Group Chief Executive Officer, GCEO of the Nigerian National Petroleum Company Limited, NNPCL, Mallam Mele Kyari has said that the company delivered N4.5trillion revenue to the Federation Account from January to October this year.
According to him, this was achieved following the successful transition of the Nigerian National Petroleum Corporation, NNPC to a commercially driven National Energy Company, the NNPC Limited as it has been repositioned.
Speaking, yesterday, in Abuja, when he appeared before the Senator Sani Musa (APC, Niger East) led Senate Committee on Finance for 2024 budget defence, Kyari told the Senators that the company has never had a better situation than it does today, adding that metamorphosis from the former position to a limited liability company has boosted the company’s image.
The GCEO who noted that the company was at the moment getting the trust of everyone, including the financial institution globaly, which now are lending to it so that it can do business, stressed that the bold step taken by President Bola Tinubu also saved the company from liquidating.
Kyari said: “The company is a creation of the National Assembly. We are paying our taxes, we are paying royalties, we are delivering dividends to Nigerians, in this year alone up to October, we were able to deliver N4.5trillion of revenue to the federation. This company is changing, perhaps this is the most transparent National Oil Company in Africa.
“The reason is very simple because this is the requirement of the law, so the conviction of the company that to become transparent to the shareholders is the right thing to do.
“The end effect is that we are delivering value and also working and getting the support of all stakeholders, particularly the National Assembly to support all our processes around crude oil theft and other associated infractions and we are seeing results.
Explaining further, he said “More than anything else, the support for the company is coming from the executive, particularly the President to make sure that we deliver value to this country.
“We make sure that we engage and deliver gas to our domestic market, it is very critical to national development. Prosperity for this country will depend on our ability to deliver power and gas based industries to this country and we have seen the focus, we have seen the trajectory.
“This country is stabilising, the micro economic indices are changing and we have also seen stability in the foreign exchange in the market. People do see high value of the dollar but what is important is that within the next quarter, I believe very strongly that the gap between import window and that of the parallel market will close and that is the spark of prosperity in our country, we are on a threshold of history and this country will prosper.”
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