Following the market disruption to the supply chain of Premium Motor Spirit (PMS) and the nationwide long queues that greeted the importation of millions of dirty fuel from Europe into Nigeria, Mele Kyari, the group managing director/CEO, Nigerian National Petroleum Company (NNPC) Ltd, has reassured Nigerians that the NNPC is working to curtail the situation,
He stated that that the current challenges with supply of the product across the country, “is within our control”.
Kyari stated this over the weekend at the birthday, book launch and retirement party of Johnson Awoyomi, the outgoing Managing Director of the National Engineering and Technical Company (NETCO), a subsidiary of the NNPC.
Kyari, who was the chief launcher, said the imported off-spec products have been contained, while loading and distribution to filling stations was ongoing.
According to Kyari the books were very vital to operators in the industry as they provided solutions to some of the current challenges in the oil and gas sector.
He noted that the enactment of the Petroleum Industry Act (PIA), had transformed NNPC and its subsidiaries including NETCO into commercial entities that must deliver dividends to its shareholders.
Read also: Fuel shortage getting worse as depots, petrol stations run dry
Kyari said cost optimisation was very key in driving profitability of NNPC, adding that the book would serve as a manual in sustaining the achievements made so far by the company.
The three books authored by Awoyomi are: The Cost of Fuel Scarcity in Nigeria; Maximising Government Net Revenue in the Oil, Gas and Energy Sector- Cost Engineering Perspectives, and Cost Engineering and Cost Control of Medium to Large Capital Projects.
Kyari posits that Awoyomi was a veteran of the ‘NNPC Fuel War Room’, having served the nation on numerous occasions in addressing fuel scarcity and eliminating queues at the retail outlets.
“It is important to put our experiences into perspective for generations unborn to learn. It is a privilege to have served this nation and I thank God for His mercies in my life,” said Awoyomi who joined NNPC on Nov. 17, 1992, stating that the books were based on his over 30 years experience in the oil and gas sector.
Billy Okoye, group executive director, Ventures, NNPC Ltd, said the book on cost optimisation was a practitioners manual in managing project cost, cost control, investment appraisal as well as risk analysis.
According to him, the books are also useful to others outside the industry, especially real estate developers and people with interest in project management.
Yemi Adetunji, group executive director, downstream, NNPC Ltd and one of the book reviewers said that from designing a cost management framework to instituting effective controls, the author provided detailed steps to help deliver the core objective of ensuring heads of cost are clearly understood and accounted for.
“It stresses the fact that it is a strategic imperative to pay very deliberate attention to how we assess, select and manage oil and gas investment as a country with a keen eye on the cost of production,” said Adetunji.
