The national assembly also increased the NPA’s target to N1.75 trillion, citing untapped opportunities across its 56 revenue streams.
The Nigerian National Petroleum Company Limited (NNPCL) has declared itself the only company in Nigeria that publishes 100 percent of its account statements annually.
The Group CEO, Mele Kyari, who revealed this on Wednesday while presenting the company’s budget defence at the national assembly, stressed that they remitted N10 trillion to the federation account by September 2024.
“Until 1st October 2024, NNPCL as mandated by the Petroleum Industry Act (PIA), acted as the supply of last resort on fuel supply which requires forensic audit to know how much NNPCL is being owed or owing any agency.
“Our transactional account is very transparent which is published on yearly basis making NNPCL, the only company in Nigeria noted for that and also the highest tax payer in the country as well as highest payer of royalty and dividends to share holders as a commercial national oil companies,” he said
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While emphasising NNPCL’s fiscal credentials, Kyari called for a forensic audit of funds spent on fuel price stabilisation from January to September 2024.
In a separate presentation to the National Assembly’s joint committee on finance, the Managing Director of the Nigeria Ports Authority (NPA), Dr. Abubakar Dantsoho, announced a 2024 revenue contribution of N753 billion and an initial 2025 projection of N997 billion. However, the committee, led by Sen. Sani Musa and Rep. James Faleke, increased the NPA’s target to N1.75 trillion, citing untapped opportunities across its 56 revenue streams.
