NNPC renews commitment to RE in new business plan

The Nigerian National Petroleum Corporation (NNPC) would focus on renewable energy development in a new lead business programme it plans to pursue.

Tagged the 12 Business Focus Areas (BUFA) which aims to institutionalize efficiency, profitability and growth in NNPC’s businesses, the corporation said within it, renewable energy would be given priority consideration.

NNPC’s Group Managing Director, Dr. Maikanti Baru, recently received reports of the eight committees he set up to develop appropriate strategies to drive the implementation of the 12 BUFA in Abuja. He said the corporation would go ahead with the implementation of the BUFA component.

He noted that the 12 BUFA would focus on renewable energy and frontier exploration, security of NNPC assets, development of new business models that would grant autonomy to the various units of the corporation, as well as settlement of Joint Ventures Cash Calls.

Baru also listed the ramping up of crude oil production and reserves growth, growth of NPDC’s operations and focus on gas development for both domestic and export markets as part of the BUFA.

He said the corporation would also focus on upgrading existing refineries and creating opportunity for refining expansion, revamp of oil and gas infrastructure, pursuit of profitable ventures and common services, as well as upgrade of professionalism and accountability in the corporation.