NNPCL moves to attract $60bn in fresh investments

FAVOUR  ISHEMBER, Abuja

The GCEO, NNPC Ltd., Engr. Bashir Bayo Ojulari has revealed that the company aims to ramp up oil and gas production and expand the nation’s refining capacity, with a goal of attracting at least $60 billion in fresh investments.

Ojulari, who dropped this hint during a courtesy visit of the Executive Secretary/CEO of the Nigeria Extractive Industries Transparency Initiative (NEITI), Dr.Orji Ogbonnaya to the NNPC Management at the NNPC Towers in Abuja, emphasized the importance of strengthened partnerships with operators, government agencies, and accountability institutions like NEITI in achieving the company’s targets.

In a press release issued to Daily Champion and signed by the Company, the NNPC Boss assured that the company will sustain its collaboration with NEITI to enhance openness and strengthen corporate governance.

Ojulari noted that NNPC Ltd. has reinstated the publication of monthly financial and operational reports and strengthened its internal reporting structures to ensure greater accountability.

Ojulari expressed his commitment to full compliance with NEITI principles and global EITI standards, and pledged to seek NEITI’s guidance in deepening transparency.

“In terms of full compliance to NEITI principles and global EITI standards, you have my full commitment. We will look to your guidance as we deepen this.

We are already doing a lot of internal transformation to deepen transparency in our operational reporting and performance reviews,” Ojulari said.

The release reads in part “The company is undergoing internal transformation to deepen transparency in operational reporting and performance reviews.

Ojulari assured that NNPC Ltd. is fully prepared to provide comprehensive data for the 2024 and 2025 audits, and will leverage technology to ensure efficiency and timeliness.

The company recognizes the need to sustain transformation and investor confidence to achieve its goals.

Earlier, according to the release, Dr. Orji Ogbonnaya Orji, expressed confidence in the leadership of the Nigerian National Petroleum Company (NNPC) Ltd., under the guidance of Engr. Bashir Bayo Ojulari.

During a courtesy visit to the NNPC Management at the NNPC Towers in Abuja, Orji commended the company’s vision and commitment to reforms, transparency, and accountability.

Orji expressed confidence in the NNPC management’s ability to deliver on ongoing reforms and set new benchmarks for corporate governance in Africa’s extractive industry.

The NEITI head emphasized the importance of transparency, accountability, efficiency, and civic engagement in restoring public trust and safeguarding the company as Nigeria’s gre
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