There Is Transparency Now In NNPC – GMD

The Group Managing Director (GMD) of the Nigeria National Petroleum Corporation (NNPC), Maikanti Baru has said that there is now transparency in the government owned company.
Baru who stated this during a speech at a stakeholder engagement with media executive on Thursday added that since coming on board as the GMD in July last year, the corporation has recorded milestones in line with its setup objectives.
“Today our monthly operational and financial reports are always in the public sphere for all to see. It will interest you to know that it was this new wave of openness and transparency that has earned the NNPC rave reviews among Nigerians and other stakeholders,” he said.
He further stated that In December last year, the NNPC Website & Social Media platforms won the 2016 Phillips Consulting/Web Jurists Awards for being the best among Federal Government Parastatals in the entire country. Adding that recently, we have opened up our bids and contracting processes to the entire world. This openness has also earned us wide applause, further justifying our commitment to due process, fairness, transparency, accountability and above all integrity.
According to him through our vision of 12 Business Focus Areas (BUFA) which is tagged “Moving NNPC Forward Together”, we have kick-started the implementation of policies that will emplace the Corporation on the path of growth and profitability. Our modest efforts through collaboration with relevant stakeholders within the downstream sub-sector have resulted in ensuring the availability of petroleum production.”
“In the spirit of enshrining accountability, we have taken far-reaching measures towards recovering over 130m litres of missing PMS (worth N14bn), stored in the facilities of some depot owners whom we have throughput agreement with.”
“One of these operators has fully complied by returning the  expropriated volumes while we have recovered products worth over N3bn  out of about N11bn from the second operator. Adding that aside  increasing the nation’s oil and gas reserves to 37bn and 192Tcf respectively, we have also re-started exploratory activities in the Gongola Basin with the aim of further growing our oil and gas reserves, taking advantage of low oil prices which make inland exploration cost bearable.
Source: News

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