Thursday, June 20, 2024

NNPCL Generates N4.5trn Revenue in 10 Months

The Nigerian National Petroleum Company Limited (NNPCL) has generated N4.5 trillion as revenue for the federation for 2023 as at October, its Group Chief Executive Officer, Mele Kyari has said.

Kyari, said this in Abuja on Wednesday at an interactive session with the Senate Committee on Finance.

The NNPCL Boss further assured that better days were ahead, as reforms contained in the Petroleum Industry Act (PIA) for the oil sector, had placed the company at par with its peers, across the globe.

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“The NNPC Limited that is a creation of the National Assembly, requires that we conduct business transparently and provitably in line with provisions of the law.

“And to create value for shareholders, and not to lose money, and also to continue to add value and pay dividends to shareholders.

“I’m glad to inform you Mr Chairman and Distinguished Senators, that as at October, we are able to deliver N4.5 trillion into the federation account as a company to this country in 2023.

“Every national oil company has a trading company. We have always had one which . never worked prior to PIA Implementation.

“Currently, NNPC Ltd is delivering on its mandate through the PIA reforms that has brought us to be at par with our peers, across the globe, and not to lose money anymore,” he said.

Kyari said the company had been expanding in business like most National Oil Companies in Africa.

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