Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), announced an outstanding revenue achievement, disclosing that the company contributed a remarkable ₦4.5 trillion to the federation’s coffers as of October 2023.
This declaration was communicated during an interactive session with the Senate Committee on Finance in Abuja on Wednesday, December 13, 2023.
Kyari emphasized the positive outcomes resulting from recent adjustments made under the Petroleum Industry Act (PIA), asserting that these changes have positioned NNPC Limited in alignment with global counterparts.
Addressing the committee, he underscored the importance of transparent and profitable business practices as mandated by the law, emphasizing NNPC Limited’s commitment to creating value for shareholders and ensuring sustained profitability.
“In compliance with directives from the National Assembly, NNPC Limited is dedicated to conducting business with transparency and profitability. Our objective is not only to prevent financial losses but also to consistently enhance value and provide dividends to our shareholders.
“I am delighted to inform you, Chairman and Distinguished Senators, that as of October 2023, we are poised to contribute ₦4.5 trillion to the federation account, making a substantial impact on our nation’s economic growth,” Kyari confirmed.
Highlighting the corporation’s expansion endeavors, Kyari brought attention to NNPC Limited’s growth, aligning it with the trajectory observed in other African National Oil Companies.
