Sep 21, 2021

Mawazo Writing Africa

Writing about the main

NNPC’S declaration of profits will boost investor confidence, says industry expert —

An oil and gas expert, Mr Wilson Opuwei, says Nigerian National Petroleum Corporation’s (NNPC )’s latest 2020 N287 billion after-tax profit statement has boosted investor confidence in the oil and gas sector will.


Opuwei, the Chief Executive Officer of Dateline Energy Services Limited, did so on Wednesday in an interview with the Nigeria News Agency (NAN, in Lagos).

He said the declaration of the NNPC’s win, for the first time in 44 years, should be lauded by industry officials and well-meaning Nigerians.

“It’s great that the NNPC is now opening its auditing books for us to see how the company is run.

“This level of transparency and accountability is what interests investors looking to invest in Nigeria.

” In order for the NNPC to declare its profits to be audited Reports is a big plus for the industry because there is more invest opuwei said.

He said it was surprising, however, that some people criticized the report without properly understanding its meaning.

“The critics of the The timing of the announcement is only political because other national oil companies have their reports in the past.

“NNPC’s management has shown that it can compete with its peers in the global oil market, and this is very important, particularly with the passage of the Petroleum Industry Act, “said Opuwei.

He urged the management of NNPC to uphold the practice of anchoring accountability in the company’s operations to the oil and gas sector for the national Repositioning development.