…We Came And Released 2018 Financial Statement, Published The 2019 Audited Financial Report – Kyari

… NNPC Plans To Declare Dividends to Nigerians, Shareholders

The Nigerian National Petroleum Corporation (NNPC), Group Managing Director Mallam Mele Kyari held a media parley with energy journalists under the auspices of the National Association of Energy Correspondents (NAEC) on Friday in Abuja.

The NNPC GMD spoke on wide-ranging issues, developments within NNPC group and the larger Oil and Gas Industry.

Mele Kyari said “Our vision is that NNPC will become a company of excellence and declare dividends to Nigerians and shareholders. We are optimistic that at the end of 2020, NNPC should be able to declare dividends to Nigerians in spite of the impact of the COVID-19 pandemic.”

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“We went ahead and published the 2019 audited report, were able to learn and cut cost to became more efficient. There is no company in the country which has cut its losses within one financial year by N800billion. We have improved efficiency by cutting 97% in our losses. These are truly difficult times for our Industry but I am proud to say that we were able to maintain our obligations to the Federation Account for seven months without any fail despite the huge impact of the COVID-19 pandemic on the oil and gas industry.”

“I have been around in this company for 29 years and have worked closely with top management of the NNPC for about 15 years. This is the only President who has never asked NNPC to do something. Under no circumstances has President Muhammadu Buhari controlled what we want to do.”

“NNPC has never published its audited financial statement in 43 years. We came and started doing that also released the 2018 financial statement. We were not afraid of doing that, there were a lot of criticisms that we lost money in refinery operations & pipeline business” He concluded.


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