Kyari Says NNPCL Remitted N10 trillion In 2024
The Nigerian National Petroleum Company Limited, NNPCL, has said that it remitted N10 trillion to the Federation Account in 2024.
The Nigerian National Petroleum Company Limited, NNPCL, has said that it remitted N10 trillion to the Federation Account in 2024.
The contribution made NNPCL the highest taxpayer in the country even as it remains the only company in the country that publishes 100% of its account statements annually.
The Group Chief Executive Officer, GCEO, of the company, Malam Mele Kyari, spoke on Wednesday during a presentation on NNPCL’s 2024 revenue performance and 2025 projections to the National Assembly’s joint committee on Finance.
Kyari further for what he described as a forensic audit of the funds spent by NNPCL on fuel price stabilization and ensuring uninterrupted petrol supply between January and September 2024.
His words, "Until October 1, 2024, NNPCL, as mandated by the Petroleum Industry Act, PIA, acted as the supplier of last resort for fuel supply.
“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.”
Commenting on the company’s 2025 revenue projections, Kyari indicated that a definitive figure would be provided after the upcoming board of directors meeting in the next two weeks, assuring the committee that the parameters for the 2025 budget were both realistic and achievable.
Meanwhile, the National Assembly raised the 2025 projected revenue for the Nigerian Ports Authority, NPA, to N1.75 trillion, underscoring the need for increased revenue generation across key government agencies. (Channels TV)
The Group Chief Executive Officer, GCEO, of the company, Malam Mele Kyari, spoke on Wednesday during a presentation on NNPCL’s 2024 revenue performance and 2025 projections to the National Assembly’s joint committee on Finance.
Kyari further for what he described as a forensic audit of the funds spent by NNPCL on fuel price stabilization and ensuring uninterrupted petrol supply between January and September 2024.
His words, "Until October 1, 2024, NNPCL, as mandated by the Petroleum Industry Act, PIA, acted as the supplier of last resort for fuel supply.
“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.”
Commenting on the company’s 2025 revenue projections, Kyari indicated that a definitive figure would be provided after the upcoming board of directors meeting in the next two weeks, assuring the committee that the parameters for the 2025 budget were both realistic and achievable.
Meanwhile, the National Assembly raised the 2025 projected revenue for the Nigerian Ports Authority, NPA, to N1.75 trillion, underscoring the need for increased revenue generation across key government agencies. (Channels TV)
What's Your Reaction?
