NNPC chiefs sign performance bond

NNPC MD Maikanti Baru

The Chief Operating Officers of the five autonomous business units and two Directorates of the Nigerian National Petroleum Corporation (NNPC) have signed a performance bond with the corporation’s Group Managing Director, Dr. Maikanti Baru.

NNPC in a statement by its spokesman Ndu Ughamadu said the signing was an advancement in the transformation of the NNPC into a commercially focused and profitable business organization.

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

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

The signing of the performance bond took place at the end of a 2-day Top Management Retreat and Performance Dialogue which ended today in Abuja. 

Speaking on the significance of the KPIs, Baru said it 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.

According to the GMD, they form the benchmark against which the performance of each of the Autonomous Business Units will be evaluated at the end of the year.

He said subsequently, the extent of the achievement of the KPIs by each of the Autonomous Business Units would be used to determine how much of the 13th month bonus the staff of each ABU will enjoy at the end of the year.  

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