Corporate Strategy and Planning

Corporate Strategy

• The corporate strategy focuses on three key levers: Vision, Mission, and Core Values.
• The Vision is to be the dynamic global energy company of choice, with a focus on reliability, consistent quality, availability, and acceptability of products and services.
• The Mission is to reliably deliver energy while continuously creating value for all stakeholders.
• The Core Values are the fundamental beliefs that the business and behavior are based on.

Recommendations for NNPC Ltd

• The recommendations are categorized into five core businesses: Upstream, Gas, Power & New Energy, Refineries, Downstream, and Non-core Business.
• Upstream: Grow, Optimize, Rationalize, and Enhance production of Oil & Gas assets.
• Gas, Power & New Energy: Upscale and expand gas processing and transportation services, invest in large-scale new energy projects, and introduce decarbonization programs.
• Refineries: Rehabilitate current assets, focus on investing in 1-2 targeted renewables projects, and optimize existing refineries.
• Downstream: Grow the retail network, enhance supply chain efficiency, and minimize operating costs.
• Non-core Business: Develop new business lines, drive long-term value delivery to stakeholders, and streamline existing unprofitable non-energy ventures.

Strategic Options

• The strategic options are categorized into four main categories: Grow, Optimize, Rationalize, and Evidence to Rationalize Portfolio.
• Each category has specific recommendations for each core business.

NNPC Limited's Mandates

• The Petroleum Industry Act (PIA) vests NNPC Ltd with the responsibility to ensure national energy security through an uninterrupted supply of affordable and acceptable energy for a fee.
• The objects in NNPC Limited's MEMART cover a wide range of energy and non-energy business activities.

Key Messages and Implications for NNPC Ltd

• Maintain upstream operations as core business, with emphasis on operational efficiency to ensure profitability.
• Maintain gas and power operations as core business, with focus on development and operation of large-scale gas utilization industries.
• Develop a robust and cost-effective supply chain and retail distribution network to ensure energy security and fuel availability.

Strategic Input

• Develop a robust IT & Data management framework, including data retention and quality management policies, security, and protection.
• Balance profitability requirements with energy security and required enablers, such as FGN funding on critical initiatives/projects.

Organizational Health Index

• Develop a robust Organizational Health Index to measure the health of the organization.

10-Year Journey

• NNPC Limited's transition to being "a dynamic energy company of choice" has been road-mapped into a 4-stage 10-year journey.
• The stages include: Immediate (Jan. 2022 – Jun. 2023), Short Term (Jul. 2023 – Dec. 2024), Mid-Term (Jan. 2025 – Dec. 2027), and Long Term (Jan. 2028 – Dec. 2032).

This quiz covers corporate strategy and planning, including external and internal context, vision, mission, and core values. It assesses the understanding of key concepts in corporate strategy and planning.