NNPC Limited generates ₦4.5 trillion revenue in 2023 – CEO Mele Kyari

This announcement was made during an interactive session with the Senate Committee on Finance in Abuja on Wednesday, December 13, 2023.

Kyari noted the positive impact of the recent changes implemented under the Petroleum Industry Act (PIA), asserting that these modifications have positioned the NNPC Limited on par with global counterparts.

Speaking to the committee, he highlighted the necessity for transparent and profitable business practices in accordance with the provisions of the law, as the NNPC Limited operates to create value for shareholders and sustain profitability.

"In adherence to the directives from the National Assembly, the NNPC Limited is committed to conducting business transparently and profitably. Our goal is not only to avoid financial losses but also to consistently add value and pay dividends to our shareholders.

"I am pleased to inform you, Chairman and Distinguished Senators, that as of October 2023, we are set to deliver ₦4.5 trillion into the federation account, contributing significantly to the economic growth of our nation," Kyari affirmed.

Highlighting the corporation's expansion efforts, Kyari drew attention to the growth witnessed by the NNPC Limited, aligning it with the trajectory of other African National Oil Companies.

He stressed that resolving issues related to broad margins in currency rates and addressing challenges in import and export windows would further enhance the sector's attractiveness to investors.

The NNPC CEO expressed optimism about the future, asserting that the corporation is poised for even better days ahead.