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NNPCL generates N4.5trn revenue in 10 months

by Victorious
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NNPCL generates N4.5trn revenue in 10 months

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Mr Mele Kyari says as of October 2023, the Company earned N4.5 trillion in revenue for the federation.

Kyari stated this at an interactive session with the Senate Committee on Finance on Wednesday in Abuja.

He assured that better days were ahead, as changes contained in the Petroleum Industry Act, PIA, had brought the corporation up to pace with its rivals worldwide.

“The NNPC Limited which is a creation of the National Assembly, requires that we conduct business transparently and profitably in line with provisions of the law.

“And to create value for shareholders, and not to lose money, and to continue to add value and pay dividends to shareholders, I’m glad to inform you Mr Chairman and Distinguished Senators, that as of October, we can deliver N4.5 trillion into the federation account as a company to this country in 2023.”

Kyari stated that the corporation, like most African National Oil Companies, has been increasing its business.

He indicated that the sector would see increased investment if the issues of broad margins in currency rates and import and export windows were resolved.

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