The Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Dr. Maikanti Baru has set key performance indicators for the Chief Operating Officers (COO) of the five (5) Autonomous Business Units and two (2) Directorates as efforts deepened to transform the corporation to commercially focused and profitable business.
The performance bond, tagged: “Corporate Scorecard Key Performance Indicators (KPIs)”, involves the key deliverables for the Upstream, Downstream, Refineries, Gas & Power, and Ventures Autonomous Business Units and the Finance & Accounts and Corporate Services Directorates for 2017.
These are expected to serve as key business objectives that each of the units would pursue and is expected to achieve.
The signing of the performance bond took place at the end of a 2-day Top Management Retreat and Performance Dialogue which ended today in Abuja.
Dr Baru said the significance of the Corporate Scorecard Key Performance Indicators (KPIs), it was the corporation’s way of setting up a system for measuring performance with a view to driving every unit and every staff of the corporation towards achieving strategic business goals.
They form the benchmark against which the performance of each of the Autonomous Business Units will be evaluated at the end of the year.
“These Key Performance Indicators will be the basis for evaluating each ABU’s performance. These KPIs are expected to be cascaded down to the individual business units by the COOs and down to individual staff by the respective Managing Directors and Executive Directors of the Strategic Business Units (SBUs). At the end of the day, we are going to add up the various inputs from individual staff, up to the SBU, to arrive at the performance of each ABU by the end of the year” Dr Baru explained.
He said subsequently, the achievement of the KPIs by each of the Autonomous Business Units would determine the 13th month bonus the staff of each ABU at the end of the year.