The Nigerian National Petroleum Company Limited (NNPCL) has contributed ₦10 trillion to the federation account, making it the largest taxpayer in the country and remains the sole company in Nigeria that discloses 100% of its account statements every year.
This information was shared by the Group Chief Executive Officer (GCEO), Malam Mele Kyari, during a presentation about NNPCL’s revenue performance for 2024 and projections for 2025 to the National Assembly’s joint committee on Finance.
Kyari also advocated for a forensic audit to assess the expenditures made by NNPCL for fuel price stabilisation and ensuring a continuous supply of petrol from January to September 2024.
“Until October 1, 2024, NNPCL, as required by the Petroleum Industry Act (PIA), served as the last resort supplier for fuel,” he said.
“A forensic audit is essential to ascertain NNPCL’s financial obligations and any outstanding debts to other entities. Our transactional accounts are open and published annually, further cementing our position as the leading taxpayer and the highest contributor of royalties and dividends.”
Concerning the company’s revenue expectations for 2025, Kyari pointed out a precise figure would be available following the forthcoming Board of Directors meeting in two weeks.
