The Chief Executive Officer of Heirs Holdings, Tony Elumelu, and the President of Dangote Group, Aliko Dangote, have voiced their optimism about the enormous potential of NNPC Limited to have a significant impact on their respective businesses.
Earlier today, during the Annual Value Assurance Review (AVAR) Session of the NNPC Upstream Investment Management Services (NUIMS) in Lagos State https://t.co/rau8jIXeJ2, the two prominent industrialists, Tony Elumelu and Aliko Dangote, revealed their confidence in NNPC Limited’s ability to significantly impact their businesses.
Both renowned entrepreneurs acknowledged the critical role of the newly incorporated NNPC Limited in the Nigerian oil and gas sector and expressed confidence in its capacity to enhance the growth and development of their companies.
During the session, Tony Elumelu extolled ‘the remarkable growth achieved by NNPC and its impact on the Nigerian Economy’.
Elumelu said “I am a great Beneficiary of the NewNNPC. Nigeria is a great Beneficiary of the new NNPC,”
In particular, he praised NNPC for its role in transforming Heirs Holding Oil and Gas Limited’s crude oil production from a 97% loss per day to a remarkable 96% recovery, thereby enhancing the company’s overall performance.
Aliko Dangote expressed his belief in NNPC Limited’s vast potential and described the company as having the capacity to become “Africa’s Aramco,” in reference to the Saudi Arabian oil giant, given the enormous opportunities available to it. He also stated that with such possibilities, anything is achievable.
Mallam Mele Kyari, the Group Chief Executive Officer of NNPC Limited, addressed the challenges hindering the growth of the upstream sector, ranging from security issues to the reluctance of financial institutions to finance projects, during his virtual speech at the event.
Kyari stated that the “crux of the industry is to make sure that the Upstream works. We are facing a cash crunch in the country because the Upstream has not been able to support the other sectors of the economy,”
The Annual Value Assurance Review (AVAR) Session, organized by NUIMS, the upstream subsidiary of NNPC Limited, is focused on cultivating a mutual comprehension of the organization’s strategy.