Percy Onyeka
Group Managing Director, Nigeria National Petroleum Company Limited (NNPCL),Mr Mele Kolo Kyari on Wednesday disclosed that the new company has within the last few months generated and paid into the federation account the sum of N4.5trillion as revenue.
Kyari made this revelation while fielding questions from journalists after an interactive session with Senate committee on Finance.
According to him,”Our company is the creation of National Assembly, we are paying our taxes, we are paying our royalties and we are delivering dividends to Nigerians.
“This year alone up to October we were able to deliver N4.5 trillion of revenue to the federation account and this company is changing, perhaps this is the most transparent national oil company in Africa.”
Speaking further on the gains made by NNPCL between June this year to October following the removal of subsidy on petroleum product, the Group Managing Director explained thus,”The reason is simply because it is the requirement of the law and it is also the conviction of the company that to become transparent to your shareholders is the right thing to do.
The end effect is that we are delivering value and also working and getting the support of all stakeholders, particularly the national Assembly to supporting us in all processes surrounding crude oil theft and other associated infractions.
“We are seeing results but more than any other thing else, the support this company is getting from the Executive arm of government, particularly Mr President to making sure that we deliver value to the country. ”
Continuing he said, “We will make sure that we engage and we deliver gas into our domestic market. This is very critical to national development.
Prosperity to this country, will depend on our ability to deliver power, deliver Gas best industry to this country and we have seen the focus, we have seen the integratory and we are getting the trust of everyone including the financial institutions globally.
“They are lending to us so that we can do business together. We have never had better situation than we do have today. This country is stabilizing, the micro economic indices are changing and we are also seeing stability in the apex market.
“People do see the high value of the dollar but what is important is that within the next quota, I believe very strongly that the gap between the import, in the parallel market will close and that is the spark of prosperity in our country and we are on a threshold of history and this country will prosper.”
