• Monday, April 22, 2024
businessday logo

BusinessDay

Kyari lauds outgoing NETCO MD over contribution to oil, gas sector

NNPC to be fully privatised in one or two months – Kyari

Malam Mele Kyari, group managing director, Nigerian National Petroleum Company (NNPC) Ltd. has lauded Johnson Awoyomi, outgoing managing director of the National Engineering and Technical Company (NETCO).

Kyari, who spoke at Awoyomi’s birthday, book launch and retirement party on Saturday in Lagos, commended him for his contribution to the development of the oil and gas industry in Nigeria.

The three books authored by Awoyomi are The Cost of Fuel Scarcity in Nigeria and Maximising Government Net Revenue in the Oil, Gas and Energy Sector- Cost Engineering Perspectives.

It also includes cost engineering and cost control of medium to large capital projects.

The NNPC boss noted that the books were very vital to operators in the industry as it provides 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.

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.

On the current situation of Premium Motor Spirit in the country, he said the imported off-spec products have been contained while loading and distribution to filling stations was ongoing.

He said 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.

Read also: Awoyomi, MD NETCO launches three books on Nigeria’s oil industry

Also, Billy Okoye, Group Executive Director, Ventures, NNPC Ltd., said the need for significant cost management could not be over-emphasised.

Okoye said the book on cost optimisation was a practitioner’s manual in managing project cost, cost control, investment appraisal as well as risk analysis.

He added that it was also useful to others outside the industry, especially real estate developers and people with an interest in project management.

On his part, Awoyomi who joined NNPC on Nov. 17, 1992, said the books were based on his over 30 years experience in the oil and gas sector.

Awoyomi said: “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 on my life.”