President Muhammadu Buhari has unveiled the Nigerian National Petroleum Company Limited, assuring that the new company will guarantee energy security in the country.
Buhari was accompanied by the Senate President, Ahmad Lawan, Speaker of the House of Representatives, Femi Gbajabiamila among other dignitaries at the State House Conference Centre in Abuja, on Tuesday.
President Buhari described the NNPC Limited as the largest national oil company in Africa.
He said the new enterprise would also support sustainable growth across other sectors of the economy as it delivers energy to the world.
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“We are transforming our petroleum industry, to strengthen its capacity and market relevance for the present and future global energy priorities,” the President was quoted as saying in a statement by his spokesman, Femi Adesina.
The President stated that NNPC Limited will sustainably deliver value to its over 200 million shareholders and the global energy community; operate without relying on government funding and be free from institutional regulations such as the Treasury Single Account (TSA).
The President, therefore, assured stakeholders in the industry that Africa’s largest NOC will adhere to its fundamental corporate values of Integrity, Excellence and Sustainability while operating as a commercial, independent and viable NOC at par with its peers around the world.
He added that the company would focus on becoming a dynamic global energy company of choice to deliver energy for today, for tomorrow, and for the day days after tomorrow.