NNPC Limited remits N4.5tr revenue to the federation from January to October -Mele Kiyari

***Says it is now getting the trust of global financial institutions with credit facilities

The successful transition of the Nigerian National Petroleum Corporation to a commercially driven National Energy Company, the NNPC Limited has repositioned the company to the extent of delivering N4.5tr in 10 months, the Group managing Director Mallam Mele Kiyari has has indicated

Speaking on wednesday when he appeared before the Senate committee on Finace for 2024 budget defence said the company has never had a better situation than it does today as the transition has boosted the company’s image that it is currently getting the trust of everyone including the financial institution globaly, who now are lending to it so that it can do business.

According to him, the bold step taken by President Bola Tinubu also saved the company from liquidating, “The company is a creation of the national assembly. We are paying our taxes, we are paying royalties we are deliverying dividends to Nigerians, in this year alone up to October we were able to deliver N4.5tr of revenue to the federation, this company is changing, perharps this is the most transparent National Oil Company in Africa.
“The reason is very simple because this is the requirement of the law so the conviction of the company that to become transparent to the 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 support all our processes around crude oil theft and other associated infractions and we are seeing results.
Explaining further, he said more than anything else the support for this company is coming from the executive, particularly the President to making sure that we deliver value to this country.
“We make sure that we engage and deliver gas into our domestic market, it is very critical to national development. Prosperity for this country will depend on our ability to deliver power, deliver gas based industries into this country and we have seen the focus, we have seen the trajectory,
“This country is stabilizing, the micro economic indices are changing and we have also seen stability in the Foreign Exchange in the market, people do see high value of the dollar but what is important is that within the next quarter, I believe very strongly that the gap between import window and that of the parallel market will close and that is the spark of prosperity in our country, we are on a threshold of history and this country will prosper.