Much Will Change In The NNPC; Group Tells Dataphyte

The Integrity Youth Alliance has assured a data firm, Dataphyte, that the Nigeria National Petroleum Company Limited, under the management of Mal Mele Kyari, will address all issues raised by the firm to ensure the successful operations of the company as a private business entity in the short and long term.

Reacting to the fear of Dataphyte that much may not change with the NNPC, the Board Chairman of the Alliance, Adewole Kehinde said that since Mal Mele Kyari assumed office, he had taken calculated steps to ensure more openness in the activities of the company and the Transparency, Accountability, and Performance Excellence (TAPE) agenda introduced has brought about greater transparency and accountability in NNPC’s management of Nigerian oil and gas revenues to date.

“So far, some of the successes recorded under the TAPE agenda include the publication of 2018, 2019, and 2020 NNPC Audited Financial Statements (AFS) and the company will continue to implement best practices in its financial management and governance structure.

The six problems identified by the Dataphyte research team that the NNPC needs to address as it changed its status to a limited company include the problem of diminished revenue, the problems with costs, credit sales and purchases, financial management, and the problem with the NNPC’s incapacity as a growing concern, the Grouped said that all the identified problem is already been addressed by the NNPC Limited Management under Mal Mele Kyari.

The Group welcomes the timely and insightful intervention from Dataphyte to nudge the NNPC and other stakeholders towards efficient management of Nigeria’s energy interests.