NNPCL Updates MOFI on Operations, Investment Developments
By Patience Ikpeme
The Nigerian National Petroleum Company Limited (NNPCL) has provided the Ministry of Finance Incorporated (MOFI) with a comprehensive update on its operational and investment advancements.
The briefing, led by NNPCL’s Group Chief Executive Officer (GCEO), Mr. Mele Kyari, focused on key developments and strategic initiatives aimed at optimizing assets and ensuring operational sustainability.
A statement released by MOFI detailed that the discussions centred around upcoming innovative developments within NNPCL, leading to conversations regarding asset optimization, operational sustainability, and the disciplined pursuit of core strategic targets.
As a significant portfolio company of MOFI, NNPCL’s presentation was in line with MOFI’s supervisory mandate, ensuring consistent monitoring and strategic guidance.
MOFI’s engagement with its portfolio companies, including NNPCL, is central to its mandate of optimizing Federal Government of Nigeria assets through sustained supervision. This proactive approach allows MOFI to consistently monitor the activities of its portfolio companies, providing strategic guidance and facilitating steady growth in alignment with established targets.
The meeting served as a platform for both organizations to reaffirm their commitment to collaborative efforts in achieving the key targets set by President Bola Ahmed Tinubu’s administration for MOFI and NNPCL. The shared objective is to enhance the performance and contribution of these entities to the national economy.
The MOFI team, led by Chairman of the Board, Dr. Shamsuddeen Usman, and Managing Director/Chief Executive Officer, Dr. Armstrong Takang, engaged with NNPCL’s leadership to discuss the strategic direction and operational updates. The interaction highlighted the importance of close coordination and strategic alignment in driving the growth and efficiency of NNPCL.
