PIA: NNPC to generate more revenue for economic growth
As the Federal Government of Nigeria commenced full implementation of the Petroleum Industry Act (PIA), in earnest, the new legislation has been tipped to provide business opportunities which will enable the Nigerian National Petroleum Company (NNPC), earn more revenue that will boost the country’s economy.
Chief Executive Officer of NNPC Malam Mele Kyari disclosed this while addressing staff of the organisation in a townhall meeting held at the NNPC Towers, at the weekend, the meeting had staff outside the Corporate Headquarters (CHQ), participating virtually.
Kyari said as a result of the new legislation, NNPC 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.
Highlighting the significance of the PIA to the NNPC and by extension the Nigerian economy, he said the new legislation has raised shareholders’ expectations on the company, even as it has given it a wide room to make progress.
According to the him, the PIA had put “all money-making options on the table; it is up to the organisation to take advantage of it”.
The CEO charged employees of the organisation to ensure the company becomes a commercially viable entity and a multi-billion-dollar company that will continuously deliver value to its shareholders, the over two hundred million Nigerians.