RESEARCH, INNOVATION DRIVING NNPC’S TRANSFORMATION – OLALEKAN OGUNLEYE
Mr. Olalekan Ogunleye, the executive vice president, Gas, Power and New Energy, Nigerian National Petroleum Company Ltd (NNPC), has highlighted transparency, accountability, research, technology, and innovation as pivotal drivers of the ongoing transformation within the organization.
Ogunleye revealed this during a panel session hosted by NNPC Ltd at the 2024 CERAWeek Conference in Houston, United States, on Wednesday.
During the session, which addressed the theme, “Africa’s Energy Future: Access, Investment & Sustainability,” Ogunleye emphasized that under the leadership of Mr. Mele Kyari, NNPC has embraced modern technology to enhance its operations, creating significant value and fostering competitiveness globally.
He noted that since the enactment of the Petroleum Industry Act (PIA) in 2021, NNPC Ltd has evolved into an integrated commercial entity, prioritizing transparency and accountability, essential elements for its planned Initial Public Offering (IPO).
“Over the last five years, NNPC Ltd has been championing transparency, accountability, and performance excellence. We are setting high standards on this journey,” remarked Ogunleye.
He emphasized the commercial significance of transparency and accountability, as they enhance an organization’s appeal to partners and potential investors.
Ogunleye expressed NNPC Ltd’s commitment to becoming IPO-ready, anticipating a successful and groundbreaking IPO once achieved.
Regarding NNPC Ltd’s future outlook, Ogunleye described it as promising, highlighting the company’s position as Africa’s largest energy firm with vast resources and market influence. He reiterated NNPC’s dedication to enhancing shareholder value by continually improving processes to meet global standards.
Gas, Ogunleye emphasized, will play a crucial role in Africa’s development, serving as a catalyst for economic growth and improved living standards. He urged all stakeholders to promote gas utilization to bolster the continent’s economic and industrial prospects.
NNPC Ltd, Ogunleye stressed, remains at the forefront of Nigeria’s gas commercialization efforts and flare elimination, affirming the company’s unwavering commitment to gas development and commercialization.
Joining Mr. Ogunleye on the panel were energy experts Daniel Berkove, Senior Advisor, S&P Global; Emmanuel Mugagga, Chief Financial Officer, Uganda National Oil Company; and Benjamin Kweku Acolatse, Deputy Chief Executive Officer (Finance and Administration), Ghana National Petroleum Corporation.
Source: Techeconomy
