Business and Economy

NNPC is the most open and transparent government-owned corporate entity – Maikanti Baru organization, Managing Director

The Group Managing Director of the Nigerian National Petroleum Corporation ( NNPC ), Dr. Maikanti Baru, has described the national oil company as the most open and transparent government-owned corporate entity due to its demonstrable commitment to the ideals of probity and accountability in all its operations.

Speaking at the public opening of bids for Insurers and Brokers for NNPC Oil and Non-Oil Assets and Liabilities, the NNPC GMD explained that the practice of public harvesting or bids submitted in response to widely advertised call for tenders, the corporation has emerged a veritable champion or openness and transparency.

“In terms of transparency and accountability, I can guarantee that there is no other government agency that is more open than us. We are the only one that still publishes its account on a monthly basis, that is the uppermost point of transparency, “he said.

Baru noted that the same transparency of transactions through the corporation’s processes and procedures that has manifested itself in seamless conduct or open bid exercises for procurements across the operational value chain.

On the bidding for insurers and brokers for NNPC assets and liabilities, the GMD said that the company has only been able to invest more than $ 30 million year-on-year. and brokers within the same period.

Over 600 bids were submitted for the 2018/2019 exercise for the evaluation and selection of insurers and brokers for the NNPC Oil and Non-Oil Assets and Liabilities.

The exercise was witnessed by representatives of the Bureau of Public Procurement (BPP), National Insurance Commission (NICOM), Nigerian Content Development and Monitoring Board (NCDMB), Transparency Watch and hordes of civil society groups and organizations.

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