The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has signed performance agreements with his management team to ensure that all the Autonomous Business Units (ABUs) and Strategic Business Units (SBUs) of the state-owned company deliver on their mandates.
Speaking at the meeting, Dr. Baru said the Key Performance Indicators (KPIs) contained in the agreements would serve as guides to the Chief Operating Officers (COOs) to deliver tangible and measurable key deliverables in advancement of the management objectives of the NNPC.
The GMD stated that the KPIs would also serve as a management tool to gauge the performance of the Chief Operating Officers.
“Signing of the Key Performance Indicators (KPIs) is important because it will guide the COOs in their operations and when we reconvene next year to evaluate activities, the document will help us to see if what was signed corresponds with delivery”, Dr. Baru said.
The signing of the performance contracts was the highpoint of a two-day NNPC Second and Third Quarter (Q2&3) 2018 Management Steering Committee (STEERCO) meeting which commenced Monday at the NNPC Towers, Abuja.
The GMD noted that the NNPC Q3 STEERCO meeting was a platform to assess the health of the corporation and interact with top management with a view to providing solutions to move the corporation forward.
“Through SEERCO meeting we are able to note the various businesses of the corporation that are doing well, so that we encourage them to be better; those that are not doing very well, to enable us devise means to salvage them; and those beyond salvaging, we take a hard decision to shut them down in the interest of the corporation”, the GMD stated.
While commending the management team and other participants for their maturity, Dr. Baru charged the COOs to replicate the review exercise at their various Autonomous Business Units (ABUs) and Strategic Business Units (SBUs) and cascade outcome to all staff for efficient service delivery.
He applauded the Corporate Planning & Strategy Division (CP&S) for the quality of the programme, noting that at 41, NNPC needed a change in its operational strategies, especially with the imminent passage of the Petroleum Industry Governance Bill (PIGB), to remain relevant.
Also speaking, Group General Manager, CP&S Division, Mr. Bala Wunti, expressed satisfaction that the meeting was able to achieve its two key objectives of appraising past performance and setting targets for the coming business year.
“Like you heard from the GMD, there are two broad objectives – to appraise our performance for the fiscal year 2018 and to set targets for the 2019. I am highly delighted that those two broad objectives have been substantially achieved. We now have a performance contract against 2019 and also, been able to have a scorecard of each of our business units properly appraised and documented”.