04/07/2022

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MAY DAY: NNPC greets Nigerian workers, set to unveil new logo

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MAY DAY: NNPC greets Nigerian workers, set to unveil new logo

The Nigerian National Petroleum Company Ltd, on Sunday, felicitated with Nigerian workers on the celebration of workers day.

The NNPC in a tweet on Sunday said that Nigerian worker deserve more than a day off to celebrate the occasion.

The message reads, “From all of us at NNPC Ltd, happy workers day. You deserve more than a day off.”

The message to workers came just as there are indications that the NNPC may be unveiling a new logo to reflect it’s transitioning as a company that would be operated in line with the Companies and Allied Matters Act.

Unlike the previous logo which had the NNPC inscribed in green themed logo, the new one may be in the form of yellow with a motto: “Energy for today, energy for tomorrow.”

The new logo is indicative of the transitioning being undertaken at the NNPC in line with the Petroleum Industry Act.

ALSO READ: NNPC GMD Mele Kyari seeks special court for oil theft cases

The Corporate Affairs Commission had on September 21, last year, completed the incorporation of NNPC Ltd in accordance with the provisions of the Petroleum Industry Act 2021.

The PIA was signed into law by President Muhammadu Buhari on 16th August, 2021.

Specifically, Section 53(1) of the Petroleum Industry Act 2021, requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of the enactment of the PIA in consultation with the Minister of Finance on the nominal shares of the Company.

With the registration of the CAC, the NNPC Ltd was floated with an initial capital of N200bn making it history as the company with the highest share capital in the country.

The Group Managing Director of the NNPC Ltd, Mr Mele Kyari, had on April 1, stated that the Company will, from July 1 this year, become a fully Limited Liability Company whose operations will be fully run in compliance with the provisions of the Companies and Allied Matters Act of 2020.

Kyari had, while speaking during an event where ISO 22301 certificate was presented to the National Petroleum Investment Management Services, said that the implementation of the PIA has made it imperative for the operations of the NNPC to be run like a private sector enterprise.

He said what this means is that, unlike previously when it was owned by the government, there is need for the NNPC to become more efficient in its operations so as to be able to effectively maximise returns on investment for the 200 million Nigerians.

He said that continuity is the soul of modern businesses, adding that in line with that concept, the NNPC must continue to strive to ensure that it is not put out of business.

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