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| Mele Kyari |
The Nigerian National Petroleum Company Limited (NNPCL) has remitted ₦10 trillion to the federation account in 2024, solidifying its position as Nigeria’s highest taxpayer. It also remains the only company in the country to publish 100% of its account statements annually.
This disclosure was made by the Group Chief Executive Officer, Malam Mele Kyari, on Wednesday, January 15, 2025, during a presentation on NNPCL’s 2024 revenue performance and 2025 projections to the National Assembly’s joint committee on Finance.
Kyari further urged a forensic audit of funds used by NNPCL for fuel price stabilization and ensuring uninterrupted 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.”
Regarding the company’s 2025 revenue projections, Kyari, in a Channels Television report, indicated that a definitive figure would be provided after the upcoming board of directors meeting in two weeks. He assured the committee that the parameters for the 2025 budget were both realistic and achievable.
The National Assembly, in a related development, raised the 2025 projected revenue for the Nigerian Ports Authority (NPA) to ₦1.75 trillion, underscoring the need for increased revenue generation across key government agencies.
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