Mele Kyari
Oil & Gas

NNPC boss vows more transparency

442
  • Says all crude oil contract, audited accounts will be published

 

 

The Group Managing Director, Nigeria National Petroleum Corporation (NNPC), Mele Kyari, has promised to open up the books of the corporation for all stakeholders, as the oil and gas world is set to see a more transparent NNPC in the days ahead.
Kyari, who was appointed GMD on July 8, 2019, disclosed this at the Corporation’s headquarters when officials of the Nigerian Extractive Industries Transparency Initiative (NEITI), paid him a courtesy visit on Tuesday.
Kyari further revealed that the NNPC under him would publish its audited accounts next week, and would henceforth publish all crude oil term contract holders and the Direct Sales and Direct Purchase (DSDP).
Kyari said: “NNPC and NEITI share a lot in common and NNPC will gain more by disclosing its activities to its shareholders.
“This is particularly compelling considering that NNPC is seen by the global community as Nigeria’s window to the world.
“NNPC will publish its audited accounts next week, and it will publish all crude oil term contracts holders and Direct Sales and Direct Purchase.”
The GMD further disclosed that the NNPC would in future publish all monthly reports in soft copies, adding that its report from January-June 2019 was already on the Corporation’s website.
Speaking earlier, the Executive Secretary of NEITI, Waziri Adio, who led the delegation, described the NNPC GMD as “a transparency champion” and “a key member of global transparency community.”
Adio further stated that NEITI was excited by Kyari’s appointment as GMD and expressed desire to partner with NNPC, in order to improve transparency and accountability in Nigeria’s oil and gas sector.
NEITI also requested among others, that the NNPC should use its website to publicize NEITI activities and advocacy; improve on its commendable monthly operations and financial records and help in the disclosure of contracts and beneficial ownership.
NEITI, the Nigerian chapter of the extractive industry global watchdog, was one of several organizations who had described Kyari’s appointment as worthy.

Leave a comment

Related Articles

Crude oil thieves now use SUVs to beat security operatives – Rivers NSCDC

A new method of stealing crude oil and transporting illegally refined petroleum...

Breaking: NNPC Ltd. achieves milestone oil production of 1.8 mbpd

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced a significant...

NNPC Ltd. appoints two Executive Vice Presidents, Chief Financial Officer

The Board of Directors of the Nigeria National Petroleum Company Limited (NNPC...

NNPC Ltd. Unveils Plan to Resolve Nigeria’s Energy Trilemma

Nigerian National Petroleum Company Limited (NNPC Ltd) Group CEO, Mr. Mele Kyari,...

Breaking: IPMAN Secures Direct Supply Deal with Dangote Refinery, Promises Steady, Affordable Fuel Nationwide

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a landmark...

Port Harcourt helicopter crash: 16 days after, NSIB recovers Black Box

Sixteen days after the Port Harcourt chopper crash, the Nigerian Safety Investigation...

NNPC Ltd. disclaims video of adulterated fuel sold in bottles, jerrycans

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has issued a strong...

Protest: Kyari not responsible for fuel price hike – NNPC Ltd

The Nigerian National Petroleum Company Limited (NNPCL) has come out strongly in...

NNPC Ltd. Advocates Collaboration, Transparency in Global Energy Decarbonization

The Nigerian National Petroleum Company Limited (NNPC Ltd) has called for increased...

$26bln African Atlantic Gas Pipeline Project Gains Momentum

The federal government, in collaboration with the Economic Community of West African...

ECOWAS, Nigeria, Morocco, Mauritania Commit to $26bln African Atlantic Gas Pipeline Project

“The project, conceived in 2016 during King Mohammed VI of Morocco’s visit...

Troops crack down on oil thieves in Niger Delta

The Nigerian Army’s 6 Division, in collaboration with other security agencies, has...

Adokiye Tombomieye, ex-NNPC Ltd. VP Upstream, canvasses skills transfer, knowledge sharing among young engineers under mentorship

A former Executive Vice President, Upstream, Nigerian National Petroleum Company Ltd. (NNPC...

NUPRC Approves Seplat-ExxonMobil Divestment, Launches “Operation 1 Million”

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has given the green light...

NNPC Retail Sensitizes Auto Mechanics on CNG Adoption, Unveils Oleum Lubricant Range

NNPC Retail Limited, a subsidiary of NNPC Ltd, has taken a significant...

NNPC Ltd. reiterates commitment to peace, prosperity in Niger Delta

The Nigerian National Petroleum Company Limited (NNPC Ltd) has reaffirmed its dedication...

I didn’t ask NNPC Ltd to give up running own refineries – Oil Minister of State, Lokpobiri

Contrary to reports making the rounds, the Minister of State for Petroleum...

Nigeria faces potential gas supply crisis by 2030, says NUPRC Chief

Nigeria may experience a significant gas supply crisis by 2030, with a...

Oil prices surge by $1 amid Middle East tensions

Oil prices jumped by over a dollar in early trading on Wednesday,...

Whopping N5.4trn to be saved from petrol subsidy removal in 2024, says Gov. Abiodun

Ogun Gov. Dapo Abiodun has disclosed that the subsidy on fuel, if...