The Nigerian National Petroleum Company Limited (NNPCL) has disclosed that it remitted N10 trillion to the federation account in 2024.
The NNPCL Group Chief Executive Officer, Mele Kyari, disclosed this during a presentation on the company’s 2024 revenue performance and 2025 projections to the National Assembly’s joint committee on finance in Abuja on Wednesday, January 15, 2025.
Kyari also called for a forensic audit of the funds spent by the NNPCL on fuel price stabilisation and ensuring uninterrupted petrol supply between January and September 2024.
The NNPCL boss said: “Until October 1, 2024, NNPCL, as mandated by the Petroleum Industry Act (PIA), acted as the supplier of last resort for fuel supply.
Nigeria’s inflation rate rises to 34.8%
“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.”
Speaking on NNPCL’s 2025 revenue projections, Kyari stated that a definitive figure would be provided after the upcoming board of directors meeting in two weeks.
Kyari also assured the committee that the parameters for the 2025 budget were both realistic and achievable.
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