Speculations that the Nigeria National Petroleum Company (NNPC) Ltd. intended to relocate its headquarters from Abuja to Lagos have been refuted.
The denial was given by Mr. Mele Kyari, the Group Chief Executive Officer (GCEO) of NNPC, at the ad hoc committee’s investigative hearing on the purchase of OVH Energy on Friday.
Despite the company’s current status as a private corporation registered with the Corporate Affairs Commission, Kyari stated that in contrast to the petition by petitioners, there were no plans to move the company’s headquarters to Lagos.
He said the suggestion might not be unconnected with the fact that 70% of its operations were in Lagos, adding that shifting the headquarters would incur more cost on the corporation.
He said that the NNPC Ltd. had integrated its activities and relocated the appropriate personnel to their new positions.
He asserts that NNPC Ltd.’s registered headquarters are in Abuja and that the presence of the GCEO among the operational employees does not indicate that the company has relocated to Lagos.
He claimed that people who made the accusations were doing so because they did not want to relocate; this is a problem with merger and acquisition all over the world, in his opinion. We have offered them the chance to resign.
“The petitions are about the company not being able to keep them where they are not needed.”
He said that in every merger and acquisition, the prevailing culture, like service, must be allowed to take over, and that the NNPC Ltd. was doing just that.
“Merger and acquisition presents difficulties, but we are reducing their effects since we need to run the firm.
He declared, “We are doing everything we can to make sure that it has no adverse effects and that it adds value.
Speaking about the necessity of keeping expats on board, he claimed that no national oil business with limited liability did not employ foreigners, adding that it had taken him several days of persuasion to convince them to stay.
Without including those who can produce values, he claimed, “We do not have the capability and there is no way we can progress.”
The NNPC Ltd. needed to be the national oil firm that people could work with, according to Kyari, who also said that foreign partners always considered inclusion and that the NNPC needed to attract expatriates to live and work there.
On the other hand, he insisted that Nigerians should learn to express their gratitude to him for a job well done, stating, “I must say that this country should thank me, and I say it without reservation.
He claimed that prior to purchasing OVH, we were unable to achieve a profit of N18.4 billion in the first three months of 2023.
He continued, saying that up until this point, NNPC Ltd. had difficulty controlling 15% of OVH, but that they now had control of 30%.
The committee’s chairman, Rep. Hassan Na’laraba, thanked the GCEO for the explanation and noted that the problems were founded on efforts to combat corruption.
He said that there was a need for an interaction with him during supervision and that the GCOE may be brought back for more clarifications given that the committee still had a week to complete its report.