*Mele Kyari, Group Managing Director and CEO of the Nigerian National Petroleum Company (NNPC) Limited, tells the House of Representatives Committee on Public Accounts that the company has 鈥榥othing to hide鈥� as the leadership pledges to continue to be accountable and transparent to over 200million Nigerians as shareholders

Isola Moses | 绿帽献妻

As regards transparency and accountability in its operations, the Nigerian National Petroleum Company (NNPC) Limited has said that the national oil firm has nothing to hide, and will comply with the request of the House of Representatives Committee on Public Accounts.

绿帽献妻 gathered Malam Mele Kyari, Group Managing Director and Chief Executive Officer (GMD/CEO) of NNPC, stated this in respect of the House of Representatives Committee on Public Accounts鈥� request to the company seeking the appearance of Heads of NNPC subsidiaries before the Committee, in Abuja, FCT.

Earlier, Hon. Oluwole Oke, Chairman of the House Committee, March 16, 2022, reportedly summoned the 17 subsidiaries of the NNPC to respond to audit queries by the Auditor-General for the Federation over the operations of their finances between 2014 and 2019.

Subsequently, Malam Kyari in a letter to Hon. Oke during the last sitting recently informed that he was engaged in a function on the theft of crude oil in the Niger Delta, hence his unavailability in the National Assembly (NASS).

IT was learnt that the House Committee agreed to the GMD/CEO鈥檚 request for an extension, fixing March 29 when it hoped Kyari would appear in person with relevant documents.

Kyari during his appearance Tuesday stressed the NNPC had nothing to hide as the company鈥檚 operations are being run in a transparent manner.

According to him, no national oil company in the world is as transparent as the NNPC, stating that oil company will continue to comply with the House Committee鈥檚 requirement.

Kyari also said: 鈥淲e have nothing to hide, Mr. Chairman. We recognise that this Company belongs to the over 200 million Nigerians as its shareholders, thus we have been accountable and transparent and we will continue to remain so.

鈥淣o national oil company in the world is as transparent as we are. We shall comply with the House Committee鈥檚 requirement.鈥�

Kyari鈥檚 track record of accountability

Report indicates since Malam Kyari鈥檚 appointment as the 19th Group Managing Director of the NNPC July 2019, he has successfully secured Federation entitlements from production/fiscal arrangements and resolution of various disputes on Petroluem Sharing Contracts.

The GMD/CEO has also been able to champion the Transparency, Accountability and Performance Excellence under his TAPE Agenda, with the successful management of Direct Sales and Direct Purchase arrangement of petroleum products to ensure energy security.

The guiding principle of Kyari in managing the national oil company has been the TAPE Agenda, and this has been instrumental in the publication of the 2018, 2019 and 2020 financial statements of the Company to the public to show transparency, report stated.

Kyari has also been responsible for turning around the fortunes of the NNPC from 37 years of losses into making its first profit in the 2020 financial period.

Under Kyari鈥檚 watch at the NNPC, the company declared a Profit After Tax of N287bn in 2020 after losses were reduced from N803bn in 2018 to N1.7billion in 2019. This is unprecedented in the history of the NNPC.

In the last two years, Kyari has spearheaded the automation of the NNPC鈥檚 processes and systems; reduced its costs of operations and reposition the Company to the path where it will deliver value to Nigerians, in line with his management vision.

Kindly Share This Story