|
Listen to article
|
NNPCL, Nigeria’s leading state-owned energy corporation, has remitted ₦10 trillion to the federation account, earning the title of the country’s top taxpayer. Furthermore, it distinguishes itself as the only company in Nigeria committed to publishing its financial statements in their entirety every year.
The Group Chief Executive Officer (GCEO), Malam Mele Kyari, disclosed this information on Wednesday while presenting NNPCL’s 2024 revenue performance review and 2025 projections to the National Assembly’s joint Finance Committee. His remarks provided a detailed insight into the corporation’s financial trajectory and future outlook.
Additionally, Malam Mele Kyari called for a detailed forensic audit to scrutinize the expenditures incurred by NNPCL in stabilizing fuel prices and guaranteeing an uninterrupted petrol supply between January and September 2024. He stressed the importance of accountability in managing such significant financial commitments.
“Until October 1, 2024, NNPCL, as mandated by the Petroleum Industry Act (PIA), acted as the supplier of last resort for fuel supply,” he said.
Read also: Tinubu Commends NNPCL Over Reopening Of Warri Refinery
“A forensic audit is needed to determine the financial obligations of NNPCL and any owed entities. Our transactional accounts are transparent and published annually, reinforcing our status as the top taxpayer and the highest contributor of royalties and dividends.”
Regarding the company’s 2025 revenue projections, Kyari indicated that a definitive figure would be provided after the upcoming board of directors meeting in two weeks. He assured the committee that the parameters for the 2025 budget were both realistic and achievable.
In a related development, the National Assembly raised the 2025 projected revenue for the Nigerian Ports Authority (NPA) to ₦1.75 trillion, underscoring the need for increased revenue generation across key government agencies.
