,” it said.

The group commended the Buhari administration for keeping its promise of making NNPC work in the interest of the Nigerian people.

ABI
 

NewsSourceCredit: NAN

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