NNPC GMD Baru
Nigerian National Petroleum Corporation (NNPC) has outlined 12 business focus areas to spur efficiency, profit and growth.
The lead policy framework, “12 Business Focus Areas (BUFA)” was unveiled by the Group Managing Director Dr. Maikanti Baru, on Tuesday in Abuja.
He received the reports of the eight committees set up to develop appropriate strategies to implement the focus areas.
The components of 12 BUFA, include security of NNPC assets and the development of new Business Models that would grant autonomy to the various units of the Corporation.
“Settling Joint Ventures Cash Calls; Ramping up crude oil production and reserves growth; Growing NPDC as the Corporation’s cash cow and Focusing on gas development for both domestic and export markets,” are also some of the components as contained in a statement on Tuesday.
As stated by the statement by Mr. Ndu Ughamadu, Group General Manager Group Public Affairs Division of NNPC, others are the upgrading of existing refineries and creating opportunity for refining expansion.
“Focusing on renewable energy and Frontier Exploration; revamping the oil and gas infrastructure; pursuing profitable ventures and common services; and ensuring professionalism and Accountability of the Corporation.”
Catering for the welfare of staff who are regarded as critical stakeholders for the success of the vision, is another component.
Baru who received the report, described the preliminary work done by the various 12 BUFA committees as “a commendable effort”.
Baru stated the document would put NNPC on the path of growth and profitability.
He directed the Chief Operating Officers (COOs) of the Corporation to start immediate implementation of the policy framework.
He advised the COOs to revert to Management in cases of getting better clarifications on any grey areas.
Baru stated in such cases, the documents would be subsequently reviewed jointly by NNPC Management and the Committees, followed by full implementation.
Also speaking at the occasion, the Group General Manager, Corporate Planning & Strategy (CP & S) of the Corporation, Mr. Umar Ajiya commended the various committees for an excellent job.
Baru in December 2016 inaugurated the eight committees.