The chief executive officer of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari, has said Nigeria’s Petroleum Industry Act (PIA) will provide business opportunities that will enable NNPC earn more revenue for the country.
Kyari disclosed this while addressing staff of the organisation in a townhall meeting held at its corporate headquarters in Abuja.
Highlighting the significance of the PIA to the NNPC and by extension the Nigerian economy, Mallam Kyari said the new legislation has raised shareholders’ expectations on the company, even as it has given it a wide room to make progress. He said the PIA had put ‘all money-making options on the table; it is up to us to take advantage of it.’
He said, as a result of the new legislation, NNPC Ltd would not only shed some of its toxic liabilities but will be the largest and most capitalised company in the whole of Africa and, potentially, the most profitable on the entire continent.