President Muhammadu Buhari will unveil the new Nigerian National Petroleum Company Limited (NNPCL); today just as the company will now supply petrol to Nigeria at a fee payable by the federal government.
The Group Chief Executive Officer of NNPCL, Mele Kyari, stated this in a recorded interview on Channels TV. With the new Petroleum Industry Act (PIA) 2021, the company transited to a company registered under the Company And Allied Matter Act (CAMA); registered by the Corporate Affairs Commission (CAC) and having its shares on behalf of Nigerians.
Already the firm has had a new board led by Sen. Margery Chuba-Okadigbo and Kyari redesignated from the Group Managing Director (GMD) to GCEO. The president is expected to unveil its new brand identity and core of this is its logo; vision and mission especially as it highlights a focus on energy transition.
Ahead of this milestone event, Kyari gave a hint how the company will operate saying; “with the price of petroleum, this is a policy matter. And the NNPC is going to be a supplier to the Federation at a fee. So, at what price you sell petroleum will be the decision of the state.