TheCable

Mele Kyari, chief executive officer of the Nigerian National Petroleum Company (NNPC) Limited, says the Petroleum Industry Act (PIA) provides business opportunities that will enable the company earn more revenue for the country.

Kyari said this while addressing staff of the organisation in a townhall meeting held at NNPC Towers, Abuja, at the weekend.

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.

According to a statement by Garba Deen Muhammad, NNPC spokesperson, Kyari added that the PIA had given the company a wide room to make progress.

“The PIA had put all money-making options on the table; it is up to us to take advantage of it,” Kyari was quoted as saying.

He said as a result of the new legislation, NNPC Ltd 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.

Kyari asked the employees to ensure that the company becomes a commercially viable entity and a multi-billion-dollar company that will continuously deliver value to its shareholders — the over 200 million Nigerians.

Last week, the Securities and Exchange Commission (SEC) disclosed plans to promote policies that would incentivise major companies such as Dangote Refineries and the NNPC to list their shares on the stock exchange.