‘Why it’s Difficult for NNPC to Raise Private Capital’

The Nigerian National Petroleum Corporation (NNPC) is finding it difficult to access funds from private investors to undertake most of its oil and gas operations because it is unable to show that it is transparent, efficient in corporate governance and can make good returns on its investments, the Nigeria Natural Resource Charter (NNRC) has alleged.

The NNRC which is the Nigerian version of a global initiative designed to help governments and societies effectively harness opportunities created by their natural resources, explained this in a policy brief from its 2017 Benchmarking Exercise Report (BER) made available to THISDAY.

According to report titled: ‘reforming NNPC towards operational efficiency and commercial effectiveness,’ the corporation has largely failed to convince private investors of its commitment to corporate governance and commercial efficiency, in addition to failing to as part of standard practice, open its books for public scrutiny.

THISDAY, February 5, 2019

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