PIA provides opportunity to shed some toxic liabilities – Kyari

The Group Managing Director/Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Malam Mele Kyari, has revealed that the Petroleum Industry Act (PIA) provides the organization with the opportunity to shed some of its toxic liabilities.

Kyari added that the new law is also expected to make the state-owned oil company become the largest and most capitalized company in Africa.

According to a statement by the Group General Manager, Group Public Affairs Division of NNPC Limited, Mr. Garba Muhammad, Kyari stated this while addressing staff of the organization during a town hall meeting at NNPC Towers, Abuja.

Kyari, while highlighting the significance of the PIA to the NNPC and by extension the Nigerian economy, said that the new legislation will provide enormous opportunities to the company to earn more revenue for the country.

He noted the PIA had raised shareholders’ expectations on the company as well as given NNPC a wide room to make progress.

In his words, ‘’The PIA has put all money-making options on the table; it is up to us to take advantage of it.”

The NNPC boss also charged staff of the organization to ensure that the company becomes a commercially viable entity and a multi-billion-dollar entity that would continuously deliver value to its shareholders.