Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Malam Mele Kyari said on Wednesday in Abuja that the company remitted N10trillion to the federation account as at September 2024.
This was even as he declared that the NNPCL remains the only company in Nigeria that publishes 100% of its account on a yearly basis.
Kyari who spoke during presentation of revenue generation performance of NNPCL in 2024 and projection for 2025 to the National Assembly joint Committee on Finance, added that the company is the highest tax payer, highest payer of royalty and dividends in the country.
He, however, said that the company want forensic audit to be conducted on money spent by it for stabilization of price of Petrol from January to September 2024 and uninterrupted supply of the product.
“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.
The NNNPL Group Chief Executive, however, told the joint committee that revenue projection for 2025, would be made after the meeting of board of directors of the company in two weeks time.
He said the parameters for the 2025 budget are realistic and realisable.
In his own encounter with the joint Committee on Finance the Managing Director of Nigeria Port Authority, NPA, Dr Abubakar Dantsoho said NPA remitted N753billion into consolidated revenue fund and projected N997billion for 2025 fiscal year .
The committee chaired by Senator Sani Musa and Hon. James Faleke, however , jerked up the projected revenue for 2025 from N997billion to N1.75trillion.
The increased revenue projection according to the joint committee chairmen, was done for maximization of the 56 revenue sources NPA has.
