By Aaron Ossai
Amidst allegation of monmental fraud that characterised operations of the Nigerian National Petroleum Corporation, NNPC, it’s present Group Managing Director, Mele Kyari has said that the Corporation’s statement of Accounts was not made public for 40 years.
Speaking at the Legislative Transparency and Accountability Summit in Abuja yesterday, Kyari said it was unfortunate that the Corporation’s statement of Accounts was shrouded is secrecy for that long.
He however said that hope of accountability in the Corporation was not lost as it has not only been publishing the Corporation’s statement of Accounts on monthly basis but that it is currently making steady profit.
According to the NNPC GMD, the Corporation recorded a loss of over N802 billion in 2018 which according to him came down to N1.3 billion in 2019.
He further disclosed that in 2020, the Corporation made a profit of over N207 billion which increased to N621 billion in 2021.
Speaking further, Mele Kyari said he is not boasting that the Nigerian National Petroleum Corporation, NNPC has achieved a lot under his supervision because according to him, an organization operating with the kind of capital base available to it should make higher profilt margine.
Declaring the Summit open, the Speaker of the House of Representatives, Hon. Femi Gbajabiamila said with the world matching towards a future where the economic value of oil and gas is dimimishing, advancement in technology will reduce the global demand for fossil fuels.
He therefore warned the oil and gas industry to brace for unique challenges here at home due to theft and various acts of economic sabotage.
The Summit was organised by the House of Representatives standing Committee on Anti Corruption at the Transcorp Hotel, Abuja.
