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NNPC’s N3.3Trillion FY2023 Triumph: A Glimpse into the Strategic Minds Steering Nigeria’s Oil Giant

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NNPC cautions motorists, others against panic buying

NNPC’s N3.3Trillion FY2023 Triumph: A Glimpse into the Strategic Minds Steering Nigeria’s Oil Giant

 

In a year marked by challenges and opportunities, the Nigerian National Petroleum Company Limited (NNPCL) has once again proven its mettle, reporting a record-breaking profit after tax of ₦3.3 trillion for the 2023 financial year. This remarkable figure, up from ₦2.5 trillion in 2022, signals the company’s unwavering resilience and strategic prowess amidst global economic uncertainties.

At the centre of this success is a leadership team that has adeptly navigated the complexities of the oil and gas sector. The Group Chief Executive Officer, Mele Kyari, has been instrumental in tackling the persistent issues of oil theft and infrastructure challenges, which have long hampered Nigeria’s energy sector. Under his leadership, significant milestones have been achieved, including increasing Nigeria’s oil production from about 1 million bpd to 1.6 million bpd over the last two years to the completion of the mechanical phase of the Port Harcourt refinery’s rehabilitation. The refinery is on course to restart commercial operations by Q4 2024. Kyari proudly reflects on this achievement: “The operationalisation of the Port Harcourt refinery is one of the emerging indicators that Nigeria will become a net exporter of petroleum products by December.”

While Kyari’s leadership has been critical in steering NNPC through this period of transformation, the financial stewardship behind these achievements has been equally vital. Much of NNPC’s financial success can be traced to the strategic vision and careful management of Chief Financial Officer Umar Isa Ajiya. Though often understated, his role has been crucial in aligning NNPC’s financial strategies with its broader operational goals, ensuring that the company not only meets but exceeds its financial targets.

Mr. Ajiya, a seasoned finance and business management professional with over 34 years of experience in the oil and gas industry, has been a critical architect of NNPC’s financial turnaround. His career, which began at Elf Petroleum (now Total) and later flourished at Nigeria Liquefied Natural Gas Limited (NLNG), has been marked by a series of strategic roles where he demonstrated a deep understanding of corporate finance, business strategy, and stakeholder management. At NNPC, his financial acumen has been instrumental in transforming the company into a profitable entity, a feat that had eluded it for decades.

Under Ajiya’s financial oversight, NNPC reported a substantial revenue of ₦8.2 trillion in 2023, reflecting the company’s strong market presence and operational efficiency. This financial discipline has also enabled NNPC to reduce its overall debt by ₦500 billion, a significant achievement further strengthening its balance sheet. “Our goal is not only to avoid financial losses but also to consistently add value and pay dividends to our shareholders,” Ajiya has been quoted as saying, a sentiment that underlines his commitment to ensuring NNPC’s financial sustainability.

Moreover, NNPC’s cash flow from operations significantly improved, reaching ₦1.7 trillion, a clear indication of the company’s robust management of its operational costs. This financial stability has been crucial in supporting NNPC’s broader strategic initiatives, including the ongoing battle against oil theft and the rehabilitation of critical infrastructure.

As NNPC continues to build on its successes, strong financial leadership will remain crucial. The company’s ability to navigate the complex and ever-evolving energy landscape hinges on the combined strengths of its senior leadership team. Their collaborative efforts have positioned NNPC to not only meet its immediate objectives but also secure long-term growth and stability.

In summary, 2023 has been a year of significant milestones for NNPC—a year where robust and decisive leadership has made all the difference. As the company looks ahead, it remains a cornerstone of Nigeria’s economic future, with a well-equipped leadership team to guide it through whatever challenges lie ahead. The strategic insight and financial acumen of its senior executives, working in tandem with operational leaders, will undoubtedly play a key role in shaping NNPC’s path forward.

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Adron Games 2024 Unveiled: ‘Fit to Be the Biggest’ with Sports Icons Daniel Amokachi and Mutiu Adepoju Leading the Charge

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Adron Games 2024 Unveiled: ‘Fit to Be the Biggest’ with Sports Icons Daniel Amokachi and Mutiu Adepoju Leading the Charge

 

Adron Homes & Properties is excited to announce the official unveiling of the 7th edition of the Adron Games, tagged “Fit to Be the Biggest”. The 2024 edition is set to take place at the renowned Lekan Salami Stadium, Adamasingba, Ibadan, from November 29th-30th, 2024, marking the second time the city of Ibadan will host the prestigious sporting event.

The Adron Games is a national platform designed to promote physical fitness, wellness, and community engagement through sports. Having previously held successful editions in Ogun and Lagos states, the 2024 edition is expected to attract over 10,000 athletes and fitness enthusiasts from across Nigeria.

The theme of this year’s Adron Games, “Fit to be the Biggest”, perfectly captures the spirit and ambition of the event. It signifies both the physical and metaphorical journey to greatness, where athletes, fitness enthusiasts, and even spectators are encouraged to embrace the challenge of becoming their best selves—physically, mentally, and competitively.

The theme also promotes the idea that fitness is essential to achieving greatness, whether through competitive sports or in everyday life. It motivates participants to push their boundaries and excel, whether on the field, court, or track, and ultimately reminds them that the journey toward fitness and excellence never stops.

This year’s games will feature a wide array of sporting disciplines, including Football, Basketball, Volleyball, Athletics, Table Tennis, Snooker, Shot Put, Long Jump, E-sports, and the fan-favorite Tug of War.

In a special highlight, Nigerian football legends Daniel Amokachi and Mutiu Adepoju have been announced as the official ambassadors of the event. Both are renowned for their contributions to Nigerian football and are expected to inspire athletes and spectators alike with their presence.
Key Event Highlights:
• Event Dates: November 29th-30th, 2024
• Venue: Lekan Salami Stadium, Adamasingba, Ibadan
• Ambassadors: Daniel Amokachi, Mutiu Adepoju, Vanessa Jones and MC Relax
• Sporting Events: Football, Basketball, Volleyball, Athletics, Table Tennis, Snooker, Shot Put, Long Jump, E-sports, and Tug of War
• Special Guests: Sports icons, fitness personalities, and celebrity appearances
• Participants: Over 10,000 athletes and fitness enthusiasts
• Prizes: Cash prizes, trophies, and awards for winners in various categories
Speaking at the unveiling, Daniel Amokachi emphasized the importance of corporate sponsorship in fostering young Nigerian talents, praising Adron Homes for their commitment to promoting sports.

He said “Sports in Nigeria need more support from businesses and brands to help discover and nurture talents among our youth. Organizations like Adron Homes, through their consistent support of sports, are boosting Nigeria’s global sports performance,” Amokachi said.

Meanwhile, Mutiu Adepoju lauded the unifying and transformative power of sports and commended Aare Adetola Emmanuelking, Group Managing Director of Adron Homes, for his unwavering commitment to organizing this event annually. “Sports is a powerful tool for unity and fitness, both physically and mentally. I commend Aare Adetola Emmanuelking for his continuous support of sports by organizing this prestigious event. His dedication is vital to the development of sports and the empowerment of youth in Nigeria,” Adepoju remarked.

it will be recalled that, Adron Games is an annual sporting event organized by Adron Homes & Properties to promote physical fitness, wellness, and community engagement through sports. Since its inception, the event has grown into a major national platform, bringing together thousands of athletes, corporate teams, and fitness enthusiasts in the spirit of competition and fun.

Adron Homes, through this sporting event, encourages everyone to view fitness and sports as key to unlocking personal and communal growth, building healthier lifestyles, and fostering unity across different regions, backgrounds, and demographics. “Fit to be the Biggest” represents not only the size and scope of the event but also the opportunity for everyone involved to elevate themselves and inspire others through the power of sport.

For more information, sponsorship, vendor registration and inquiries, please contact: Abiodun 08138432335

Adron Games 2024 Unveiled: ‘Fit to Be the Biggest’ with Sports Icons Daniel Amokachi and Mutiu Adepoju Leading the Charge

Adeboye Abiodun
Mnipr, Acicrm
Digital Operations and Media Relations Officer
Adron Homes and Properties Limited.
08138432335

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Three marketers to import 141m-litres petrol By Shonibare Timilehin 

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NNPC cautions motorists, others against panic buying

Three marketers to import 141m-litres petrol

By Shonibare Timilehin 

 

Three major oil marketers are expecting vessels of imported Premium Motor Spirit, popularly called petrol, this week barring any unforeseen circumstance, it was gathered on Tuesday.

Dealers said about 141 million litres of PMS are being conveyed to Nigeria by the vessels following the full deregulation of the downstream oil sector by the Federal Government.

They also noted that the recent hike in the pump prices of petrol produced by the Dangote Petroleum Refinery and released by the Nigerian National Petroleum Company Limited on Monday had allowed room for PMS imports.

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Why you should Patronize Magaja Cocktails, B.Magaja Hairway

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Why you should Patronize Magaja Cocktails, B.Magaja Hairway

 

Arguably, B.Magaja Hairway is your number one choice when it comes to quality wigs and hair accessories. It’s the haven of great selection of quality, beautiful and stylish wigs and their delivery is top-notch.

Interestingly, B.Magaja Hairway boost of a vast array of human hair wigs products which include hair fill lace wigs, human hair front lace wigs, human hair ladies wigs among others. And their pricing is affordable and highly reputed as one of the best wigs suppliers in Nigeria.

 

 

Furthermore, the delectable owner who combined beauty with brains is also the owner of Magaja Cocktails and cocktails based in Lagos. It’s the best choice order for parties, events, and home delivery. They are trusted and tested and which is why dignitaries prefer them. A trial will convince you.

Why you should Patronize Magaja Cocktails, B.Magaja Hairway

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