NNPC saves $30m on Insurance premium in 3 years – Baru



The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru on Thursday said that the corporation had saved 30 million dollars from insurance premium in the past three years.

Baru disclosed this at the 2018/2019 bid opening for Insurance Companies and Brokers for NNPC Oil and Asset Liability, in Abuja.

He said that the Corporation had insisted on transparency in carrying out its bidding processes, saying that this had brought about positive changes in business transactions.

“The bidding process has helped NNPC to bring in more participants in all it is doing, especially with the Insurance brokers.

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“Last year, about 500 insurance firm and brokers participated in the process and this year as at the close of submission by noon, we have recorded over 600 participants.

“This multiplicity has helped the…

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