The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, disclosed to the Senate Committee on Finance in Abuja that the company achieved a revenue of N4.5 trillion for the federation as of October 2023.
Speaking during an interactive session, Kyari expressed optimism about the future, citing positive changes introduced by the Petroleum Industry Act (PIA) that align the corporation with global industry standards.
Kyari emphasized the NNPC Limited’s commitment to conducting business transparently and profitably in accordance with the law. He highlighted the goal of creating value for shareholders and assured that the corporation is on track to deliver significant contributions to the federation account.
Notably, Kyari pointed out that, similar to other African National Oil Companies, the NNPC has been expanding its business operations. He underscored the potential for increased investment in the sector if challenges related to broad margins in currency rates and import-export windows are addressed.
