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Energy

Just in: NNPC announces top management appointments as top official resigns

The NNPC has effected a major shake-up to enable the corporation to live up to its expectations.

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NNPC

The state-owned oil giant, the Nigerian National Petroleum Corporation (NNPC) has effected some major reorganization in the firm. They have announced some new appointments and redeployments as part of the ongoing efforts to strengthen and reposition NNPC for greater efficiency, transparency and profitability in line with the next level agenda of President Muhammadu Buhari’s administration.

This was disclosed in a press release by NNPC on Sunday, July 5, 2020, and signed by the corporation’s Group General Manager Public Affairs Division Dr Kennie Obateru.

In the statement released by the oil giant, Mr Adokiye Tombomieye, the Group General Manager, Crude Oil Marketing Division (COMD), is now the new Chief Operating Officer (COO), Upstream while Mr Mohammed Abdulkabir Ahmed, the Managing Director of the Nigerian Gas Marketing Company (NGMC), has been appointed the new Chief Operating Officer, Corporate Services, following the retirement of Engr. Farouk Garba Sa’id, last week.

READ ALSO: NNPC to consolidate footprint in shipping business

Dr Kennie Obateru stated that reorganization includes the redeployment of Engr. Adeyemi Adetunji, the Chief Operating Officer, Upstream, to the Ventures & Business Development Directorate as COO, following the voluntary resignation of Mr Roland Onoriode Ewubare, from the position last week.

The top-level staff movement also affected Sir. Billy Okoye who has been redeployed from the NNPC Downstream Company, NNPC Retail Limited, as Managing Director, to replace Mr Tombomieye as the Group General Manager, Crude Oil Marketing Division; while Mrs Elizabeth Aliyuda, the General Manager, Sales and Marketing NNPC Retail Limited, takes over from Sir Okoye as Managing Director.

Similarly, Mr Usman Farouk, Executive Director Asset Management and Technical Services at the Nigerian Gas Marketing Company (NGMC) takes over from Mr Ahmed as Managing Director.

READ MORE: 7 female executives under 40 in FinTech

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The statement from NNPC also explained that President Buhari has accepted the resignation of Mr Roland Ewubare, who was the immediate past Chief Operating Officer, Ventures and New Business Directorate of the National Oil Company while the retirement of the immediate past Chief Operating Officer, Corporate Services, Engr. Farouk Garba Said had also received the approval of President who thanked the two former COOs for their meritorious service to the corporation.

The Group Managing Director of NNPC, Mele Kyari, said the new appointments would enable the corporation to live up to the expectation of her shareholders, Nigerians, and give impetus to the ongoing restructuring within the Corporation, which, he said, was in line with the corporate vision of Transparency, Accountability & Performance Excellence (TAPE).

Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]

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    Columnists

    What FGN Free Meter Program means for the power sector

    Without effective penalties for erring DisCos and consumers, progress may still remain very slow.

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    Electricity, Buhari moves against Discos and agents that collect money for prepaid meters

    According to news reports, the Minister of Power, Mamman Saleh on Wednesday said the distribution of the four million free electricity prepaid meters pledged by the Central Bank of Nigeria would soon begin across the country.

    According to him, the government is wrapping up the distribution of its initial one million meters, which he labelled phase zero, and would soon begin the distribution of the four million sponsored by CBN, which he tagged phase two. He also noted that the Federal Executive Council approved N3bn for the execution of six major electricity projects in the country to upgrade Nigeria’s electricity facilities and improve power supply across the country.

    Ineffective metering remains a major drawback to the success of power sector reforms in Nigeria. While some consumers avoid paying for power consumed through meter bypass, some other consumers are made to pay for what they have not consumed through estimated billing by DisCos.

    DisCos have been largely unsuccessful with metering their customers.

    As far as inadequate metering is concerned, DisCos over time, have used this situation to their advantage via estimated billings. It appears that fully metering customers are currently being viewed as a disincentive, given that estimated bills can easily be manipulated.

    According to a report by the Nigerian Electricity Regulatory Commission (NERC), only 4,234,759 (40.27%) of the total customer population of 10,516,090 were metered as of 30 June 2020. Clearly, this validates the widely held view that there are a wide number of customers on estimated billing which gives room for illegal connection to the networks and in turn corrupt practices. NERC further revealed that only three out of 11 Electricity Distribution Companies in the country had metered more than 50% of electricity customers under their coverage areas as of June 2020.

    Effective metering in our view is one step ahead in solving the myriad of problems embattling the Nigerian power sector. Though supposed to be unpaid for, many customers in a bid to avoid the bureaucracy associated with getting meters have paid to get their own meters. We believe the provision of meters to all end-use customers will go a long way in ameliorating the liquidity squeeze in the power sector whilst also providing cashflow to the DisCos for investment in equipment needed to evacuate unused electricity to consumers nationwide.

    We laud the FG’s efforts at distributing meters freely to end-users, but we note that without effective penalties for erring DisCos and consumers, progress may still remain very slow.

    Hotflex

    CSL Stockbrokers Limited, Lagos (CSLS) is a wholly owned subsidiary of FCMB Group Plc and is regulated by the Securities and Exchange Commission, Nigeria. CSLS is a member of the Nigerian Stock Exchange.

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    Energy

    BUA Group awards contract for polypropylene plant in its refinery project

    The completion of the project is to help boost Nigeria’s capacity to meet the country’s increasing demand for petrochemical products.

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    BUA Group chairman, Abdulsamad Rabiu, African Continental Free Trade Agreement, AfCFTA, CCNN

    Nigeria’s leading indigenous conglomerate, BUA Group has announced that it has signed a contract agreement with Lummus Technology for the establishment of a polypropylene plant in its refinery and petrochemical project.

    The completion of the project is to help boost Nigeria’s capacity to meet the country’s increasing demand for petrochemical products.

    The Chairman of BUA Group, Abdul Samad Rabiu, while disclosing the contract agreement, expressed confidence in the capacity and technical expertise of Lummus Technology to deliver a best-in-class project.

    READ: BUA says its export-focused sugar project will create jobs and checkmate price hike

    What the Chairman of BUA Group is saying

    Rabiu in his statement said, “We are pleased to sign this polypropylene contract for our BUA refinery and petrochemicals project with Lummus Technology, a world leader in delivering polypropylene solutions, which will solve the increasing demand for high-performance grade polypropylene in Nigeria, the Gulf of Guinea as well as the Sub-Saharan Africa Region.

    “We are confident in the capacity and technical expertise of Lummus Technology to deliver a best-in-class, 285,000 tpy polypropylene unit for our refinery project scheduled to come on stream in 2024.’’

    READ: Dangote, BUA reconcile over sugar plant dispute after meeting with Ganduje, others

    What the President/Chief Executive Officer of Lummus Technology is saying

    On his part, the President/Chief Executive Officer of Lummus Technology, Leon de Bruyn, said that he was looking forward to working with BUA refinery on the project.

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    Leon said, “We look forward to working with BUA Refinery on this critical project and supporting the first Novolen polypropylene unit in Nigeria. Our world-class Novolen technology is well suited to meet Nigeria’s increasing demand for the growing petrochemical products market.

    It offers a flexible range of industry-leading products for all PP applications, and the industry’s lowest overall capital and operational costs while providing customers with high process reliability and flexibility in responding to market needs.”

    READ: BUA Group, French company announce progress in 200,000 bpd refinery project

    What you should know

    Lummus Novolen Technology GmbH licenses polypropylene technology and provides related engineering and technical support/advisory services. Novolen also supplies NHP® catalysts for the production of high-performance polypropylene grades in the Novolen process, and NOVOCENE® metallocene catalyst for the production of special polypropylene grades.

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