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NNPC Chief Executives sign performance bond to maximise profit

Abuja – The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, on Thursday directed the Corporation’s Chief Operating Officers to sign performance bonds.

The NNPC Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, said in a statement released in Abuja that those that took part in the exercise included the COOs of the five Autonomous Business Units and two Directorates within the corporation.

Dr Maikanti Baru, NNPC boss

According to him, the exercise is a part of the transformation into a commercially focused and profitable business organization that is being taken a notch higher with the signing of a performance bond by the executivesame.

”The performance bond, tagged: “Corporate Scorecard Key Performance Indicators”, constitutes the key deliverables for the Upstream, Downstream, Refineries, Gas & Power, and Ventures Autonomous Business Units and the Finance & Accounts and Corporate Services Directorates for 2017.

”It serves as key business objectives that each of the units would pursue and is expected to achieve.”

Baru was quoted as saying that the signing of the bond was the corporation’s way of setting up a system for measuring performance “with a view to driving every unit and every staff of the corporation towards achieving strategic business goals.”.

He said the performance indicators would form the benchmark against which the performance of each of the Autonomous Business Units would be evaluated at the end of the year.

Ughamadu further said subsequently, the extent of the achievement of the performance indicators by each of the Autonomous Business Units would determine how much of the 13th month bonus the staff of each unit would enjoy at the end of the year.

He said Baru charged members of the top management to brace up for challenges ahead with a view to rising above them to position the corporation for profit.


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