As a responsible energy company, NNPC Ltd continues to strengthen Nigeria’s energy sector while solidifying its legacy as a transformative force and a global game-changer.”
By Deborah Hassan
365Daily – The Chief Corporate Communications Officer of the Nigerian National Petroleum Company Limited (NNPCL), Olufemi Soneye, has revealed that the company’s $1 billion loan to Dangote Refinery when it was undergoing liquidity challenges paved its establishment.
Soneye disclosed this while speaking at an Energy Relations Stakeholder Engagement in Abuja.
He addes that this decision underscored NNPCL’s drive to forster public-private partnerships for national development.
Soneye noted that under the visionary leadership of Mele Kyari, NNPC Ltd has achieved groundbreaking milestones, redefining the trajectory of Nigeria’s oil and gas sector.
He listed the restart of the Port Harcourt Refinery, which he said marked a significant turning point in Nigeria’s quest for energy self-sufficiency, and reaffirmed the company’s commitment to revitalising the nation’s refining capacity.
Speaking further, he explained that the NNPCL has also championed the adoption of Compressed Natural Gas (CNG) as an alternative energy source, offering Nigerians a cleaner and more cost-effective solution amidst rising global energy costs.
He said, “In a historic achievement, NNPC, under Kyari’s leadership, declared profit for the first time in decades, marking a significant financial turnaround. The company has already exceeded its profit projections for 2024, a testament to the transformative reforms it has implemented.
“Additionally, Kyari facilitated the $3 billion Gazelle loan, a critical intervention that helped stabilize the federation during a challenging foreign exchange crisis.
“As a responsible energy company, NNPC Ltd continues to strengthen Nigeria’s energy sector while solidifying its legacy as a transformative force and a global game-changer.
“Energy relations are the backbone of NNPC Ltd’s operations and strategic aspirations as an integrated energy company. In a rapidly evolving global energy landscape, fostering strong relationships with stakeholders across the value chain is not just a priority but a necessity for achieving our objectives and ensuring energy for today and tomorrow,” he said.