ABUJA (Sundiata Post) – Human Rights Writers Association of Nigeria (HURIWA) has commended the Nigerian National Petroleum Company Limited (NNPCL) for its display of transparency and accountability in releasing its 2023 Audited Financial Statement (AFS).
HURIWA stated that the NNPCL’s declaration of a net profit of N3.3 trillion, alongside the announcement of a N2.1 trillion dividend, marks a significant milestone in the company’s history and represents a clear departure from the opacity and inefficiency that once characterized the former Nigerian National Petroleum Corporation (NNPC).
In a statement released on Sunday, HURIWA’s National Coordinator, Comrade Emmanuel Onwubiko lauded the management of NNPCL under the leadership of the Group Managing Director, Mele Kyari, noting that the company’s impressive financial performance and commitment to openness signal a new era in Nigeria’s petroleum industry.
According to Onwubiko, the reborn NNPCL has demonstrated a commitment to upholding the principles of good corporate governance, a stark contrast to the previous practices that plagued the then NNPC.
He emphasized that NNPCL’s release of its audited financials, which showed a 28% increase in profit from the previous year, is a testament to the company’s resolve to operate with integrity and transparency.
“This is a remarkable achievement that reflects the positive changes implemented since NNPC transitioned to NNPCL. The company’s ability to post such impressive returns amidst the challenges in the operational and economic environment is commendable,” he stated.
He pointed out that the NNPCL’s progress in financial transparency is directly linked to the leadership of Mele Kyari, who assumed the role of Group Managing Director in 2019.
According to him, Kyari’s tenure has been marked by a series of transformative reforms aimed at improving the efficiency and profitability of NNPCL.
“Since taking office, Mele Kyari has demonstrated an unwavering commitment to repositioning NNPCL as a transparent and accountable entity.
“His leadership has ushered in a new era of corporate responsibility, which has now culminated in the remarkable financial performance recorded in 2023,” he noted.
In addition, he praised the NNPCL Board for its role in driving the company’s success, stressing that the approval of a final dividend of N2.1 trillion by the company’s shareholders, as announced by NNPCL Board Chairman, Chief Pius Akinyelure, was a reflection of the confidence reposed in the company’s management.
“The decision to declare such a substantial dividend underscores the commitment of the NNPCL Board and Management to delivering value to shareholders and contributing to Nigeria’s economic growth,” he added.
