Kyari: NNPC Ltd remitted N10trn to the federation account in 2024 - Thepodiummedia

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Post published:January 16, 2025
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The Nigerian National Petroleum Company Limited (NNPC Ltd) has disclosed that it remitted N10 trillion to the federation account in 2024.

The NNPC Ltd Group Chief Executive Officer, Mele Kyari, disclosed this during a presentation on the company’s 2024 revenue performance and 2025 projections to the National Assembly’s joint committee on finance in Abuja on Wednesday, January 15, 2025.

Kyari also called for a forensic audit of the funds spent by the NNPC Ltd on fuel price stabilisation and ensuring uninterrupted petrol supply between January and September 2024.

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The NNPCL boss said: “Until October 1, 2024, NNPCL, as mandated by the Petroleum Industry Act (PIA), acted as the supplier of last resort for fuel supply.

“A forensic audit is needed to determine the financial obligations of NNPCL and any owed entities. Our transactional accounts are transparent and published annually, reinforcing our status as the top taxpayer and the highest contributor of royalties and dividends.”

Speaking on NNPC Ltd’s 2025 revenue projections, Kyari stated that a definitive figure would be provided after the upcoming board of directors’ meeting in two weeks.

Kyari also assured the committee that the parameters for the 2025 budget were both realistic and achievable.

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The British Council appointed him as Head of Communication and Marketing to co-ordinate branding and reputation management activities at its Lagos, Abuja, Kano and Port Harcourt offices.

In 2007, he was recruited as the Head of Corporate Planning and Strategy for the Nigerian Aviation Handling company. He led on the branding, strategic planning and stakeholder management support function.

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