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Why NNPCL Didn’t Publish 2022 Audit Report — Kyari

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The Group Chief Executive Officer of Nigerian National Petroleum Corporation Limited, Mele Kyari, has explained why the company failed to release its Audited Financial Statement for 2022.

According to Kyari, the financial report was not released because the NNPCL did not have a substantive board of directors as of June 2023 when the report was ready.

A statement by the NNCL Chief Corporate Communications Officer, Olufemi Soneye, on Saturday evening, quoted Kyari as speaking during a meeting with the Deputy Executive Director, Extractive Industries Transparency Initiative, Mr Bady Baldé on Thursday.

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Kyari had said that “NNPCL would have released its Audited Financial Statement for 2022 since June 2023 but could not do so because it had no substantive Board of Directors at that time, adding that the AFS will be published on the company’s website in the next few days”.

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The statement added that Kyari “expressed disappointment with the Nigeria Extractive Industries Transparency Initiative for going public with its report that NNPC Ltd failed to remit some monies into the Federation Account instead of seeking clarification on any perceived gap in its assessment.”

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The NNPCL boss was said to have explained at the meeting that the company “was holding no public funds back and that what NEITI reported as non-remittance was what was due to the company as payment for taking the burden of fuel subsidy on behalf of the Federal Government”.

Soneye informed that the EITI boss scored the NNPCL high in its latest global assessment, adding the delegation’s visit was to communicate the group’s findings in its recent global assessment to the company. said NNPC Ltd. fared very well among companies in the same category.

Baldé had added that “only Equinox of Norway fared better than NNPC Ltd. in the assessment”.

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He was said to have noted that there was still room for NNPCL to improve, stressing that compliance with global EITI standards will help boost the company’s credibility.

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The EITI boss had also urged NNPC Ltd. to remain engaged to play an active role in its Nigerian unit, the Nigeria Extractive Industries Transparency Initiative (NEITI).

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On his part, the Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji, called for the reconstitution of the NNPC/NEITI Joint Committee on Reconciliation, stressing that the committee could help in straightening out any grey areas.

The PUNCH had reported that NEITI in September 2023 said the NNPCL did not pay approximately N2.8 trillion in taxes to the Federal Government in 2022.

In its 2021 Oil and Gas Industry Report’, NEITI stated that of about N3.5tn ($8.25bn at N448/$1 exchange rate in 2022) owed the Nigerian Upstream Petroleum Regulatory Commission during the period under review, NNPCL was owing more than 80 percent (N2.8tn) of the outstanding tax collectible revenues.

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According to the report, the unremitted sum consisted of about $279m earned by the Federation from trial marketing under First Exploration and Production Joint Venture; $8m from Oil Mining License 116 operated by a subsidiary of NNPCL, the Nigerian Petroleum Development Company; $871m unremitted domestic crude oil sales, and about $46m unremitted balance from the domestic gas proceeds account as of December 31, 2021.

 

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YULETIDE: UBTH CMD Charges Nigerians To Be Hopeful In Coming Year

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The Chief Medical Director of the University of Benin Teaching Hospital (UBTH), Prof. Idia Ize-Iyamu has urged Nigerians to remain optimistic about the upcoming year, despite current challenges.

Prof. Ize-Iyamu expressed optimism that the coming year would bring improvements for everyone.

The CMD made these remarks during the Nine Lessons and Carol night /End of Year Party organized by UBTH for staff and students held in Benin.

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Prof. Ize-Iyamu encouraged everyone to place their trust solely in Christ to overcome the numerous challenges facing the country.

READ ALSO:UBTH CMD Laments Inadequate Heath Workers, As Minister Promises Increased Funding

She expressed her gratitude to the hospital community for their support during her first four months in office.

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Prof. Ize-Iyamu assured them that the coming years hold many opportunities and that hope in Christ would transform lives daily, just as Christ’s birth brings joy and is the reason for the season.

She also extended her appreciation to everyone in the spirit of the season.

READ ALSO:UBTH Marks 2023 World Antimicrobial Resistance Awareness Week

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I want to appreciate everyone in the spirit of the season. Our commitment to excellence and professionalism remains at UBTH.

“UBTH CARES and just like Christ cares. As we celebrate Christ and the season. Let’s hope on him. When you have Christ, you have hope.We are hopeful that the coming year will be better as a people and institution,” Ize-Iyamu said.

The ceremony’s highlight featured a visit to the hospital wards where the CMD distributed gifts to patients and newborns, with management, staff, and students in attendance.

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Christmas: Edo Deputy Gov Preaches Unity, Hope

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The Deputy Governor of Edo State, Hon. Dennis Idahosa has called on residents of the state to embrace unity, love, and renewed hope as Christians celebrate Christmas.

In a statement by his Chief Press Secretary, Mr Friday Aghedo, Idahosa emphasised that Christmas represents values that unite people, regardless of tribe, religion, or politics, promoting compassion, generosity, and peace.

He described the birth of Jesus Christ as a timeless reminder of the values of peace, sacrifice, and compassion, which he said are critical to societal growth and harmonious coexistence.

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He urged Edo people to take advantage of the festive season to strengthen communal ties, extend goodwill to the less privileged, and recommit themselves to the collective development of the state.

READ ALSO:Edo Dep. Gov. Idahosa Inducted, Bestowed With Rotary Premium Award

The deputy governor further said that Christmas underscores the importance of shared humanity and collective responsibility in building a prosperous society.

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“Christmas is a season that reminds us of the power of hope and shared humanity.

“As a people, we must continue to stand together, support one another, and work collectively for a more prosperous Edo State,” Idahosa said.

READ ALSO:Okpebholo, Idahosa Bag UNIBEN Distinguished Service, Leadership Awards

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He reassured residents of the state of the firm commitment of the Governor Monday Okpebholo-led administration to enthrone good governance, inclusive development, and people-oriented policies aimed at improving the welfare and well-being of all Edo citizens.

Idahosa also appealed to residents to celebrate the season responsibly and sustain peace and harmony before, during, and after the festivities.

He wished Christians a joyous Christmas celebration and prayed for a peaceful, progressive, and prosperous Edo State.

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YULETIDE: Edo Sports Commission Boss Preaches Unity, Peace

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The Executive Chairman of the Edo State Sports Commission, Hon. Amadin Desmond Enabulele, has extended warm Christmas greetings to athletes, coaches, sports administrators, journalists, and the people of Edo State, urging them to uphold the enduring values of love, peace, and unity that define the festive season.

In a statement issued by his Media Officer, Edoko Wilson Edoko, Hon. Enabulele described Christmas as a period of reflection, gratitude, and renewed commitment to collective progress and shared responsibility.

“I sincerely appreciate all stakeholders in the sports sector for their cooperation, resilience, and unwavering support throughout the year. Your contributions have been instrumental to the growth and success of sports in Edo State,” he said.

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READ ALSO:Edo SWAN Distances Self From Online Publication Against Enabulele

He further commended Edo athletes for their dedication and discipline, noting that their consistent performances have continued to bring pride and recognition to the state at both national and international levels.

According to him, the Commission remains committed to athletes’ welfare, grassroots sports development, and the creation of opportunities that will enable talents to flourish.

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Enabulele also called on residents of the state to celebrate responsibly and show compassion to one another, particularly the less privileged, emphasizing that unity and peaceful coexistence are vital for sustainable development.

READ ALSO:How Enabulele Is Driving Okpebholo’s Agenda In Edo Sports Commission

He reaffirmed the Edo State Sports Commission’s resolve to strengthen collaboration with partners and stakeholders in the coming year, with increased focus on excellence, transparency, and inclusive sports development.

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The Sports Commission boss concluded by wishing everyone a joyous Christmas celebration and a prosperous New Year filled with hope, good health, and greater achievements.

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