The Editorial Board and Management of Swift Reporters has felicitated with the 19th Group Managing Director of the Nigerian National Petroleum Corporation (NNPC),Mallam Mele Kyari on his second year in office.
In a statement on Thursday, 8th July, 2021 signed by the Publisher of Swift Reporters, Adewole Kehinde, he commended Mallam Mele Kyari for his Transparency and Accountability.
It will be recalled that Mallam Mele Kyari on resumption of office emphasized that transparency and accountability would be the cardinal pillars of his management.
“He promptly followed up his inaugural pronouncement with the launch of his management’s strategic objectives two weeks later which he christened as Transparency, Accountability and Performance Excellence (TAPE).Â
Since then, he has walked the transparency and accountability talk by opening up the books of the Corporation the way no other management before his has done.
“We wish to applaud the key accomplishments regarding his transparency and accountability which include; The publication of the 2018 and 2019 Audited Financial Statements of the Corporation and its 19 subsidiaries registered under the Companies and Allied Matters Act (CAMA) 1990 as amended alongside that of the National Petroleum Investment and Management Services (NAPIMS) to provide clarity on Joint Venture finances. The AFS were published in the Corporation’s website for all interested parties to access and scrutinize. This is the first time the Corporation’s AFS were made public in such a manner; A major revelation in the Audited Financial Statements of the two years so far published is the 99.7% reduction of the Corporation’s loss profile from ₦803bn in 2018 to ₦1.7bn in 2019. Following this trajectory, the Corporation is likely to declare profit in the 2020 AFS which is billed to be released soon.
“It is on record that the Mallam Kyari-led management also sustained the Publication of the Corporation’s Monthly Financial & Operations Reports (MFOR) in line with the TAPE vision. NNPC remains the only national oil company that publishes its financial and operations reports monthly globally.
“The GMD also led the Corporation to enlist with the Global Extractive Industry Transparency Initiative as an EITI Supporting Company which mandates places NNPC in the group of over 65 extractive companies, state owned enterprises that commit to observing transparency and accountability standards defined by EITI.
Another key achievement of the NNPC under the leadership of Mallam Kyari on the transparency terrain is the successful completion of a controversy-free recruitment exercise for 1,000 young graduate trainees to rejuvenate the Corporation’s talent mix.
“With the above achievements within the shortest possible time, Mallam Mele Kyari remained the most Transparent, Accountable and Efficient Group Managing Director of the NNPC since its establishment 44 years ago, the statement concluded.
