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By Adewale Sanyaolu
NIPCO Plc, an integrated downstream operator in the nation’s oil and gas industry has announced plans to deepen its investment footprints with fresh opportunities the Petroleum Industry Act (PIA) is expected to bring on board.
The investment plan was disclosed to shareholders by Managing Director/Chief Executive Officer (CEO) of NIPCO Plc, Mr. Suresh Kumar, at the 18th Annual General Meeting (AGM) of the company held at Transcorp Hilton Hotel, Abuja, last week.
Kumar said against the backdrop of opportunities being presented by the Petroleum Industry Act (PIA), the company is hopeful to use it to further drive it’s mission of meeting the needs of stakeholders in the deregulated downstream sector .
‘‘This year, 2022 will be significant for operators in the oil and gas industry with the PIA implementation and attendant reforms.
We hope to harness the business opportunities in the country and significantly expand our investment in the industry within the framework of right operating which is key to boosting investors confidence,” the MD posited.
According to him, NIPCO is poised to continually taking it’s pride of place in the context of emerging downstream sector under the PIA .
Kumar promised that the company will continue to be transparent, diligent, socially responsible and operate within the ambit of good corporate governance in the best interest of stakeholders.
He added that NIPCO intends to consolidate the gains of the past years and take full advantage of the great potential of the industry for higher growth.
