Group commends NNPC for upscaling PPMC’s annual profits

The Anti-Pipeline Vandalization/Oil Theft & Illegal Bunkering Task Force has commended the Executive Vice President, Downstream at the Nigerian National Petroleum Company Limited (NNPCL), Isiyaku Abdullahi, upscaling the annual profits of the Petroleum Products Marketing Company Limited (PPMC) from N3 billion to N19 billion.

According to the task force, the reforms which is the initiative of the NNPCL, under the watch of Isiyaku Abdullahi, have impacted and galvanised that part of the oil and gas value chain.

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The National Coordinator of the Task Force, Comrade Pathfinder Fiawei, further explained that the achievement of Abdullahi shows that he is a square peg in a square hole as his performance is traced to his days as Business Advisor to Group General Manager/CEO (NAPIMS) and currently Managing Director of PPMC.

The Coordinator of the group said: “We are a critical stakeholder in the oil and gas sector, and we have painstakingly assessed and monitored the Executive Vice President, Downstream at the Nigerian National Petroleum Company Limited, NNPCL, EVP, Isiyaku Abdullahi, Downstream, and have seen his convincing impact that has changed the narrative in the history of the oil and gas sector in this country.

“The EVP Downstream is a man of transparency and integrity whose administrative prowess and wealth of experience along with a dogged team are making a great impact that has passed our test of integrity.

“We hail and laud your pragmatic reforms carried out downstream of the nation’s oil and gas sector, which these reforms have placed Nigeria’s oil and gas sector far ahead of other countries, and we hail the performance of the EVP, Downstream for this effort and patriotism displayed beyond reasonable doubt.

“In fact, there is no gainsaying about the fact that the crystalizing impact of these changes has proven the capacity of the man at the helms of affairs, which we applaud him for doing what has been neglected over the years, really it’s no longer business as usual as far as the downstream is concerned.”

Meanwhile, Pathfinder, highlighted the results of the reforms initiated and led by the EVP Downstream including; the Upscaling of the PPMC’s annual profits from N3 billion to N19 billion; Publishing NNPC’s first audited financial statements in 44 years which saved millions of dollars for the federation.

“Developing and implementing strategic financial plans and projects; Analyzing data and solving problems related to financial performance; Building financial models and forecasts for energy operations.

“We in Anti-Pipeline Vandalization/Oil Theft & Illegal Bunkering Task Force unreservedly assure you that we have thrown our heavyweight behind your office and your reforms, therefore, resolve to support and drive the sweeping changes in the downstream sector as major stakeholders in the oil and gas sector.

“We also partner with your organization to join forces to sternly fight and rout out saboteurs from the oil and gas sector who are out to cripple the nation’s economy with their activities of crude oil pipeline vandalism and illegal bunkering of our commonwealth at our detriment as citizens of Nigeria.

“We also join you to enforce transparency and accountability in the oil and gas sector as you carry out the reforms and policies to transform the nation’s downstream sector, most especially now that the nation’s four major refineries are coming on stream,” he said.