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Tag: PIB

  • How PIB can transform oil sector, by experts

    How PIB can transform oil sector, by experts

    Experts have drawn out 10 things that must be included in the Petroleum Industry Bill (PIB) for it to turn around the oil and gas sector.

    They spoke at a one-day Stakeholders Forum on the Petroleum Industry Bill (PIB) 2012 organised by the House of Representatives Committee on Petroleum Resources (Downstream) on Monday at the Transcorp Hilton Hotel, Abuja.

    In a communiqué issued after the summit signed by Chairman, House Committee on Petroleum Resources (Downstream), Hon. Dakuku Peterside, the experts drawn from labour unions, Ministry of Petroleum Resources, Ministries of Health and Trade and Investment, Department of Petroleum Resources (DPR), among others, said the Bill must ensure the power vested on the Minister of Petroleum in the Bill is reviewed.

    The recommendations are: “Federal Government divest its interest in the refineries in the country to competent and resourceful investors with the requisite expertise; deregulation of the downstream petroleum sector is critical to ensure the sustainability of the sector and availability of products; a transition schedule defining the sequence and timing of deregulation of the downstream sector should be annexed to the Bill; the protection of products and pipelines, the provisions in the Special Tribunal (Miscellaneous Offences) Act Cap 410 LFN 1990 should be reviewed and included in the PIB; the transparency provisions in the draft PIB relating to the downstream sector should be strengthened particularly in the areas of award of licenses; voiding contract confidentiality and publication of licensing information; amendment of Section 360 to maintain BPE’s statutory authority to oversee the sale of NNPC’s assets, or include provisions to specify how sales will be undertaken. Government should retain only 49 percent and divest the rest of the shares; conduct a regulatory gap analysis and streamline all existing laws; ensure the PIB takes cognisance of current trends and best practices around the world; the powers granted to the minister need to be reviewed; to derive the full benefit of the structural changes in the PIB, there is a need for an attitudinal change in the operation and running of the organisations.”

    The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), in a memorandum presented at the summit, said the draft PIB 2012 “is very thin on clear provisions for the downstream sector, especially as relates to the issues of workers; job security, job placement as well as incentives to the players in the industries. This can only be explained by the general migration of downstream operations to full privatisation of the sector. The big question then becomes what will happen to the labour force of this sector.”

     

  • Govt may adjust PIB to favour oil firms

    Govt may adjust PIB to favour oil firms

    Government is proposing watering down the changes to the operations of International Oil Companies (IOCs) operating offshore in the Petroleum Industries Bill (PIB).

    The PIB, touted as a panacea to the problems in oil sector development, is undergoing legislative work at the National Assembly.

    Petroleum Minister Mrs. Diezani Alison-Madueke hinted of the proposed changes in an interview with the Financial Times of London.

    News of the planned review of the fiscal regime for the OICs came as Total said it has sold a 20 per cent stake in a Nigerian offshore oil field to China’s Sinopec in a $2.5 billion (N387.5billion) deal, which will help the French oil group fund its ambitious exploration plans.

    But the new terms for the IOCs according to the FT, are part of a long-delayed PIB.

    Mrs Allison-Madueke said the new fiscal terms were “equitable”, and would only increase the government’s total take by 7- 8 per cent. But she added that there was “room for compromise” on a planned hike in royalties for production sharing contracts offshore, and that talks with multinational companies, such as Shell, Chevron, ExxonMobil, Total and Eni were continuing.

    “They still feel we are too far apart,” said Mrs Allison-Madueke, adding “We would like to feel that at the end of the day we have some fairly median point.

    “Uncertainty over the bill has caused stagnation in the oil industry, with little spending on exploration in recent years. Production is stuck at around 2.4million barrels a day, barely half what was targeted a decade ago.

    If passed, the legislation will see the Nigerian National Petroleum Corporation (NNPC) stripped of regulatory powers and split into three companies, including a listed oil company run along commercial lines. The downstream oil sector, will be deregulated and liberalised.

    International oil companies have profited in the past from opaque rules and lax controls, and in many cases have failed to adhere to international standards on environment protection.

    Mrs Allison-Madueke said the proposed changes were still less onerous than in countries such as Angola and Indonesia.

    “We have a lot more competition in the sub-Saharan region than we had before, when we were pretty much the sole explorer and producing nation. For that fact alone, and also to keep the discourse going, we are still in discussion [with the oil companies].”

    Total according to Reuters, said yesterday it had signed a deal to sell the stake in the OML 138 block, which produces 130,000 barrels per day of oil equivalent and contains the Usan field, which started production in February.

    Sinopec, Asia’s largest refiner, has also snapped up energy assets in Britain and the United States recently to boost foreign earnings, as a slowdown in China hit profits.

    Other shareholders in the OML 138 oil block, located 100 kilometers off the coast of Nigeria, are Exxon and Chevron, with 30 per cent each, as well as Nexen, which owns 20 per cent.

    Total’s shares were up 2.5 per cent by 1500 GMT, outperforming a 2.1 per cent rise in the European oil and gas sector.

     

  • PIB: PENGASSAN urges dialogue with stakeholders

    PIB: PENGASSAN urges dialogue with stakeholders

    THE Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has urged the Federal Government to consult with relevant stakeholders on the passage of the Petroleum Industry Bill (PIB) into law.

    Speaking at an oil workers workshop on PIB by the association and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) in Calabar, yesterday, President of PENGASSAN, Comrade Babatunde Ogun, called on the Federal Government not to be draconian in the passage of the bill, as they will resist such move.

    Mr. Ogun said the bill has some challenges that should be sorted out before passage into law.

    He said: “Every Nigerian solidly believes that there is need for change. As we speak, we are engaging every stakeholder. The Bill as it is has some challenges that we believe should be addressed by the unions and stakeholders in the oil and gas to add value to it.

    “We must not use draconian law to pass the Bill, that is why the unions are saying, let us engage government, bring all stakeholders to look at it and see what happens internationally. As oil and gas workers, we strongly believe that Nigerians must not be shortchanged and that there should be conducive environment for the investors,” he said.

    He said part of the reasons for the workshop was for members of the two unions and stakeholders in the oil and gas industry who add value to government affairs to look at the Bill critically, and proffer solutions on the best way to go about it.

    The facilitator of the workshop and Research Fellow with the Centre for Public Policy, Dr. Olufemi Olanrewaju, said the importance of the PIB should not be underestimated, adding that the workshop seeks to look at the contents of the bill and see where the challenges lie so as to proffer solutions.

  • Clarke frets over Petroleum Industry Bill

    Elder statesman Chief Edwin Clarke has said certain issues, which the newly revised Petroleum Industry Bill (PIB) before the National Assembly fails to address may end up undermining and threatening the existence of the Niger Delta if not revisited.

    The former Information commissioner expressed this concern while calling for additional provision to be included in the bill to take care of these issues.

    Delivering a paper entitled: The PIB and the oil producing areas equation, at an Upstream and Downstream Oil and Gas expo in Abuja, Clarke said some of these issues centred on transparency, the environment and economic empowerment of the people of Niger Delta.

    On transparency and accountability in the oil and gas industry, Clarke said they are provided for in the bill, particularly on tendering and licensing for oil blocks still fall short of what is required.

    He said: ”The process of licensing and tendering in the oil industry is still not transparent enough even with the new PIB. I would have wanted the process to be made more open so that the owners of the oil blocks are made public. Such transparency will curb the corruption in the industry as well as increase the revenues accruable to the Federal Government. We need to have a competitive and open licensing and tender process for all the oil blocks and marginal fields as well as in the associated processes for granting licenses for crude oil lifting and other downstream activities. This I think would ensure better returns to the government.”

    On protection of the environment, Clarke said what the new bill makes provision for is still a far cry to what is required for the mitigation of the level of degradation done to the environment.

    Clarke said: “The damage done to the environment via oil and gas operations by the oil companies has been quite enormous and as a result something ought to be done either to reduce or stop the damage .The current issues of environment need to be addressed by putting in place measures to stop the activities of these oil companies that are destroying our environment and ecology. There is far less than the provision in the bill can offer. But an additional provision in the new bill would ensure that these measures are implemented in such a way that there are significant consequences for any organisation that continue to violate the law. The clean up and remediation activities must start in earnest while gas flaring and persistent repeated pollution must be made to stop.”

    On empowerment of the people of the region, he noted that the new bill still leaves much to be desired, particularly on engaging Niger Deltans as stakeholders in the oil industry.

    “There are still issues with the provision of the new PIB especially as it concerns the economic empowerment of the Niger Deltans. It would be good we have a quota system that measures the participation of Niger Delta indigenes in the organisations involved in the petroleum sector in the region including the IOCs, NNPC and indigenous oil companies. The new regulatory bodies proposed by this bill should also be subject to similar Niger Delta content requirement.”

     

  • ‘Reps won’t pass PIB quickly’

    ‘Reps won’t pass PIB quickly’

    The House of Representatives will not rush the passage of the Petroleum Industry Bill, it emerged yesterday.

    Being one of the most important bills that would have passed through the National Asembly, the lawmakers said they have resolved to shelve political party affiliations or ethnicity to give the bill, the scrutiny it deserves.

    To make good their decision, the opposition lawmakers commissioned a consultant to intimate them on the technicalities inherent in the bill.

    The opposition parties include the Action Congress of Nigeria (ACN), All Nigerian People’s Party (ANPP), All Progressive Grand Alliance (APGA), Democratic People’s Party (DPP), Labour Party (LP) and Accord Party (AP)

    Leader of the opposition, Femi Gbajabiamila (ACN, Lagos), explained that the briefing by the consultant is to ensure that a thorough understanding of the letters of the executive bill are fully grasped by the lawmakers.

    Besides, he said the stepping down of the consideration of the bill on two occasions, was meant to avail the lawmakers enough opportunity scrutinise the document.

    The bill was stepped downon on the eve of the two-month vacation at its first presentation when The House Leader, Mulikat Akande-Adeola could not offer proper explanation on its provision.

    He said: “‘We stepped the Bill down twice for good reasons because we cannot doubt the fact that it is one of he most important bills that would come out of this National Assembly.

    “For that, we have resolved not to adopt any fire brigade approach. we don’t want any quick passage. We want a proper passage, a thorough meticulous passage when all the facts are under- stood. Don’t forget that the petroleum industry is a technical industry.

    “The fact that you are a legislator does not automatically mean you should know about petroleum. So you have consultants. When you pass something quickly, you take a position that is uninformed, that is why later you start having amendments.

    Gbajabiamila said its passage is conditional upon full understanding of the details, “we are talking about 300 pages of documents, or more,” he stated.

    He however pleaded that Nigerians should not see the decision to do a thorough job of the bill as undue delay, saying, “you don’t just bring a bill without briefing The Leader who is supposed to move it on your behalf. So what you call delay, I don’t see it as such.

    “ This is a very important bill and it requires the attention it deserves. That is why I have called a meeting of all opposition members across all parties for a briefing by a consultant on the PIB, so that we can be fully equipped when we go into debates,” he added.

  • Minister’s briefing delays Reps debate on PIB

    Minister’s briefing delays Reps debate on PIB

    The House of Representatives yesterday postponed the debate on the contentious Petroleum Industry Bill (PIB) to enable the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, to brief the House.

    The debate was deferred till next week. This makes it the second time the debate on the bill would be postponed. It was billed for discussion before the House went on recess. Just like the first occasion, the PIB was listed on the order paper for debate, but this was not taken.

    When she was invited to take the lead debate at plenary yesterday, the House Leader, Mulikat Akande-Adeola, said ministerial details were lacking in the bill and therefore requested for more time to enable her receive briefing from the minister.

    Sequel to the demand by the House Leader, the Speaker said: “House Leader has requested that we step down consideration until she gets briefing from the Petroleum minister.

    “We will begin debate on PIB next week. Honourable members intending to contribute are to drop their names with either of the whips.”

    The first time the House refused to debate the PIB was on the eve of the House’s two- months break.The House while rejecting the bill, wondered why the Presidency was sending it at the onset of a two-month recess, adding that the act was not only mischievous but also an effort at blackmail.

    The House yesterday resolved to merge the Petroleum Industry Bill with a similar member bill sponsored by Kaka Kyari Gujibawu, entitled, ‘A Bill for an Act to Establish the National New Frontier Exploration Agency, for the purpose of Exploration and Production of Oil and Gas in the frontier of chad basin, Dahomey basin, Imo basin, Benue trough and Sokoto Basin.’

  • Need to speedy up passage of PIB

    Need to speedy up passage of PIB

    The Petroleum Industry Bill (PIB) has become the subject matter of most of oil and gas industry’s fora. The Ministry of Petroleum Resources under Mrs. Diezani Alison-Madueke is gradually delivering on its promises but the PIB is where the attention ought to focus, writes EMEKA UGWUANYI.

    Hardly does any oil and gas forum hold without a mention of the Petroleum Industry Bill (PIB) and the consequences of its non-passage into law by the National Assembly. As the bill, stands, it doesn’t need only quick passage, it also needs to be thoroughly deliberated upon so that on passage it should be a balanced Act that would benefit all stakeholders in order to attract the desired investments into the oil and gas industry.

    The non-passage of the PIB, according to experts, is responsible for lack of new investment in the upstream sector of the industry in the last couple of years. Industry operators had continued to stress the diversion of investment in the sector to Ghana, Angola, Equitorial Guinea, and Mozambique as well as other emerging countries where oil have been found.

    The Minister of Petroleum Resources made efforts in the past even to the point that she assured Nigerians that the bill would be passed into law by the sixth assembly. But the efforts and promises were fruitless as the National Assembly could not pass it. Nigerians are expectant that the seventh assembly would make history by deliberating on the document and passing it into law. The ministry, it was learnt, has begun to make fresh efforts to see the passage of the bill.

    Upstream

    The Director, Department of Petroleum Resources (DPR), Osten Olorunsola, at a forum said that in the past five years no new investment has been made in the upstream sector. He also noted that in recent times oil is being found in commercial quantities in many parts of Africa apart from countries in the Gulf of Guinea, an area believed to be still holding substantial reserves of hydrocarbon. He said that the earlier Nigeria maximizes the benefits of this natural resources, the better for all Nigerians because investors including those in Nigeria are increasingly considering all these emerging options.

    The implication of this development is that as there is no exploration, the country depends on existing reserves. When the reserves are depleted without replacement, we should be worried as a country, said the President of the Nigerian Association of Petroleum Explorationists (NAPE), Dr. Afe Mayowa.

    Mayowa said that there was urgent need to replace consumption through aggressive exploration to ensure growth in reserves, energy security and sustained revenue inflow, especially as the country’s main source of revenue is oil and gas.

    According to these experts, the passage of PIB is the only reliable option to unlock the potentials of the petroleum sector as well as the attendant benefits for Nigerians. The PIB, which when passed into law, is believed would remove the bottlenecks, bureaucracies and inefficiencies associated with government controlled entities. It as it would also release many agencies and policies from the strangle-hold of the government.

    Alison-Madueke constituted committees made up of experts to work on the bill before it was submitted to the National Assembly for consideration. The essence of the committees’ inputs is to address some grey areas and contentious provisions.

    Downstream

    With what has been happening in the downstream sector of the industry since the beginning of the year especially the marketing arm, the probe and counter probe of transactions necessitated by the House of Representatives’ adhoc committee’s oil subsidy programme probe, which unveiled the rot in the sector, transparency is gradually being engendered into the downstream.

    The passage of PIB will bring about deregulation, which will open up the downstream and put an end to the undue fleecing of Nigerians by a few marketers and privileged Nigerians. In the past couple of weeks, fuel scarcity has been lingering in different parts of the country because it is the Nigerian National Petroleum Corporation (NNPC) alone that has been importing petrol. The marketers have refused to import as a result of non-payment of their outstanding subsidy claims put at about N200 billion. Some retail outlets have in view of the fuel scarcity been selling the product above the regulated pump price of N97 per litre. Some stations sell at between N110 and N140 per litre in the hinterland.

    Besides, some unscrupulous people cash in on the situation to sell adulterated fuel to the unsuspecting motorists, while others hawk the products at exorbitant prices. According to industry operators, the passage of the PIB would address the problems.

    Gas development

    In the power sector, there has been a significant improvement in power supply following increased gas supply to thermal power plants. In the recent past, inadequate gas supply had almost crippled the power sector cutting generation to almost half to a little over 2000 megawatts (MW).

    The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, in order to ensure increased gas supply to facilitate power generation in the country, had ordered an aggressive implementation of the ongoing 12-month gas emergency timeline for a speedy expansion of the gas-to-power programme, which the international oil companies (IOCs) bought into.

    The minister had pledged the Federal Government’s commitment to work with IOCs to meet the gas to power aspirations. She noted that a speedy gas to power can only be attained if the oil majors work in concert with local Nigerian service providers.

    She said: “We can only build a reliable oil and gas sector through the effective participation of competent Nigerian service providers and operators. Thank God the IOCs and the indigenous companies and some Nigerian professionals are already keying into this opportunity made possible by the Nigerian Content Act.”

    The Managing Director, Shell Petroleum Development Company (SPDC) and chairman Shell Companies in Nigeria, Mutiu Sunmonu, said that Shell has taken adequate steps to improve gas supply to the power plants in the country.

    Sumonu said that the company was already keying into the Federal Government’s 12 months gas emergency plan meant to boost power generation. “We at Shell are committed to realizing government’s gas emergency plan so as to boost gas supply in the country,” he said.

     

  • Seplat boss expresses concern over passage of PIB

    The Managing Director, Seplat Petroleum Development Company Limited, Mr Austin Avuru, has expressed concern over the passage of the Petroleum Industry Bill (PIB) into law.

    He said the bill would either not be passed into law after all or what would be passed would not be functional, which may lead to call for amendments from the day one.

    The development according to analysts, would not only further deepen investment diversion from the country to other countries but would at the same time jeopardize the entire country’s economy.

    Speaking with The Nation during the Petroleum Club Forum, which focused on the PIB, held in Lagos, Avuru regretted that the piece of draft legislation was rather widening the gap between the government and the industry rather than narrowing it, noting that in the end if no concrete consensus was reached on what is acceptable to both parties, it is the industry and the country that would suffer

    He said the discrepancies that existed between the international oil companies (IOCs) and what the government was trying to do have been the major challenge in all of the versions of the PIB. It doesn’t represent what we think it should be, he added.

    He said: “Right from the beginning when we decided for whatever good reason, that we have to go through this complex process of rewriting all existing legislation in the industry and put it into one piece of document, some of us knew from the beginning that it was going to produce more complications than solutions.”

    He said the objectives of both parties were completely different. According to him, while the government wanted more revenue the stakeholders were saying that too many complications had crept into the industry, which the Seplat chief agreed had increased the cost of doing business.

    “The business environment is much less stable than it was 15-17 years ago and that under this circumstance what we are getting out of the industry is just about enough and the government doesn’t want to listen to that. Government wants more, the industry is saying if you want more you are chasing us out of business,” he said.

    On whether the National Assembly would reach a compromise on the issue, Avuru said the government and the industry had failed to narrow their differences before taking a compromise document to the National Assembly adding that most of them took their very divergent views to the National Assembly and by judication what would come out of the house would be difficult to predict.

    “Where the industry and the government agencies including the Nigerian National Petroleum Corporation (NNPC) could not close their gap and reach some compromise at this point what would come out of the National Assembly would be difficult to predict,” adding that the lawmakers may not have the broad training and experience to understand the intricacies of the issues in the industry.

    The Executive Director, Pillar Oil Limited, operator of Umuseti/Igbuku oilfield, Seye Fadahunsi, said that the PIB must put in place the opportunity for small companies to grow from small to midsize companies

    He agreed there was nothing in the draft that said any category of acreage would be reserved for indigenous players. He said there must be some form of encouragement that ensures that what the international oil companies don’t use, the local companies are able to use them to increase the size of the pile.

    He said the IOCs have given out over 100 acreages of twenty nine marginal fields in the history of indigenous operations in Nigeria and had only produced about five percent of total production.

    According to him, most of the licenses that were given to indigenous companies were licenses that the majors didn’t want, adding that the potential of those licenses were not necessarily that grade.

  • Senate to remove bitumen from PIB

    Senate to remove bitumen from PIB

    The Senate Committee on Solid Minerals on Thursday insisted that bitumen will be expunged from the new Petroleum Industry Bill that is presently before the National Assembly.

    The committee chairman, Senator Adamu Abdullahi, who made the disclosure while addressing journalists in Abuja during an oversight function to the Nigerian Geological Survey Agency, described the inclusion of bitumen in the Bill as an anomaly.

    He said, “We are not talking of the effects first. We are talking of somebody saying you are a woman while you are a man. Will you take it? Does it make sense to you? We have been served with copies of the PIB from the Presidency. And when we start debating be there and watch what you are going to see. Definitely, we are going to ensure that bitumen goes to its right position. It will go to the Ministry of Mines.”

    NGSA Director General, Prof. Siyan Malomo, noted that bitumen is part of the mining act, while PIB is on petroleum.

    He said that there is need for more data on bitumen in the country.

    While seeking measures for moving the mining sector forward, Abdullahi told the NGSA director general to explain the challenges that have accounted for the stagnancy in the sector despite the acclaimed huge potentials.

    Abdullahi said:”how can we reverse this ugly trend? How can you assist us? You are the people wearing the shoe. What is it that has brought about this static position? What is the problem so that we can improve? What area of legislative assistance do you require? What anxiety has the investors expressed?”

    Responding, Malomo urged the country to ensure that there is security of tenure because investors do not seem to see any security for investment.

     

  • PIB: NNPC begins transformation training for staff

    PIB: NNPC begins transformation training for staff

    As Nigerians are expectant that the Petroleum Industry Bill (PIB) would be passed into law before end of this year with the attendant transformation and restructuring of some existing processes, the Nigerian National Petroleum Corporation (NNPC) has earnestly started training its workforce in preparation for the changes that would come with the passage of PIB.

    The corporation hired the services of an American-based consultancy firm – New Generation Consulting Resources and Solutions (NGCRS) based in Cresco, Pennsylvania, USA, to train the NNPC staff to be adaptable to the new NNPC that would come with passage of the bill.

    The corporation organised a weeklong training in Lagos for select staff drawn from its different departments and The Nation spoke with the Principal Consultant of NGCRS, Dr. Njideka Kelley on some of the issues.

    Kelley said: “The training is on change, reform and transparency and the participants are mid level to higher up cadres. As you know with the intended Petroleum Industry Bill (PIB), NNPC has been very proactive in training their staff on change. The training would be able to reform the corporation because the PIB will restructure the NNPC and with all of that, the highlight will be on transparency because that is what will sustain the change and the reform practices that will come to NNPC. The first training we had for the NNPC was on improving organisational security, which was last year and we are taking the training to Delta State later this year for the Asaba Chamber of Commerce.”

    On the compliance level of the participants to the intended change, she said: “when we started on the first day, they had mixed feelings on whether change will truly be possible in NNPC considering where the country is coming from and what the society’s mindset is in terms of what constitutes value but by the time we rounded off, the level of compliance had improved tremendously.

    “The participants were a great group, very awesome, they were willing to learn. They gave their own assessment and feedback. The class was very participatory-oriented, with methodology in discussions, case studies and lectures, so as we give theories, we also give practical, which are real life examples. The participants were very compliant.”

    On whether there are plans to have an overseas part of this training so that participants can see what their counterparts in other developed countries do in terms of transparency, she said, we have not discussed that with NNPC but it is definitely worth giving a trial.

    The NGCRS chief advised the management of NNPC to continue to invest in their human capital development, which she noted doesn’t just mean sending them to training but also doing internal reviews and making sure that the resources that they put in towards training is received back through the application of the duties, functions, interpreting the core values.

    “In other words, the management has to make sure that the participants are assessed through tests and periodic reviews, examination, among others internally to ensure that the money the corporation spent to receive these principles are also received back by the staff by way of periodic reviews and application. All of these have to be inculcated into NNPC,” she added.

    To inculcate the right principle in the country’s workforce, the first is to create awareness, she said, adding you have to understand change by knowing and accepting that you want a change. You have to understand that you have a problem and want to solve it that is the first step. In keeping a change sustainable, you keep on emphasising where you were, where you are going, and where you are now. NNPC is not the way it was 20 years ago. There have been improvements, which have been developmental because they keep improving on them. But where we are going is a transformational change, she said.

    She also said the training would certainly bring a change that would make the corporation as competitive as other state owned oil companies such Statoil and Petrobras. “Because NNPC has recognised that there is a problem that needs to be solved and part of it is a cultural problem. It lies in the core values and principles of NNPC and the country as a whole because it is not news that Nigeria has social problem, which corruption is at the top. NNPC being a government entity is perceived to be part of that corruption. This may be true or false but if we want to take it from that point of view, we can say that NNPC is doing all that it can within its power to change given the external influences that sometimes are not conducive to business.

    “This is the reason they are investing in their human capital and make sure that people begin to understand that it will no longer be business as usual especially when the PIB is passed into law. The reformatory practices have to be put in place. They have to be transformed and that is the key. They must be transparent and those core values must have to be revisited. NNPC has to go back to the drawing board and look at the ways they had been doing business, look at their operations and technology and see how all of that will influence their bottomline and will start to make profit. To achieve this they have to streamline many things.”