NNPC Published Audited Financial Statement for Transparency – Senator


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Sen. Bassey Akpan, Chairman, Senate Committee on Petroleum Upstream, says the published Audited Financial Statement of the Nigerian National Petroleum Corporation (NNPC) is an indication of its readiness to ensure transparency in its operations.

Akpan made this known while briefing newsmen in Abuja on Tuesday.

“The recently published audited financial statement of the NNPC also goes a long way to underscore the readiness of the new management under the GMD, Malam Mele Kyari, toward pursuing transparency, good governance and also accountability in the industry.

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“Nobody used to know what happens in the NNPC, but I think we are beginning to see results, and we can actually attest to the fact that this is in line with the new spirit.

“I must commend President Muhmadu Buhari for the trust and confidence he had in the new team. I must also inform Mr President that the National Assembly, under the leadership of Sen. Ahmed Lawan, would also partner with the executive.

“This partnership is without compromising our oversight authority, as enshrined in the constitution, to ensure that we deliver quality and value to the Nigerian people, who actually own the corporation,” Akpan said.

He commended the passion and patriotism of Kyari and his team in running the corporation and the sector at large.

“Quite profoundly, you are aware that the story of the Petroleum Industry Bill (PIB) had been on the front burner over the years.

“This is for the first time in this country, where we must also enhance and ensure that the current collaboration between the executive and the parliament, which is the legislature, brings about a more improved, enhanced, effective, efficient and more transparent industry,” he added.

The senator noted that the story of the oil and gas industry in Nigeria would not be complete without recognising the critical role played by the NNPC.

He added that the opportunity of carrying out oversight functions of the industry made him understand the need for transparency, especially the activities of the NNPC.

“I think in terms of transparency, it is more enhanced; in terms of probity, they are more accountable to the people; in terms of effectiveness, they have actually deployed their skills to ensure that what used to be the norm is no longer there.

“As I said, yes we are not there yet, but also we are not where we used to be,” he added.

The senator further said he was confident in the current management of the NNPC led by Kyari, working very closely with him and his team in the last couple of months.

“As Senate Committee Chairman on Upstream, one of the first major assignments we had as a team was the review of the Deep Inland Basin Production Sharing Contract (PSC) Act; and then, we achieved a lot in terms of the magnitude in just a couple of days.

“That will not have been possible without the support of the GMD, who had sleepless nights with me, for days, and his team as well as the team from the Department of Petroleum Resources (DPR).

“We have to work closely as a team to protect the interest of our country. We did that and I must confess that is one of the major feats that this current National Assembly, especially the Senate, has achieved within the first one year in office,” he said.

He commended Kyari and his team for the good work they were doing and urged them not to relent for the growth and development of the country.

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