Mr Olalekan Ogunleye, the Executive Vice President, Gas, Power and New Energy at the Nigerian National Petroleum Company Limited, has expressed the organization to transparency, accountability, research, technology and innovation as key drivers of the ongoing transformation in the company.

On Wednesday, Ogunleye revealed this during a panel session held by the NNPCL at the ongoing 2024 CERAWeek Conference in Houston, the United States.

He said under the leadership of Mr Mele Kyari, NNPCL has institutionalised the use of modern technology to drive its operations titled ‘Africa’s Energy Future: Access, Investment & Sustainability’.

Ogunleye said, this has created enormous value for the company in its quest to compete with its global peers.

NNPCL had transformed into an integrated commercial entity focused on transparency and accountability, with the arrival of the Petroleum Industry Act in 2021.

He added those were the two core values for the company’s quest to float an Initial Public Offer at the stock exchange.

“Over the last five years, the NNPCL has been pushing the agenda of transparency, accountability and performance excellence. I am glad to say that we are setting very high standards, and this is a journey that we are all committed to going forward,” Ogunleye added.

Ogunleye said transparency could make any organisation attractive to its partners and potential investors.

He revealed that the NNPCL was working continuously to become IPO-ready, saying that once that was done, the IPO would be phenomenal and successful.

Ogunleye asserted that gas would continue to be an important resource for Africa “because it is the surest tool for economic development and for delivering better living standards for the teeming population on the continent”.

NNPCL vice president said the firm is at the forefront of Nigeria’s gas commercialisation efforts and flare elimination.