Oritsemeyiwa A. Eyesan, Executive Vice President, Upstream; Olalekan Ogunleye, Executive Vice President, Gas, Power, and New Energy; Adedapo A. Segun, Executive Vice President, Downstream.' the firm stated
In July last year, the national oil firm, formerly known as Nigerian National Petroleum Corporation, transited fully into a commercial entity, becoming the Nigerian National Petroleum Company Limited.
The official trtransitionnto a private entity means that the oil company is now being regulated in line with the provisions of the Companies and Allied Matters Act. The Group Chief Finance Officer of the firm is therefore expected to bear additional tasks of ensuring the liquidity of the group as well as the efficient allocation of capital to its businesses based on returns and business relations.
Also, the Federal Government is to halt all forms of funding for projects and sundry purposes of the firm, compared to what was obtainable in 45 years of the NNPC before it transitioned to a limited liability company. The oil company has since been operating as a limited company, run by a chief executive officer and his executive vice presidents.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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