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NNPC Moves to Avert Industrial Action over Its Pension Scheme

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… As PENCOM Grants 12-Month Window for Compliance

ABUJA-The Management of the Nigerian National Petroleum Corporation (NNPC) on Monday assured members of staff and the general public that it is taking steps to avert a looming industrial action by the Corporation’s arm of the National Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) even as the National Pension Commission has given a twelve-month widow for the Corporation to comply with the Pension Reform Act 2014 as amended.

PENCOM had earlier directed the Corporation to “immediately take all necessary steps to transit to the Contributory Pension Scheme under the PRA”.

In a fresh directive dated 15 September, 2014, PENCOM stated: “In order to accommodate your concerns, the Commission hereby grants the NNPC a transition period of 12 (12) months within which to ensure full compliance with the provisions of the PRA 2014”.

The Corporation appealed to the leadership of the industrial unions to exercise restraint while it embarks on extensive engagement with PENCOM to resolve the issues.

The NNPC noted that since the commencement of the scheme in 2006, the Management and its staff have made a lot of sacrifice to maintain the existing Scheme and any premature cancellation of the Scheme may lead to avoidable labour disaffection across board.

While acknowledging the existence of some funding gaps in the scheme, the Corporation informed stakeholders that measures have since been put in place to steadily bridge the funding deficit which stood at N298 billion in 2010 and has now been provisionally reduced to N85 billion as at June, 2014.

It stated that NNPC is in the process of transferring additional real estate property valued at several billions of naira to the scheme which is currently before the NNPC board for approval.

 

It noted that NNPC Pension Fund Limited has complied with the provisions of the PRA 2014, by transferring assets in equities, bonds, Certificates of Deposits and other marketable securities to the custody of Pension Funds Administrators for management as directed by PENCOM since 2006.

 

“The NNPC Pension Fund has demonstrated its capacity to manage the Scheme successfully by managing pension assets of over N250 billion for over eight years and maintaining an excellent record of administering and paying over 9000 retirees as and when due,” the Corporation said.

The Management called on members of the public not to engage in panic buying assuring further that plans are on top gear to address the situation.

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Dangote Cement Workers Abducted In Edo

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Gunmen believed to be kidnappers have reportedly abducted an unspecified number of employees from the Dangote Cement Company Plc in Okpella, Etsako West local government area of Edo state.

The incident occurred on Monday when the workers were traveling back to Okpella town in a staff bus after work.

According to an anonymous source from Okpella community, the gunmen ambushed the bus, emerged from the bush, halted the vehicle at gunpoint, and then took the workers into the bush.

The source added “Yes, we heard of it, they said they were in a Coaster bus coming to Okpella after work when they were kidnapped by gunmen. But, we don’t know the numbers of the workers that have been kidnapped.”

Confirmation from police authorities regarding the incident was unavailable as calls and messages to the State Commissioner of Police and the Command’s spokesperson went unanswered.

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NNPC/First E&P JV Empowers NGOs With N53.4m

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As part of its Corporate Social Responsibility (CSR) initiatives, the Nigerian National Petroleum Company Limited (NNPC Ltd) and First Exploration & Production Limited (First E&P) joint venture (JV) has donated the sum of N53 million to non-governmental organizations (NGOs) in Nigeria.

Under the JV’s Impact First Initiative, the donation, targeted towards enhancing societal welfare, would address areas such as good healthcare and well-being, quality education as well as economic growth within the nation.

Speaking during the cheque presentation ceremony, NNPC Ltd’s Chief Upstream Investment Officer (CUIO), NNPC Upstream Investment Management Services (NUIMS), Mr. Bala Wunti, expressed gratitude to First E & P for initiating the laudable programme.

Represented by the Deputy Manager, External Relations, NUIMS, Mrs. Edith Lawson, Wunti highlighted NNPC Ltd’s belief in the power of CSR, stressing that the Company remains committed to working with its partners to impact the lives of the less-privileged.

Wunti said under the initiative, projects and programmes executed include the provision of classrooms, ICT Centres, laboratories and other infrastructural intervention projects, scholarships, quiz competitions, skill acquisitions, and economic empowerment, a testimony to NNPC’s dedication to fostering sustainable development in Nigeria.

Wunti described First E & P’s foresight and leadership as commendable, adding that the partner has spearheaded the initiative towards meaningful change that will ensure a better future for all Nigerians.

Among the beneficiaries of the donation were the Irede Foundation, which provides custom-made artificial limbs to child amputees aged 0-18 and Human Development Initiative (HDI), which focuses on tackling fundamental issues of poverty, injustice, neglect, deprivation, and equality among vulnerable people.

Others were the OISA Foundation, which transforms lives through interventions in the education and healthcare sectors; Cerebral Palsy Center, which renders support to families with children with cerebral palsy as well as the Niola Cancer Care Foundation, which organises awareness talks and screens communities for colon cancer.

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Niger Speaker Plans Mass Wedding For 100 Orphans Of Bandit Attacks

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In a heartwarming gesture, Abdulmalik Sarkindaji, Speaker of the Niger State House of Assembly, has announced plans to arrange marriages for 100 female orphans who lost their parents to banditry in Mariga Local Government Area.

Sarkindaji stated that he will cover the grooms’ dowries and has already obtained all necessary items for the collective wedding event.

The selected girls were chosen from a group of 170, as part of the Speaker’s constituency empowerment project to support the underprivileged.

Sarkindaji further revealed that the Niger State Governor, Mohammed Umar Bago, and the Emir of Kontagora, Alhaji Mohammed Barau, will serve as guardians for the 100 female orphans during their collective marriage ceremony.

The event, scheduled for May 24 in Bangi, Mariga Local Government Area, will also be attended by Sheikh Aminu Daurawa, the Kano State Commander General of the Hisbah Board.

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