The Nigerian National Petroleum Company Limited (NNPCL) declared Wednesday that it remitted N4.5trillion generated revenue as at October this year into the Federation Account.
It also declared that prosperity beckons for the country as indices and parameters in that direction are already showing and being strategically leveraged on by NNPC Ltd and other key players in the oil sector.
Submissions to these effects were made by the Group Chief Executive Officer of the Company, Mele Kyari, during an interactive session with the Senate Committee on Finance.
Kyari in his presentation assured the committee members that better days are ahead for the company and by extension Nigeria as reform contained in the Petroleum Industry Act for the oil sector has made NNPC Ltd to be at par with its peers, across the globe.
He said: “The NNPC Limited that is a creation of the National Assembly, requires that we conduct business transparently and profitably 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 Naira 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 .
“But today, the reform has brought us to be at par with our peers, across the globe, and not to lose money.”
