NNPC Remitted N10trn into Federation Account in 2024—Kyari

Speaking on Wednesday during a presentation on NNPC Limited’s 2024 revenue performance and 2025 projections to the National Assembly’s joint committee on Finance, Mr Kyari the NNPC was the highest taxpayer in the country in 2024 with the N10 trillion paid to the nation, claiming the state-oil company remains the only in Nigeria to publish 100 per cent of its account statements annually.

The NNPC boss also called for a forensic audit of the funds spent by the company on fuel price stabilization and ensuring uninterrupted petrol supply between January and September 2024.

“Until October 1, 2024, NNPCL, as mandated by the Petroleum Industry Act (PIA), acted as the supplier of last resort for fuel supply,” he boasted.

“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,” the NNPC chief added.

Regarding the company’s 2025 revenue projections, Mr Kyari indicated that a definitive figure would be provided after the upcoming board of directors meeting in two weeks, assuring the committee that the parameters for the 2025 budget were both realistic and achievable.

Recall that last year, the NNPC claimed that the 125,000 barrels per day Warri Refinery was operating at 60 per cent capacity and will focus on producing and storing critical products, including Straight Run Kerosene (SRK), Automotive Gas Oil (AGO), and heavy and light Naphtha. after the first 110 barrels per day refinery in Port Harcourt was operational.

The NNPC also noted that Kaduna Refinery and the 150,000 barrels per day second refinery in Port Harcourt will consolidate Nigeria’s position as a global energy provider.