Financial Reporters Confer On NNPC Growing Economy With Integrity Award

The Finance Correspondents of Nigeria (FICAN) has lauded the Nigerian National Petroleum Corporation (NNPC) for growing the Nigerian economy through its operations in the upstream, midstream and downstream with transparency and integrity.

Chairman of FICAN, Mr. Simeon Ogoegbulem, made this statement while presenting the FICAN 2017 special institution of the year award to the Group Managing Director of NNPC, Dr. Maikanti Baru, in Abuja.

“FICAN 20th anniversary celebration is recognizing and rewarding corporate organizations and individuals that have made positive impacts on the economy and one of them, if not the most important, is the Nigerian National Petroleum Corporation (NNPC),” Mr. Ogoegbulem affirmed.

He said the NNPC earned the 2017 special institution of the year award because under the leadership of Dr. Baru, there was stable, constant and uninterrupted supply and distribution of petroleum products across the country with the reduction of pump price of Premium Motor Spirit (PMS) otherwise known as petrol from N145 to N140 per litre which has saved some money for motorists.

Mr. Ogoegbulem said NNPC had instituted and sustained transparency and accountability in the management of the Corporation finances, ensured monthly publication of NNPC accounts and stemed corrupt practices often associated with contract award processes.

The Chairman of FICAN also applauded the NNPC for sectorial exit from the Joint Venture Cash-Call arrangement and for opening new options for sustainable Joint Venture funding.

“The award is because today NNPC is no longer seen as ‘business as usual’ government agency but as a serious business enterprise with industry-focused reforms for the good of the Corporation and the nation. Few weeks ago, the GMD inaugurated NNPC anti-corruption and transparency unit. This is very commendable and in line with the mood of the nation,” Mr. Ogoegbulem stated.

He praised the GMD for prompt response to National Assembly invites and for ensuring that the Finance and Accounts Directorate of the Corporation always respond to the demands of NEITI, FAAC, Public Accounts Committees of the National Assembly and other stakeholders for financial data.

Mr. Ogoegbulem commended the NNPC for ensuring easy flow of information between management and staff on the one hand and the Corporation and the public on the other, stressing that this has enhanced dissemination of positive information and removed all elements of rumour and guess work.

He said: “Your media team responds quickly to questions and enquiries from Journalists and other people seeking information about NNPC. Recently, an international firm adjudged NNPC’s social media platform as the best in the public sector.”

In his response, the GMD of NNPC, Dr. Baru, said the award signified that the watchdog of the society was paying attention to the several ongoing reforms of the NNPC.

Dr. Baru stated that running the NNPC with transparency and accountability was a must and not a wish, adding that the Corporation had been repositioned into a Factual, Accountable, Competitive and Transparent organization doing its business with Integrity.

“To be transparent and accountable is much easier than to do otherwise. The designation of NNPC as a FACTI organization has made us to achieve our goal of ensuring availability of petroleum products to Nigerians with the support of the in-house unions. We have been able to curtail disruptions in the supply of petroleum products,” Dr. Baru assured.

He applauded the media for the sustained and consistent support to the NNPC in the reportage of its activities and urged it to keep up with the campaign against pipeline vandalism, saying the media campaign had helped to reduce incidence of pipeline vandalism across the country.

“As the watchdog of the society, we appreciate your efforts and we are always available to give you all the needed information you require to publish your stories. We appreciate the collaboration between the print and electronic media and NNPC and we are committed to ensuring the delivery of our goals. Thank you for recognizing our efforts,” NNPC GMD stated.