Nigerian President approves new office of Deputy GMD for NNPC

October 29, 2014 | Management, Nigeria

Abuja, Nigeria | – Nigerian President Goodluck Jonathan on Tuesday announced the creation of a new office of Deputy Group Managing Director for the state-owned national oil company, the Nigerian National Petroleum Corporation (NNPC).

Issued by presidential spokesman, Reuben Abati, the statement explained that the measure was part of President Jonathan’s efforts to transform the NNPC into a commercially-driven entity.

Reuben Abati in the statement said the President has subsequently approved the appointment of Mr. Bernard Otti, the new Deputy Group Managing Director/Group Executive Director (Finance and Accounts) of the corporation.

Otti was until his new appointment, the NNPC’s Group Executive Director (Finance and Accounts).

Bernard Otti who hails from Anambra State, South-Eastern Nigeria  is said to have held senior positions in some of the largest financial institutions in Nigeria and internationally, and has also served on the boards of numerous public and private institutions.

“The new office of Deputy Group Managing Director is expected to strengthen the corporate governance structure of the NNPC and help ensure that value for money and return on investment increasingly become key factors in all operational decisions,” the statement added.