NNPC Remits ₦10trn, Tops Taxpayer Rankings in Nigeria – Kyari

Mele Kyari, the Group Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, announced on Wednesday that the state-owned oil company has contributed ₦10 trillion to the federation account.

He highlighted that this achievement makes NNPC the highest taxpayer in Nigeria and the only company in the country that consistently publishes 100% of its financial statements annually.

Kyari revealed these details during a presentation on NNPC’s 2024 revenue performance and projections for 2025 to the National Assembly’s Joint Committee on Finance.

He also called for a forensic audit of funds spent by NNPC on stabilising fuel prices and maintaining a steady petrol supply from January to September 2024.

“Until October 1, 2024, NNPCL, as mandated by the Petroleum Industry Act (PIA), acted as the supplier of last resort for fuel supply,” he said.

“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.”

On the company’s revenue projections for 2025, Kyari stated that precise figures would be available following the next board of directors meeting in two weeks.

He assured the committee that the parameters for the 2025 budget were both practical and achievable.