Group Managing Director, Nigeria National Petroleum Company Limited (NNPCL), Mr Mele Kyari disclosed that the new company has within the last few months generated and paid into the federation account the sum of N4.5trillion as revenue.
Mr. Kyari made this revelation while speaking to journalists after an interactive session with Senate committee on Finance.
He said NNPCL is a creation of the National Assembly that is paying taxes, royalties and as well delivering dividends to Nigerians.
“Our company is the creation of National Assembly, we are paying our taxes, we are paying our royalties and we are delivering dividends to Nigerians. This year alone up to October we were able to deliver up to N4.5 trillion of revenue to the federation account and this company is changing, perhaps this is the most transparent national oil company in Africa. Mr. Kyari said.
Speaking further on the gains made by NNPCL between June this year to October following the removal of subsidy on petroleum product, the Group Managing Director explained thus,“The reason is very simply because it is the requirement of the law and it is also the conviction of the company to become transparent to your 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 supporting us in all processes around crude oil theft and other associated infractions.
“We are seeing results but more than any other thing else, the support this company is getting from the Executive arm of government, particularly Mr President to making sure that we deliver value to the country” he said.
No panic
Mr. Kyari also said that Nigerians should not panic as the NNPCL is fully ready to deliver gas into domestic market at any time any day.
“We will make sure that we engage and we deliver gas into our domestic market. This is very critical to national development. Prosperity of this country, will depend on our ability to deliver power, deliver Gas best industry to this country and we have seen the focus, we have seen the intergetary and we are getting the trust of everyone including the financial institutions globally. They are lending to us so that we can do business together. We have never had better situation than we do have today.
This country is stabilizing, the mico economic indices are changing and we are also seeing stability in the afex market. People do see the high value of the dollar but what is important is that within the next quota, I believe very strongly that the gap between the import, in the parallel market will close and that is the spark of prosperity in our country and we are on a threshold of history and this country will prosper” Mr. Kyari concluded.
Olusola Akintonde
Comments are closed.