Oil & Gas

NNPC GMD Signs Performance Contract with Top Management

228

Nigerian National Petroleum Corporation (NNPC), Group Managing Director, Dr. Maikanti Baru, has signed performance agreements with his management team to ensure that all the Autonomous Business Units (ABUs) and Strategic Business Units (SBUs) of the state-owned company deliver on their mandates.

“Signing of the Key Performance Indicators (KPIs) is important because it will guide the COOs in their operations and when we reconvene next year to evaluate activities, the document will help us to see if what was signed corresponds with delivery”, Dr. Baru said.

The signing of the performance contracts was the highpoint of a two-day NNPC Second and Third Quarter (Q2&3) 2018 Management Steering Committee (STEERCO) meeting which commenced Monday at the NNPC Towers, Abuja.

Speaking at the meeting, Dr. Baru said the Key Performance Indicators (KPIs) contained in the agreements would serve as guides to the Chief Operating Officers (COOs) to deliver tangible and measurable key deliverables in advancement of the management objectives of the NNPC.

The GMD stated that the KPIs would also serve as a management tool to gauge the performance of the Chief Operating Officers.

The GMD noted that the NNPC Q3 STEERCO meeting was a platform to assess the health of the corporation and interact with top management with a view to providing solutions to move the corporation forward.

“Through SEERCO meeting we are able to note the various businesses of the corporation that are doing well, so that we encourage them to be better; those that are not doing very well, to enable us devise means to salvage them; and those beyond salvaging, we take a hard decision to shut them down in the interest of the corporation”, the GMD stated.

While commending the management team and other participants for their maturity, Dr. Baru charged the COOs to replicate the review exercise at their various Autonomous Business Units (ABUs) and Strategic Business Units (SBUs) and cascade outcome to all staff for efficient service delivery.

He applauded the Corporate Planning & Strategy Division (CP&S) for the quality of the programme, noting that at 41, NNPC needed a change in its operational strategies, especially with the imminent passage of the Petroleum Industry Governance Bill (PIGB), to remain relevant.

Also speaking, Group General Manager, CP&S Division, Mr. Bala Wunti, expressed satisfaction that the meeting was able to achieve its two key objectives of appraising past performance and setting targets for the coming business year.

“Like you heard from the GMD, there are two broad objectives – to appraise our performance for the fiscal year 2018 and to set targets for the 2019.  I am highly delighted that those two broad objectives have been substantially achieved. We now have a performance contract against 2019 and also, been able to have a scorecard of each of our business units properly appraised and documented”.

Leave a comment

Related Articles

Just in: Again, Dangote further crashes diesel, aviation fuel to N940, N980

Dangote Petroleum Refinery has announced another reduction in diesel and aviation fuel...

NNPC Ltd., joint venture partner, unlock 12,000bpd production from Awoba Unit Field

The Nigerian National Petroleum Company Limited (NNPC Ltd) and its joint venture...

Oil prices jump on escalating crises in Middle East

Oil prices jumped on Friday while Asian markets tumbled, with global investors...

MAN, marketers, other stakeholders laud Dangote’s slashing of diesel price to N1,000/litre

The decision by Dangote Petroleum Refinery to reduce the price of diesel...

Gas critical to driving economic growth, industrial development — NNPCL GCEO, Kyari

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited...

War against oil theft: Tug boat conveying illegal diesel arrested, 115 oil thefts in one week – NNPCL

The Nigerian National Petroleum Company Limited (NNPCL) says a tugboat conveying suspected...

Reduction of petrol pump price: It’s bush telegraph, says NNPCL’s spokesman, Soneye

The Nigerian National Petroleum Company Limited (NNPCL) has denied reports making the...

Transparency, Research, Innovation Driving NNPC Ltd.’s Transformation – EVP Gas, Power, & New Energy

The Executive Vice President, Gas, Power, and New Energy of the Nigerian...

NNPC Ltd. will use gas to trigger Nigeria’s industrialization, economic development – EVP Upstream, Eyesan

The Nigerian National Petroleum Company (NNPC) Ltd. has reiterated its commitment to...

Kyari calls for differentiated energy transition for Africa

As global calls for transition to cleaner energy fuels continue to grow,...

Tinubu signs three executive orders to incentivize nation’s oil and gas projects

President Bola Tinubu has signed three new executive orders in the oil...

Tantita, NSCDC, destroy illegal large oil store in riverine area of Ondo State

The Nigerian Security and Civil Defence Corps (NSCDC) and Tantita Security Services...

NNPC Ltd, OPEC pledge collaboration to attract investments, grow production

The Nigerian National Petroleum Company Limited (NNPCL) and the Organization of the...

Port Harcourt refinery to start producing 2.2m litres of diesel, petrol daily soon – FG

The Federal Government has announced that the Port-Harcourt Refinery is gearing up...

NNPCL GCEO Kyari Hinges Wealth Creation on Energy Security

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited...

Nigeria’s oil exports rose by 60.8% in Q3 of 2023 – OPEC

The Organisation of Petroleum Exporting Countries (OPEC) has disclosed that oil exports...

NNPCL, CBN partner for seamless banking operations

In their bid to foster transparency and seamless commercial operations, the Nigerian...

NNPCL hits another milestone with 14,000 bpd production from Akpo West Field

The Nigerian National Petroleum Company Limited (NNPCL) has commenced oil production from...