The Executive Vice President, Gas, Power and New Energy of the Nigerian National Petroleum Company Ltd, Mr. Olalekan Ogunleye, emphasised the importance of transparency, accountability, research, technology, and innovation as key drivers of the ongoing transformation within the company.
Ogunleye made these remarks during a Panel Session hosted by NNPC Ltd at the 2024 CERAWeek Conference in Houston, the United States.
Speaking on the theme, “Africa’s Energy Future: Access, Investment and Sustainability,” Ogunleye highlighted the company’s commitment to leveraging modern technology to drive its operations under the leadership of Mr. Mele Kyari. Emphasised the value created by the adoption of modern technology, positioning the company to compete effectively on a global scale.
Ogunleye also underscored the impact of the Petroleum Industry Act (PIA) in 2021, stating that it has transformed NNPC Ltd into an integrated commercial entity focused on transparency and accountability.
He noted that these core values are essential as the company moves towards floating an Initial Public Offer (IPO) at the stock exchange.
The executive vice president expressed confidence in the company’s journey towards setting high transparency, accountability, and performance excellence standards. He emphasised the commercial significance of these values in attracting partners and potential investors, highlighting the company’s commitment to becoming IPO-ready.
He reiterated the company’s commitment to delivering value to its shareholders by continuously improving its processes in line with global best standards.
Furthermore, Ogunleye emphasised the importance of gas as a critical resource for Africa’s economic development and improved living standards. He called for sustained advocacy for gas as a major energy source to drive the economic and industrial fortunes of the continent, emphasizing NNPC Ltd’s role in accelerating gas development and commercialization in Nigeria.
A statement issued by Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye on Thursday in Abuja, stated that the panel also featured other energy experts, including Daniel Berkove, Senior Advisor, S&P Global; Emmanuel Mugagga, Chief Financial Officer, Uganda National Oil Company; and Benjamin Kweku Acolatse, Deputy Chief Executive Officer (Finance and Administration), Ghana National Petroleum Corporation.
