The Nigerian Nationwide Petroleum Firm Restricted (NNPCL) has declared itself as the one firm in Nigeria that publishes 100% of its monetary accounts yearly.
The Group Chief Government Officer, Malam Mele Kyari, made this assertion on Wednesday whereas presenting the corporate’s 2024 income efficiency and 2025 projections earlier than the Nationwide Meeting Joint Committee on Finance.
Kyari revealed that the NNPCL remitted a report N10 trillion to the Federation Account as of September 2024, additional emphasizing its function because the nation’s largest taxpayer, royalty payer, and dividend contributor.
“Our transactional accounts are utterly clear, printed yearly, and we stay the very best tax contributor to the Federation Account. NNPCL is dedicated to sustaining this place as a number one industrial nationwide oil firm,” Kyari acknowledged.
He known as for a forensic audit of the funds spent by NNPCL on petrol value stabilization and guaranteeing uninterrupted gas provide from January to September 2024.
“Till October 1, 2024, underneath the Petroleum Business Act (PIA), NNPCL acted because the provider of final resort for gas provide. A forensic audit will make clear any quantities owed or due,” Kyari defined.
Kyari disclosed that NNPCL’s 2025 income projections could be finalized after its board of administrators meets in two weeks.
“The parameters for the 2025 funds are reasonable and achievable,” he assured the committee.In a separate presentation, the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, introduced that the company had remitted N753 billion to the Consolidated Income Fund (CRF) in 2024 and projected N997 billion for 2025.
Nonetheless, the Joint Committee on Finance, chaired by Senator Sani Musa and Hon. James Faleke, elevated NPA’s 2025 income projection to N1.75 trillion. The adjustment, the committee defined, was primarily based on the maximization of NPA’s 56 income streams.
The session underscored the rising scrutiny of Nigeria’s key revenue-generating companies as the federal government seeks to maximise revenue amidst financial challenges.
