By Modupe Gbadeyanka
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Bari, has thrown his full weight behind on the restructuring of the NNPC.
While receiving on Tuesday a delegation from the NNPC Retired Staff Association led by its President, Mr George Owarieta, in Abuja, the GMD said the ongoing reforms will place the state-owned firm on a long-term growth trajectory for the benefit of all stakeholders.
According to him, the restructuring was the surest way to sustainable growth and profitability.
“On restructuring of the NNPC, definitely there are benefits in the exercise both to the nation and to the organization itself.
“If we don’t take actions, we shall continue in the trajectory of declining revenues and increased deficit, a trajectory that will ultimately lead to no corporation at all.
“The trajectory that so many state-owned corporations had followed and they are no more or that it will lead to chaos are what I don’t think we would like the NNPC to follow,” Mr Baru told his guests.
The GMD stated that NNPC management, under his leadership, was working hard to block any identifiable leakage within the system to ensure that all resources are judiciously utilized for the benefit of all stakeholders and the nation at large.
He stated that the corporation would ensure that its restructuring plan aligned with that of the Federal Government for the benefit of all Nigerians.
Mr Baru called on the Retired Staff Association to make valuable contributions based on their wealth of experience to the successful implementation of the ongoing reforms in the Corporation for better results.
The GMD further said the agency was working round the clock to weather the storm in the wake of prevailing economic reality in the country.
Speaking earlier, the Chairman of the Association, Mr George Owarieta, applauded the management of the NNPC led by Mr Baru on the landmark achievements in the industry.
He expressed confidence in the ability of the current management of the corporation to discharge its fiduciary responsibilities effectively.
