NAIJA BIZ

New oil discovery to facilitate massive job creation – NNPC

The National Petroleum Corporation of Nigeria (NNPC) has disclosed that the discovery of oil in the Upper Gongola Basin of Benue Trough would lead to massive creation of jobs.

According to Guardian, the Group Managing Director NNPC, Mele Kyari, at the ninth Practical Nigerian Content Summit in Yenegoa, yesterday stated that the country’s economy would benefit from the recent discovery of hydrocarbon deposits in the Kolmani River II of the country’s inland basin.

Meanwhile, Mele Kyari, represented by Chief Operating Officer, Corporate Services, NNPC, Farouk Sai’d, Kyari said that with the initiation of other processes, the economy stands a chance to benefit from the thousands of direct and indirect employment which would be created.

Between the discovery of hydrocarbon in the Gongola basin and bringing the oil to the market, a lot of processes would be triggered which would snowball into a labyrinth of productive activities with the potential for massive job creation across the value chain,” said Mele Kyari.

However, the NNPC noted that one of its upstream subsidiaries, Integrated Data Services Limited, (IDSL) had recorded an increase in its revenue base from N5.5 billion in 2016 to N19.033 billion in 2018.

The Chief Operating Officer (COO), Upstream Directorate of the NNPC, Roland Ewubare, described the performance of the subsidiary as extraordinary, stating that the subsidiary had become self-sufficient and would not require any allocation from the corporate headquarters no more.

If anything, IDSL now contributes to the centre; we will continue to give them the needed support to ensure that they sustain this growth trajectory, the only way we can grow is when businesses like this deliver positive results, to enable us collectively overcome our financial challenges,’’ said NNPC Management.

However, the Managing Director, IDSL, Diepriye Tariah, attributed the performance of the company to the reorientation of the staff who, he said, had become more commercially focused and efficient. The NNPC disclosed that it would continue to give all necessary support to all its subsidiaries with capacity and prospect to deliver.

Leave a Reply

Your email address will not be published. Required fields are marked *