Animashaun noted that commercial efficiency was one of the major objectives of a new NOC that the passage of the PIB would drive.

He said that Nigerian government must ensure that the new NNPC after the passage of the PIB would be fully capitalized to meet the global standards.

Animashaun further called for the recruitment of international expertise to the New NOC at the board and management levels.

He said that the current NNPC board as announced by President Muhammadu Buhari had no expert that could help to drive their discussion to bring necessary needed ideas to drive efficiency of the corporation.

“Some of the new members of the board are successful businessmen, but not oil and gas experts this does not give confidence to the industry.

“Like other oil nations, they have heads of International Oil companies, IOCs, as their board members and they help to make excellent decisions that will help growth and development in their NOCs,’’ he said,

He noted that for Nigeria to experience needed transformation in the NNPC, it must pass the necessary law like the PIB.

He also advised that there was the need to focus on developing the strength of NNPC, which he said was on the upstream and provide strategic policy direction for it to have energy transition plan.

“Clarity of Government Mandate will inevitably mean Clarity of NOC mandate.

“There is need to clarify governments’ mandate – clarity of government’s mandate reflects in operational effectiveness and management of subsidiaries,’’ he said.

According to him, refineries cannot perform optimally or profitably if subsidy is not removed.  – NAN

– June 11, 2020 @ 2:55 GMT |