…….APC group lauds Tinubu for renewing NNPCL boss’s tenure
The Confederation of All Progressives Congress (APC) Support Groups on Tuesday commended President Bola Tinubu for renewing the appointment of Malam Mele Kyari as the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL)
The Director-General of the group, Dr Kailani Muhammad, who gave the commendation at a news conference in Abuja, attributed Kyari’s tenure extension to the feats he recorded in the petroleum industry particularly in the oil and gas sector.
Muhammad said that Mele Kyari’s records of achievements had positively impacted the Nigeria’s economic strides for development.
“Today marks a new dawn in the Nigeria’s petroleum industry as the baton of leadership mantle continues uninterrupted in the hands of Malam Mele Kyari, the GCEO of the Nigerian National Petroleum Company Limited (NNPCL).
“We are celebrating this feat, not just because Mele Kyari remains in the saddle, we are celebrating because, Mele Kyari has become a composite factor in the oil and gas sector in Nigeria.
“His commitment to the development of the sector, will ever remain a footprint for generations to come as he remains at the helm of affairs at NNPCL,” group’s director-general said.
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According to him the extension of Mele Kyari’s tenure as the GCEO, shows clearly that, President Bola Tinubu, is dedicated to his Renewed Hope Agenda, where round pegs are kept in round holes and square pegs vice- visa for optimal results.
The director-general recalled that when Kyari came on board as the Group Managing Director (GMD) of the NNPC, his efforts yielded positive achievements in the Upper Benue Trough and the Gongola Basin in North Eastern Nigeria, particularly the Kolmani River fields.
He added that Kolmani integrated oil field development project located in Alkaleri local government area of Bauchi State, where about over four billion of crude oil deposit was located.
“For the first time in over four decades, Kyari broke a 43-year- old jinx in the NNPC by updating and publishing the 2018 Audited Financial Statement (AFS) for the year ended December 31, 2018.
“To consolidate on the landmark achievement, he quickly followed up with the publication of the company’s 2019 AFS, which showed a remarkable loss reduction to just N2.3 billion, with a declaration of a N287 billion Profit After Tax (PAT).
“Highlights of 2019 AFS included a 22 percent decline in general administrative expenses, and a 99.7 percent drop in NNPC’s loss profile, from N803 billion in 2018 to N1.7 billion.
“For 2021 fiscal year, profit after tax stood at about N674.1 billion, with profit growing by about N387 billion, or 134.8 percent, from about N287 billion realised in 2020, followed by regular publication of the Monthly Financial and Operational Report of the NNPC, in 2016.”
Muhammad said that Kyari was a major factor in the resolution of the issues that delayed the passage of the Petroleum Industry Bill (PIB), by the National Assembly for almost two decades.
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“Since the unveiling of the Kolmani field development, Kyari has spearheaded more frontier exploration activities across Niger, Nasarawa, Sokoto, Borno, Yobe, Adamawa, Bauchi and Gombe states in the northern part of the country.
“Through Kyari, the NNPCL has a proven gas reserve base of 208.62 trillion cubic feet (TCF). He also plans to increase gas reserves to 220 TCF in less than 10 years and 250 TCF thereafter.
“In spite of the operational environment that has posed a huge challenge, Kyari is determined to ensure the country realises these targets,” he said.
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He said that the GCEO also enhanced the creation of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to reassure the international investors of government’s commitment to the development of the sector.
…….APC group lauds Tinubu for renewing NNPCL boss’s tenure
By Aderogba George
(NAN)
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