and then subscribe. The Nigerian Gas Company Limited (NGC) was established in 1988 as one of the eleven (11) subsidiaries of the Nigerian National Petroleum Corporation (NNPC). The Nigerian National Petroleum Corporation (NNPC) is the state oil corporation which was established on April 1, 1977. This is asides the accusation of unremitted funds of over $49.8 billion levied against the corporation by the Central Bank of Nigeria in 2013. Even though you are not interested in working with nnpc, knowing their functions is good as no knowledge is a waste. The NNPC has its headquarters in Abuja. Harcourt in 1965. Over the years, crude oil and product theft has been major security challenge for NNPC. In order to ensure that stakeholders and host communities where operations of the NNPC are carried out derive maximum benefits from the Corporate Social Responsibility Projects and programs, the NNPC employs a number of strategies, such as : Stakeholder’s Engagement: This involves a participatory partnership between all stakeholders in the communities for the identification and development of Sustainable Community Development (SCD) projects. The signing of the Bill into law would allow for the unbundling of the Nigerian National Petroleum Corporation (NNPC) which is one of the world's most amorphous and incandescent corporations bundling regulatory and market competing functions in the same entity. Progression, improvement and curiosity keep us growing both as a company and as individuals. The Food and Agriculture Organization of the United Nations (FAO) leads international efforts to defeat hunger and to support development in member countries in the areas of agriculture, fisheries and forestry. production industry, To supervise all operations of the Gas Functions Of Nnpc. The functions of NNPC include: To oversee the development of the oil sector in the production process To determine and fix the price of products It states that the Minister shall at the incorporation of NNPC Limited, consult with the Minister of Finance to determine the number and nominal value of the shares to be allotted, which shall form the initial paid-up share capital of NNPC Limited and the Federal Government shall … Maybe you are one of those that are really bothered about the functions of NNPC, this article will give you a simple explanation of what you are looking for. charge of exploration activities and is also have the powers to operate in the Problems of Land Tenure System in Nigeria, Solutions to Election Problems in Nigeria, How to Get a Birth Certificate in Nigeria, Chief Justice of Nigeria: Office Holders till Date, Nigeria Airforce Requirements for Recruitment, To  oversee the development of the oil sector in the production process, To determine and fix the price of products, To govern all activities in the oil production industry, To supervise all operations of the Gas production industry, Management of all joint activities between the Nigerian Federal government and foreign corporations, The NNPC handles business information such as investment opportunities and profits, Serves as a consultancy firm to the Nigerian government and other related industries in issues concerning oil and gas, In charge of engineering and technology divisions. President Muhammadu Buhari on Tuesday approved N5billion for the National Identity Managment Commission (NIMC) to enable it deliver the national digital economy project effectively with appropriate infrastructures. And now, the Petroleum Industry Bill 2020 has listed specific functions agencies that will replace the state oil firm when the proposed law is passed and signed by the President Muhammadu Buhari. These goals This is to inform the depositors, creditors, shareholders and the general public that the operating licenses of the under listed Forty-Two (42) Microfinance Banks (MFBs) have been revoked by the Central Bank of Nigeria (CBN) effective 12th November, 2020. The Nigerian National Petroleum Corporation (NNPC) is the state oil corporation which was ​established on April 1, 1977. You can also check out the functions of the Department of Petroleum Resources (DPR) to get a better synergy of the two. The present Nigeria National Petroleum Corporation (NNPC) will be reformed and incorporated as the Nigerian National Petroleum Company Limited (NNPC Limited) to assume a … It, therefore, makes sure to deliver its Corporate Social Responsibilities guided by social, environmental and safety standards. Nigeria’s oil industry, and through which the Federal Government of Nigeria, Use the subscription form found on this page to enter your email The corporation is in The Mastercard Foundation seeks a world where everyone has the opportunity to learn and prosper. In 1988, the NNPC was distributed into strategic Business Units and Corporate Services Units which covered the entire operations of the oil industry and were situated in diverse locations across the country. The functions of the NNPC include: To oversee the development of the oil sector in the production process To determine and fix the price of products To ensure a regular supply of products Just like for instance, The monetary sector is managed by the central bank, financial crimes are handled by the Economic Financial and Crime Commission (EFCC) and so on. Senate considers bill to detect fraud in public, private corporations, agencies. production. The Nigerian National Petroleum Corporation was established as a merger of the Nigerian National Oil Corporation and the Federal Ministry of Mines and Steel on the 1st of April, 1977. This included commercial investments, distribution, engineering, exploration and production, gas development, petrochemicals and refining. The NNPC is an acronym for the Nigerian National Petroleum Corporation. NNPC insists no hike in petrol price, as PPPRA deletes template announcing increase By News Editor 2 hours ago 0 Bandits kill seven, injure others in fresh Kaduna attack It would ensure efficient, safe, effective and sustainable infrastructural development of midstream and downstream petroleum operations. Functions of NNPC (Nigerian National Petroleum Corporation), functions of the Department of Petroleum Resources (DPR), Complete List Of Oil Producing States in Nigeria (Updated), Natural Resources in Nigeria as Distributed in the 36 States and FCT, Types of Citizenship in Nigeria and How One Can Be Deprived From It, Procedure for Change of Name in Nigeria after Marriage, Bank Errors, Nigeria Passport etc, Governor Okezie Ikoeazu Receives COVID-19 Astrazeneca Vaccine Today in Umuahia, Femi Adesina Receives First Dose of COVID-19 Astrazeneca Vaccine Today …, Abia Social Media Converge: Readjustment of the Program in Adherence …, Governor Ikpeazu To Interact With Abia Youth On St Valentine’s …, Woman Bags 2 Weeks Jail Term For Indiscriminate Dumping of …, To oversee the development of the oil sector The Nigerian National Petroleum Corporation (NNPC), needing to booster its Exploration activities, Refining, Petrochemicals, Product transportation as well as Marketing was commercialize into Twelve (12) Strategic Business Units (SBU). Also read: Complete List Of Oil Producing States in Nigeria (Updated). NNPC Nigerian National Petroleum Corporation was created for the purpose of adding It is reported that no one has been punished for these allegations and the sums are still unaccounted for. NNPC is an acronym which The Nigerian National Petroleum operation has many times over the years been accused of corruption, mismanagement of funds and heavy fraud. Asked if the NNPC had started bearing subsidy cost, he said, “I think it would be premature to say because it has to be based on whatever PPPRA works out as to the pricing. The exco had approved the adoption of the Odua anthem to be sung immediately after the National Anthem at official and public functions. Each of these units has their heads as the chief operating officer (COO), the Divisions are headed by Group General Managers (GGM) while the subsidiary companies are headed by Managing Directors. NNPC was created for the purpose of adding value to the nation’s hydrocarbon resources for the benefit of the nation’s economy and other stakeholders. In 2011, KPMG, a Nigerian Audit firm detailed the NNPC’s sharp practices, illegal deduction of funds and failure to account for several billion that ought to have been remitted to the federal government. divisions. Causes of ethnic conflict in Nigeria are many but we will focus on primary ones that government should deal with to stop the menace at once. It aims at growing the Nigerian economy with gas by pursuing three key strategies: Stimulate the multiplier effect of gas in the domestic economy. In that case; The Nigerian National Petroleum Corporation (NNPC) initiated a recruitment scheme and since then, until date the NNPC recruitment have been a yearly scheme. So, that is the major functions of the NNPC in case you are yet to know. on the 1st of April, 1977. Enter your email address to subscribe to this blog and receive notifications of new posts by email. also manages all joint businesses between the Nigerian federal government and PIB Lists Functions Of New Agencies To Replace NNPC . stands for Nigerian Petroleum Corporation. refining industry, petrochemicals, and The A degree does not mean that your learning journey has ended. The Corporation also manages all joint businesses between the Nigerian federal government and other foreign multinational corporations, which include Royal Dutch Shell, Agip, ExxonMobil, Total S.A, Chevron, and Texaco (now merged with Chevron). It was because, FAAC, chaired by the Minister of Finance, Mrs. Kemi Adeosun and commissioners of the 36 states of the federation as members, had insisted on full disclosure on remittance by the NNPC. Agip, ExxonMobil, Total S.A, Chevron, and Texaco (now merged with Chevron). So, what is the main function of NNPC? UNODC was established to assist the UN in better addressing a coordinated, comprehensive response to the interrelated issues of illicit trafficking in and abuse of drugs, crime prevention and criminal justice, international terrorism, and political corruption. Established on April 1, 1977, NNPC is the oil corporation through which the federal government of Nigeria regulates and participates in the country’s petroleum industry. ). Notify me of follow-up comments by email. Other bills signed into law were a law on Tree Planting and Conservation, and the repeal of a 2017 bill on … Divestment of the Nigerian National Petroleum Corporation (NNPC) into smaller units with specific roles, which many believes will make the corporation more efficient and effective. The bill states that the NNPC Limited must be incorporated six months after the commencement of the Act by the minister under the Companies and Allied Matters Act, as a limited liability company. It is the corporation in charge of other foreign multinational corporations, which include Royal Dutch Shell, A Federal High Court sitting in Kano has ordered the immediate suspension of Ajaokuta, Kaduna and Kano (AKK) Gas Pipelines project in Kano State. Monitoring and evaluation of projects: To ensure they are executed in line with agreed project scope and budget and with quality and value of money spent. Bauchi State Governor Bala Mohammed has signed into law, a bill establishing the Bauchi state Oil and Gas Academy, Alkaleri, and two other bills. Application Deadline: August 8th 2021.
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