Nigerian National Petroleum Corporation (NNPC) has saved over $3 billion from arbitrations, the Corporation’s Group Managing Director, Mallam Mele Kyari, has disclosed.
Mallam Kyari dropped the hint on Tuesday in Abuja when he engaged staff of the corporation in a Town Hall meeting that also involved the participation of the corporation’s outstation-staff.
The NNPC GMD gave kudos to the Management of the corporation’s Legal Division for the feat saying its due diligence accounted for gains made in that regard.
Speaking further at the town hall engagement, Mallam Kyari, urged the corporation’s workforce to redouble their efforts to ensure that the nation reaps bountifully from its vast hydrocarbon resources which the National Oil Company has the mandate to superintend.
He charged that it was imperative for the corporation to increase its level of efficiency, reduce cost and increase revenue across value chain of its businesses within the shortest possible period.
The GMD seized the opportunity of the event to update members of staff on the Corporations’ recent top management retreat which prescribed a five-step approach for the corporation to attain global excellence via the TAPE agenda (Transparency, Accountability and Performance Excellence).
The head of the state run oil company listed the steps to include: Well defined processes benchmarked to World-class Oil & Gas company requirements, Right cost structure that guarantees value realization and profitability, Goals, priorities and performance guarantee, Suitable governance structure for strategic business units and Entrenching team work and collaboration with all key stakeholders.
The NNPC GMD took stock of his tenure, noting that some remarkable successes had been recorded within the period.
