By Prince Okafor
THE Nigerian National Petroleum Corporation, NNPC, yesterday said it will implement a 12 Business Focus Area, BUFA, to institutionalise efficiency, profitability and growth.
The Group Managing Director, NNPC, Dr. Maikanti Baru, made this known while receiving the reports of the eight committees charged with the task of developing appropriate strategies to drive the implementation of the 12 BUFA in the corporation.
Baru directed the Chief Operating Officers of the corporation to start immediate implementation of the policy framework, adding that they could revert to management, should there be any grey area requiring further intervention.
He added that in such cases, the documents would be subsequently reviewed jointly by NNPC management and the committees, followed by full implementation.
He also noted that though the planning stage of transformation initiatives was usually slow, the implementation of the 12 BUFA would herald phenomenal growth that Nigerians can attest to.
Some of the components of 12 BUFA, initiated by the Baru, include ensuring security of NNPC assets, developing new business models that would grant autonomy to the various units of the corporation and settling Joint Ventures Cash Calls.