NIPCO positions for new regulatory environment
Sopuruchi Onwuka
The Nigerian Independent Petroleum Company (NIPCO) has declared readiness to align its operations with the emerging regulatory environment as the Petroleum Industry Act (PIA) rolls into effect.
The Oracle Today reports that the new law comes with far reaching changes in the regulation of commercial operations across the full spectrum of the Nigerian petroleum industry. The PIA specifically carves a robust regulatory framework and enforcement institutions for the upstream and downstream sections of the industry respectively.
The law also provides for the deregulation and liberalization of the domestic fuel market to enable players unleash their full potentials for value creation.
In his New Year message to the workers of his company, Managing Director, Mr Suresh Kumar, declared that NIPCO has positioned for the emerging regulatory and operating environment.
He urged the company’s workforce to also prepare for improved service delivery in 2022.
Mr Kumar who expressed his gratitude to the workers for their over the years, said the New Year offers the fuel marketing company a lot of opportunities which must be optimized. He pointed at the dedication and commitment of the workers as an immense contribution to the company’s resilience.
He said the company would continue to take its pride of place within the context of the emerging downstream sector under the PIA, and urged the employees to brace up for the challenges ahead.
“The entire workforce of the company needs to develop more synergy towards sustaining the company’s milestones and moving it to a higher level of efficiency for her to continue to occupy its pride of place within the context of the emerging downstream sector under the Petroleum Industry Act [PIA]
“Our collective contributions in the outgoing year towards achieving milestones set by the promoters are commendable; nevertheless this is not to suggest that there is no room for improvement. I want you to note that with the enactment of the PIA, we all should be on our toes in order to improve our bottom line,” he stated.
He promised that the management of the company would continue to provide the right incentives and environment for effective and efficient workforce.
“I am honoured to lead a highly resourceful and competent crop of workers of your caliber, even as I urge that we continue to work hard as we usher in a new year
“My charge to you all is that you should be ready for more challenges and responsibilities in the year 2022 as such is the sure pathway to our success in the New Year and even beyond,” he stated.
