The Nigerian National Petroleum Company Limited has officially enrolled as a participant in the United Nations Global Compact, making it the inaugural state-owned oil company to align with this worldwide initiative.
This update came from the company’s X (formerly Twitter) profile last Thursday.
NNPC Ltd, under the leadership of Mr. Mele Kyari, its Group Chief Executive Officer, has solidified its commitment to the UN Global Compact by signing the Letter of Commitment.
The signing was done on the sidelines as President Bola Tinubu held his session during the Global Africa Business Initiative at the ongoing United Nations General Assembly in New York, United States.
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Following the signing, Kyari stated that NNPC Ltd., a versatile global energy enterprise spanning the entire energy value chain, becoming a part of the UN Global Compact, reaffirms Nigeria’s resolve to cooperate with worldwide partners in pursuit of an equitable Energy Transition.
The GCEO added that with this development, NNPC Ltd. supports the Ten Principles of the UNGC on human rights, labour, environment and anti-corruption.
What the UN is saying
The Executive Director of the UN Global Compact Network Nigeria, Ms. Naomi Nwokolo, emphasized NNPC Ltd.’s recent entry into the UN Global Compact as a crucial milestone in nurturing a culture that prioritizes ethical business practices, environmental responsibility, and social accountability during her remarks following the signing ceremony.
- “With Nigeria being one of the largest producers of crude oil in Africa, a transition from an energy system driven by fossil fuels to one based on renewable energy will have a far-reaching positive impact, serving as a catalyst for sustainability in-country, on the continent and the world at large.
- “The UN Global Compact, formally launched in July 2000, is a voluntary UN agreement designed to encourage companies around the world to develop, implement and disclose responsible and sustainable corporate policies and practices.”
Taking on to X (formerly Twitter), the Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, also commended the initiative, emphasizing that such a move will spur Nigeria’s economy to a new positive trend.
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- “Today, I am proud to announce a historic achievement for our nation. Just moments ago, NNPCL, a state-owned Oil Company in Africa, made history by becoming the first in the continent to join the United Nations Global Compact which stands as the world’s largest voluntary corporate sustainability initiative.
- “This momentous occasion unfolded at Global Africa Business Dialogue, right alongside the prestigious UNGA78 event.
- “I firmly believe that this significant step will not only bolster our economic prosperity but also contribute to a more environmentally conscious future. This achievement reflects our vision and dedication to fostering positive change in our country.”