• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, August 28, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

ICSAN Lauds Federal Govt On NNPCL Unveiling

by Sivowaku Abiodun
3 years ago
in Business
NNPC

NNPC

Share on WhatsAppShare on FacebookShare on XTelegram

The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has lauded the federal government for the unveiling of the Nigerian National Petroleum Company Limited (NNPCL) as a new entity to replace the extant Nigerian National Petroleum Corporation (NNPC).

Advertisement

Recall that President Muhammadu Buhari officially unveiled NNPCL as a successor to the NNPC in Abuja on Tuesday, July 19, 2022, in reference to the provisions of the Petroleum Industry Act(PIA) 2021.

The development has freed the company from institutional regulations and given it the power to conduct its affairs as a private company.

ICSAN, in a statement by its president, Taiwo Gbenga Owokalade, and made available to journalists, described the development as a positive one for the Nigerian economy.

The ICSAN boss further stated that the measure would ensure greater efficiency and boost transparency in the oil and gas sector.

RELATED

Air Peace Lauds Minister Over Installation Of Airfield Lighting On Lagos Airport

Tinubu’s Brazil Visit Yielded Air Peace, Embraer MRO Agreement – Onyema

8 minutes ago
Large-cap Stock Drives Local Bourse To N180bn Gains

Bulls Lose Steam As Equities Market Dips By N325bn Amid Profit Booking

10 minutes ago
ADVERTISEMENT

Owokalade said: “ICSAN sees the transition of NNPC from a public corporation into a limited liability company as a positive development for the Nigeria economy. The new entity, NNPCL is now a commercially-oriented national petroleum company with all the attributes of a thriving private enterprise.

“As a leading professional Institute on corporate governance and public administration, we applaud the vision behind this structural substitution of the NNPC with NNPCL, which is to ensure greater efficiency and transparency in the oil exploration and distribution system.

“We believe the new entity is more structurally poised and organically well-adjusted to provide a pivotal role for the sector.”

ADVERTISEMENT

This transition to a private company, he stressed, will enable the company to be more value-driven and its operations more inclined to conform to international best practices.

“This is a very laudable development and we comment on it for the positive implications it portends for the energy sector and the nation’s economy in general,” he said.

Owokalade advised the management of NNPCL to ensure that the principles of corporate governance are well-entrenched in the new entity for the firm to fully reap the benefits of its emergence as a private company.

He said: “we will however further advise that there must be an adequate framework of risk management and control system within the new entity, NNPCL.

“Furthermore, proper checks and balances must be built into the system to ensure effective operation and efficiency of the company is not at any time compromised.”

 


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: NNPCL
SendShare10170Tweet6356Share
ADVERTISEMENT
Previous Post

Small Arms: Group Lauds Senate For Passing Bill To Establish Commission

Next Post

USLACC To Build 16 Industrial Parks In Nigeria

Sivowaku Abiodun

Sivowaku Abiodun

You May Like

Air Peace Lauds Minister Over Installation Of Airfield Lighting On Lagos Airport
Business

Tinubu’s Brazil Visit Yielded Air Peace, Embraer MRO Agreement – Onyema

2025/08/28
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Bulls Lose Steam As Equities Market Dips By N325bn Amid Profit Booking

2025/08/28
Kogi Stakeholders Task Federal Gov’t On Ending Benue Killings
Business

Tinubu Promises Continued Support For Capital Market Reforms, Expansion

2025/08/28
Press Release – Response To Allegations Against Segilola Resources Operating Limited By Osun State Gov’t
Business

Segilola Resources Delivers Free Medical Services To Host Communities

2025/08/28
Nigerian, Qatari Energy Ministers Agree To Deepen Gas Partnership
Business

Nigerian, Qatari Energy Ministers Agree To Deepen Gas Partnership

2025/08/28
Press Freedom Day: Gov Eno Tasks Journalists On Constructive Reportage   
Business

Gov Eno Pledges More Funding As Ibom Air Gets 35 Cadet Pilots

2025/08/28
Leadership Conference advertisement

LATEST

Tinubu’s Brazil Visit Yielded Air Peace, Embraer MRO Agreement – Onyema

Bulls Lose Steam As Equities Market Dips By N325bn Amid Profit Booking

Kwara: Criminals Suffer Mass Casualties, Dozens Of Kidnap Victims Escape

Tinubu Promises Continued Support For Capital Market Reforms, Expansion

Segilola Resources Delivers Free Medical Services To Host Communities

Nigerian, Qatari Energy Ministers Agree To Deepen Gas Partnership

55th Birthday: Medical Verdict Told Me I Won’t Live Beyond 35 Years — Komaiya

Gov Eno Pledges More Funding As Ibom Air Gets 35 Cadet Pilots

Group Protests At NNPCL, Demands GCEO’s Resignation

Experts Urge AI, Tech Adoption To Drive Nigeria’s Economic Diversification

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.