The Nigerian National Petroleum Company Limited (NNPCL) says it remitted N10 trillion to the federation account in 2024., making it the highest taxpayer in the country.
This was disclosed by the Group Chief Executive Officer of NNPCL, Malam Mele Kyari, during a presentation on the company’s 2024 revenue performance and 2025 projections to the National Assembly’s joint committee on Finance on Wednesday.
Kyari emphasized that NNPCL remains the only company in Nigeria that publishes 100% of its account statements annually, a practice that underscores its commitment to transparency.
He further highlighted the company’s pivotal role in stabilizing the nation’s fuel supply before the full implementation of the Petroleum Industry Act (PIA) on October 1, 2024.
“Until October 1, 2024, NNPCL, as mandated by the PIA, acted as the supplier of last resort for fuel supply.
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,” Kyari stated.
The NNPCL boss also hinted at a forthcoming board meeting in two weeks, after which the company would provide definitive figures for its 2025 revenue projections.
He assured lawmakers that the company’s budgetary parameters for the year were both realistic and achievable.
In a related development, the National Assembly revised the projected revenue for the Nigerian Ports Authority (NPA) in 2025, raising it to N1.75 trillion.
This move underscores the federal government’s push for increased revenue generation across key agencies.
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