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The one day ceremony was aimed at deeping the awareness of Project PACE and communicate both government's and management's commitment to the project.
Welcoming participants, the Group Managing Director, Engineer Funsho Kupolokun, refreshed their memories on the objective of Project PACE- transforming NNPC into a world-class oil and gas company as articulated in its original mandate stressing that it is pivotal in the implementation of the Federal Government's national oil and gas agenda.
The GMD explained that at the beginning of Project PACE in July 2004, the corporation was faced with key issues which included a lack of focus; weak culture of accountability for results; non-capitalisation; absence of execution/commercial mindset; adequate leadership; inadequate managerial capacity and weak enabling process.
He further said that the presentation of Project PACE assessment of NNPC to NNPC management at a visioning retreat at the end of Phase 1 (Diagnostic Phase) led to enhanced performance to NNPC's key stakeholders and a shared understanding of the optimal route for achieving the strategic objectives.
Engineer Kupolokun listed some of the early achievements of Project PACE to include the reawakening of NNPC to the tough realities of its current position and repositioning to respond more vigorously; the recruitment of new talent at all levels sourced to support new transformation drive; empowering and reequipping of NPDC to emerge as a competitive owner and operator of Oil Assets on the path of rapid growth; the restructuring of NAPIMS to be more effective; a new digital Petroleum Market Place to enhance commercial processes conceptualized and new local content drive.
For Phase 2, he disclosed that NNPC's culture brand would be Professionalism & Excellence, Teamwork & Open Communication, Ownership & Consequence Management, Safety, Innovation, Performance Empowerment and Enterpreneurship, Respect & Trust.
Engineer Kupolokun reiterated NNPC's commitment to the six key attributes defining high performance: strategy, technology, operational excellence, leadership, organization & governance, people & culture during Phase 2. He further pledged management's commitment to sustaining executive level sponsorship of Project PACE.