Economic Council Sets up Committee to Look into NNPC’s New Status

The National Economic Council, NEC, on Thursday, set up a committee to look into the new status of the Nigerian National Petroleum Corporation, NNPC.

This followed issues raised by state governors at the meeting of the Council presided over by Vice President Yemi Osinbajo.

Senior Special Assistant to the President on Media and Publicity (Office of the Vice President), Laolu Akande, who briefed the media after the meeting, said that issues raised by the governors included that of ownership.

“On the direction of the vice president, the council resolved to set up a sub-committee of Council that will liaise with the appropriate federal government officials to look at all the issues that have arisen as implications of the new status of the NNPC Ltd and also issues around the PIA,” Akande said.

NSIA activities
Governor Abdullahi Sule of Nassarawa State, said that the Managing Director of the Nigerian Sovereign  Investment Authority, NSIA briefed the NEC on various activities of the company especially on the 2021 performance.

According to Sule, the company delivered impressive financial results underscoring the resilience of the strategy.

“For the 9th year in a row, the NSIA has consistently remained profitable; closing the year, 2021 with a performance of N153.8 billion which is slightly, 99.1 per cent below the 2020 figure of  N156. 5 billion.

According to the Governor, “The total comprehensive income declined marginally in 2021 by 8.2 per cent which actually closed at N160.1 billion.

“The NSIA has reached major milestone across domestic infrastructure in the year under review in terms of projects such as motorways, agriculture, healthcare, technology as well as industrialisation.”

Governor Sule said that the council accepted the report with commendation by all the members of the council to the management and board of NSIA for a very impressive performance.

He said the vice president expressed deep appreciation to all the governors and council members for the several get-well wishes sent to him.

Confidence Okwuchi