Fostering strong relationships with stakeholders across the operational value chain is a priority for emerging a global integrated energy company, the Nigerian National Petroleum Company Limited (NNPC Ltd) has said.
Speaking on Monday at an Energy Relations Stakeholders Engagement Session in Abuja,, the Chief Corporate Communications Officer of the national oil company, Olufemi Soneye, said the company was committed to fostering meaningful relationships with its various stakeholders, partners and collaborators to drive excellence and deliver value across the entire energy value chain in the country.
Describing energy relations as the backbone of NNPC Ltd’s operations and strategic aspirations, Soneye said as an integrated energy company operating in a rapidly evolving global energy landscape, fostering strong relationships with stakeholders was not just a priority in its business, but a necessity for achieving its corporate objectives.
The energy relations stakeholders meeting, he noted, underscored the NNPC Ltd’s shared vision to ensure energy security, economic growth, and environmental stewardship for the benefit of all Nigerians.
“Energy relations are more than a strategic tool. They are integral to our (NNPC Ltd) mission to deliver energy for today and tomorrow, driving value for our stakeholders and empowering our nation”, Soneye said.
He highlighted some groundbreaking milestones the companybachieved under the current management led by the Group Chief Executive Officer (GCEO), Mele Kyari, including the recent restart of operations at the Port Harcourt Refinery; championing the adoption of Compressed Natural Gas (CNG) as alternative fossil fuel; the declaration of highest profit for the first time in decades, amongst others.
“Under the visionary leadership of Mele Kyari, NNPC Ltd has achieved groundbreaking milestones, redefining the trajectory of Nigeria’s oil and gas sector.
“The restart of the Port Harcourt Refinery marks a significant turning point in Nigeria’s quest for energy self-sufficiency, reaffirming the company’s commitment to revitalizing the nation’s refining capacity.
“NNPC has also championed the adoption of Compressed Natural Gas (CNG) as an alternative energy source, offering Nigerians a cleaner and more cost-effective solution, amidst rising global energy costs.
“A strategic decision to secure a $1billion loan backed by NNPC Ltd’s crude oil was instrumental in supporting the Dangote Refinery during liquidity challenges, paving the way for the establishment of Nigeria’s first private refinery.
“This initiative underscores NNPC’s dedication to fostering public-private partnerships that drive national development.
“In a historic achievement, NNPC, under Kyari’s leadership, declared profit for the first time in decades, marking a significant financial turnaround. The company has already exceeded its profit projections for 2024, a testament to the transformative reforms he has implemented.
“Additionally, Kyari facilitated the $3 billion Gazelle loan, a critical intervention that helped stabilize the federation during a challenging foreign exchange crisis,” Sonoye said.
The NNPC Ltd’s spokesperson pointed out that as a responsible energy company, the company has continued to strengthen Nigeria’s energy sector, while comsolidating its legacy as a transformative force and a global game-changer in the energy sector.
The Head, Efficiency Unit of the Company, Arinze Okafor, who spoke at the event on NNPC Ltd’s Transition in the Post-Petroleum Industry Act (PIA) era said the company was focused on deepening its global footprints on value in line with its mandate to create an integrated energy business that is profitable, resilient, and sustainable through the energy transition while ensuring domestic energy security.
Okafor said there were some benefits to be derived from cultivating effective partnerships and collaboration with the company, including enhanced business opportunities: collaborating with NNPC Ltd. to provide stakeholders access to a broader market and potential contracts within the energy sector.
“With access to resources and expertise, stakeholders can leverage NNPC Ltd’s extensive resources, including expertise and financial backing, while strengthened community relations, by partnering with NNPC Ltd’s stakeholders can enhance their corporate social responsibility (CSR) initiatives.
“Contribution to Sustainable Development: Engage with NNPC will allow stakeholders to participate in initiatives aimed at promoting sustainability within the energy sector,” he added.
In her brief intervention, during the event, the Head, Relationship and Stakeholders Management of the company, Oluwakemi Olumuyiwa, urged stakeholders in the energy sector to see themselves as influencers of public opinion to set agenda for the growth of the industry.
“In our country, we need energy. That’s why we need to understand the parameters for harnessing the energy from the various sources around us, both from the natural resources God has given us in the sky (the sun) and the hydrocarbon resources in the ground and set agenda to realise our national objective.
“Also, we need to have the feedback about the activities and success stories of the NNPC Ltd. which is impacting the lives of all Nigerians.
“Besides, we need to be advocates for the progress and and growth of the NNPC to continue to contribute to the survival of the economy,” she said.
