Business and Economy
NNPCL says it remits N10trillion into Federation Account in Sept 2024 ..As NASS jerks up NPA 2025 projected revenue to N1.75trillion
The Nigerian National Petroleum Company Limited ( NNPCL), is the only company in Nigeria that publishes 100% of its account on a yearly basis ,said the Group Chief Executive Officer ( GCEO) of the oil firm , Malam Mele Kyari .
Kyari who stated this on Wednesday during presentation of revenue generation performance of NNPCL in 2024 and projection for 2025 to the National Assembly joint committee on Finance , said the company remitted N10trillion to the federation account as at September, 2024.
He added that NNPCL is the highest tax payer in the country , highest payer of royalty and dividends .
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 , will 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 Mabaging 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 .