According to Mr. Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), the company brought in N4.5 trillion for the nation as of October 2023.
Kyari made this claim on Wednesday in Abuja during a conversation with the Senate Committee on Finance.
He gave his word that things would get better since the company was now competitive with its rivals throughout the globe thanks to amendments made to the Petroleum Industry Act (PIA).
The National Assembly established the NNPC Limited, which mandates that we operate our company economically and honestly while adhering to legal requirements.
“And to generate value for our investors, avoid financial loss, and keep adding value and giving dividends to our shareholders, I’m happy to tell you, Mr. Chairman and Distinguished Senators, that as of October, we can contribute N4.5 trillion to this country’s federation account as a company in 2023.”
Kyari said that the company has been growing its business, much like the majority of African National Oil Companies.
He said that if the problems with wide differences in exchange rates and import and export windows were fixed, there would be more investment in the industry.