NNRC Urges Speedy Passage Of PIB To Boom Oil Business In The Country.
The Nigerian National Resource Charter (NNRC) says the federal government must ensure that the new NNPC after the passage of the PIB would be fully capitalized to meet global standards.
” Reforms that will make the Nigerian National Petroleum Corporation (NNPC) as a National Oil Company to be commercially viable, the federal government must pass the Petroleum Industry Bill (PIB) to help drive business effectively in the sector.
Principal Partner NNRC Najim Animashaun made this known to newsmen at an online Masters class on NOC Reforms Engagement Series organised by NNRC in Abuja.
“commercial efficiency was one of the major objectives of a new NOC that the passage of the PIB would drive,
He also said there is need to clarify governments’ mandate while noting that clarity of government’s mandate reflects in operational effectiveness and management of subsidiaries.
“The current NNPC board which was announced by the Presidency has no expert that could help drive their discussion to bring necessary needed ideas to drive efficiency of the corporation, Animashaun called for the recruitment of international expertise to the New NOC at the board and management levels, he said.
He stressed that some of the new members of the board are successful businessmen, but not oil and gas experts adding that this does not give confidence to the industry.
He also revealed the removal of subsidy, noting that refineries cannot perform optimally or profitably if subsidy is not removed.
Animashaun stated that for Nigeria to experience needed transformation in the NNPC, it must pass the necessary law like the PIB.
“The there was need to focus on developing the strength of NNPC, which he said was on the upstream and provide strategic policy direction for it to have energy transition plan.he added.