The new identity and logo for the Nigerian National Petroleum Company (NNPC), which is now a limited liability company has been unveiled
 |
| Nigerian National Petroleum Company |
The new identity has however, transformed the NNPC Limited into a commercially driven and independent entity, with the sole responsibility to declare dividends to its shareholders.
The unveiling took place at the presidential banquet hall in Abuja.
Meanwhile, Buhari during the unveiling ceremony expressed delight that he had consistently had the opportunity to shape the course of the petroleum industry in the country.
He thanked the National Assembly for facilitating the passage of the Petroleum Industry Act (PIA), which had been in the works over different administrations but only came to reality during the current dispensation.
What You Should Know about Nigerian National Petroleum Company (NNPC)
• The official unveiling came weeks after the corporation transitioned into a company whose operations will be regulated by the Companies and Allied Matters Act (CAMA). The legal transition, based on the new Petroleum Industry Act, took effect July 1.
• The NNPC completed its incorporation in September last year, several weeks after the the PIA was signed into law by President Buhari.
• The NNPC Limited was then floated with an initial capital of N200 billion making history as the company with the highest share capital in the country.
• NNPC Limited will now operate as a commercial oil company with over 200 million shareholders with integrity and excellence.
No comments
Post a Comment