Alliance Says NNPC Has Been Transparent And Accountable On Its Operational Surplus

The Integrity Youth Alliance has condemned the statement credited to the Chairman, Senate Committee on Finance, Senator Solomon Adeola claiming that “NNPC, NPA, others failed to remit N2trn operational surplus.”

In a press release on Monday, May 10, 2021 in Abuja, signed the National Coordinator of the Alliance, Kelvin Adegbenga, he said for the purpose of clarification, the Alliance wish to remind the Senate that it was under the management of Mal Mele Kolo Kyari that NNPC published audited financial accounts after 44 years of establishing the Corporation.

“It is on record that on June 12, 2020, the Nigerian National Petroleum Corporation (NNPC) made history with the publication of its first audited financial statements after 44 years of its operation, the statement said.

The statement read, “The annual reports and financial statements for the year ended December 31, 2018, were for 20 of the state-owned national oil company’s subsidiary companies operating within and outside the country

“The companies covered in the reports published in corporation’s website last Friday included the Nigerian Petroleum Development Company (NPDC), Warri Refining & Petrochemical Company Limited (WRPC), Port Harcourt Refining Company Limited (PHRC), Kaduna Refining & Petrochemical Company (KRPC), and Integrated Data Services Limited (IDSL), Nigerian Products and Marketing Company Limited (NPMC), Nigerian Pipelines and Storage Company (NPSC).

“The others include the National Engineering & Technical Company Limited (NETCO), Nigerian Gas and Marketing Company Limited (NGMC), Duke Oil Services (UK) Limited, Duke Global Energy Investment Limited, Duke Oil Incorporated, NNPC Retail Limited, National Petroleum Investments Management Services (NAPIMS), The Wheel Insurance, NIDAS Shipping Services, NIDAS UK Agency, and NIDAS marine.

“We wish to call on the National Assembly to visit the website of the NNPC to verify the audited account and as part of its oversight function can visit the NNPC for proper briefing on the accounts of the Corporation.

“It may interest the National Assembly to know that the NNPC under the Management of Mal Mele Kolo Kyari has received commendation from credible organizations like Nigeria Extractive Industries Transparency Initiative (NEITI); Global Extractive Industries Transparency Initiative (EITI); Department of State of the US Government etc, the statement said.

It will be recalled that the Chairman, Senate Committee on Finance, Senator Solomon Adeola, when the Minister of Finance, Budget and Economic Planning, Mrs. Zainab Ahmed appeared before the panel at the weekend, said that the NNPC, NPA, NIMASA, are big spenders among the government agencies who didnt remit operational surplus.

On assumption of office two year, Mal Kyari pledged to open the NNPC financial books to the public as part of his management’s commitment to openness, transparency, and accountability in line with the global EITI principles.

“For the past two year, the NNPC has always published the monthly financial and operational reports, including its upstream, downstream and oil and gas export activities, the statement concluded.