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NNPC Assures of Transparency in Selection of Lead Insurer for Oil Assets

The selection of insurer for the Nigerian National Petroleum Corporation’s (NNPC) assets in the 2020/2021 would be transparent, just as is the practice in other areas of the corporation’s operation nationwide, the National Oil Company has said.

The Group Managing Director of NNPC, Mallam Mele Kyari, gave the assurance today at the NNPC Towers, Abuja, during the public bid opening exercise for companies that participated in the expression of interest as lead insurer for the corporation’s oil assets for 2020/2021.  

“I am reassuring this country and the rest of our stakeholders that we are poised to make sure that this company acts and works transparently; we will remain accountable to our stakeholders. As a matter of duty for me and the management team, we will deliver on this”, the GMD stated.

He advised the companies that participated in the bid to accept the results as only the best would emerge winner.

Also speaking at the event, the Chief Financial Officer of the corporation, Mr. Umar Ajiya, said a key attribute of an organization like the NNPC was the protection of human assets, adding that the exercise was in pursuance of that objective.

He disclosed that a total of 42 companies submitted bids for the lead insurer contract, adding that each of the bids would be assessed on its own merit.

On hand to witness the bid opening process to ensure conformity with the public procurement law were representatives of the Bureau of Public Procurement (BPP), the Nigeria Extractive Industries Transparency Initiative (NEITI), National Insurance Commission, and civil society organisations.

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