The innovative reforms being implemented by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari is yielding positive results for Nigeria’s oil and gas sector, a member of the House of Representatives, Hon Philip Agbese has said.
Agbese (APC-Benue) is currently representing Ado/ Okpokwu/ Ogbadibo Federal Constituency at the House of Representatives.
Kyari who was appointed as the NNPC Boss on July 8,2019 has put in place robust operational blueprint that has reduced costs and improved profitability for the National Oil Company.
Shortly after his appointment, Kyari made his plans very clear for the Corporation which has now been transformed into a Limited Liability Company in line with the Petroleum Industry Act 2021.
Specifically, his plans centered around operational efficiency and transparency for the NNPC Limited.
Speaking on the impact of the GCEO in the oil and gas sector, Agbese said under Kyari’s Transparency, Accountability and Performance Excellence (TAPE) agenda, the era of opaqueness in managing the affairs of the NNPC has since ended.
He commended Kyari for his exceptional performance as the NNPCL Boss, adding that Kyari has overseen a remarkable turnaround in the oil company which was once the cesspit for corruption, fraud, and abuse of office.
The lawmaker said the NNPC CEO has spearheaded a transformative effort to revolutionize the way the nation produces and distributes its most vital resource.
According to Agbese, from the moment he assumed his position at the helm of affairs, Kyari was driven by a fierce sense of purpose and an unshakable commitment to excellence, implementing a series of bold and innovative reforms that have transformed the sector.
He said, “Under Kyari’s leadership, the NNPC has entered into a partnership with Italian oil company, Eni, to rehabilitate and upgrade the refinery, with a target of achieving full production capacity by 2023.
“Kyari has overseen the implementation of several innovative initiatives designed to maximize the efficiency and effectiveness of the NNPC’s operations.
“These include the establishment of a new trading subsidiary, the creation of a new crude oil marketing division, and the implementation of a new performance management system.
“Under the leadership of Mele Kyari, the company has taken significant steps towards enhancing accountability in the industry, by publishing monthly financial and operational reports.
“The NNPC has also embarked on a massive effort to increase domestic gas utilization, reduce its energy mix, and reduce its carbon footprint. This has involved the development of new gas infrastructure, the expansion of existing facilities, and the promotion of gas-based industries such as petrochemicals and fertilizers
“These efforts have yielded impressive results, with Nigeria now the largest producer of Liquefied Natural Gas (LNG) in Africa, and one of the top 10 producers globally.
“The nation’s gas reserves, estimated at over 200 trillion cubic feet, provide a huge opportunity for growth and development, and Kyari is determined to ensure that Nigeria takes full advantage of this potential
“Under his direction, the NNPC has launched several initiatives, including the Nigerian Petroleum Exchange (NPEX), a platform for trading Nigerian crude oil and other petroleum products, and the Nigerian Content Intervention Fund (NCIF), a $200 million fund aimed at supporting the development of local content in the industry.”
Under his leadership, he added that the NNPC has become a beacon of hope and a model of excellence for Nigerians.
Agbese said NNPC has revamped and upgraded its refining capacity, with the ultimate goal of achieving self-sufficiency in the production of petroleum products.
According to him, Kyari’s biggest legacy has been the approval of fuel subsidy removal which has already saved Nigeria over N1trn.
The lawmaker said Kyari would have ordinarily kicked against the move for the obvious benefits that come with it, noting that the NNPC GCEO chose national interests over personal gains – an act of patriotism, integrity, and commitment.
Agbese further described the 350MW first phase of the NNPC Ltd Gwagwalada Independent Power Project (GIPP) as the brainchild of Kyari.
The project is expected to generate between $700m and $800m annually for Nigeria in its first ten years of operation.
The GIPP project is led by NNPC Ltd in a joint venture with China Machinery and Engineering Corporation (CMEC) for the EPC, and General Electric (GE) for the Long Term Service Agreement.
It is designed to provide reliable electricity, strengthen Nigeria’s energy sector, and accelerate economic growth in the country.
He, therefore, said more upright and honest citizens like Kyari are needed to eradicate the endemic corruption in the oil and gas sector.
Agbese noted that the NNPC is very much on track toward sustainable growth and development.
He, however, urged President Bola Tinubu to appoint more Nigerians like Kyari into key positions of government to enable him deliver his renewed hope agenda.