NNPC saved $30m in insurance premiums, says Baru

The Group Managing Director of NNPC, Maikanti Baru PHOTO: TWITTER/NNPC

Corporation denies having 70,000 workers
The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, yesterday said his organisation had saved $30 million in insurance premiums in the last three years.

Speaking at the 2018/2019 bid opening for Insurance Companies and Brokers for NNPC Oil and Asset Liability in Abuja, Baru noted that the corporation had harped on transparency in all processes, adding that the development brought about positive changes in transactions.

The News Agency of Nigeria (NAN) quoted him as saying: “The bidding process has helped NNPC to bring in more participants in all it is doings, especially the insurance brokers.”

He added that the agency worked collaboratively with the National Insurance Commission (NAICOM), Bureau of Public Procurement (BPP), Nigerian Content Development and Monitoring Board (NCDMB) and some non-governmental organisations in the bid process.

Besides, over 600 insurance firms have indicated interest to insure the agency’s assets.

Also yesterday, the corporation denied having 70,000 workers in its employ, just as it dismissed a rumoured staff performance probe.

In a statement, the Group General Manager, Group Public Affairs Division, Ndu Ughamadu, explained that the NNPC has never at any point in its history maintained such number of employees.

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