ERHC Energy Inc (ERHE)

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ERHC to expand operation in Nigeria’s onshore.

NNPC unveils transformation agenda
National News Mar 3, 2010

By Yemie Adeoye
IN anticipation of the passage of the Petroleum Industry Bill, PIB, currently before the National Assembly, the management of the Nigerian National Petroleum Corporation, NNPC, has concluded plans to formally kick-off its transformation agenda.

The launch, which is holding Friday at the corporation’s head office will signal the commencement of activities aimed at transforming NNPC from a government corporation into an incorporated public limited liability company that is commercially focused and profit-driven.

NNPC’s spokesman, Dr. Levi Ajuonuma, said this in a statement in Lagos, Wednesday.

It reads in part, “In readiness for the unprecedented reforms that the Petroleum Industry Bill is expected to bring about in the entire oil and gas industry when it is passed into law, we are formally unveiling what will constitute the NNPC transitional transformation agenda and its timeline.”

It will be recalled that the transformation agenda was set in motion last year, leading to a N27.5 billion savings in costs of operation for the corporation.

The formal launch of the transformation agenda is expected to get all workers of the corporation to key into the reform programme with a view to making a success of it.