By Stella Odueme
Global transparency body, Extractive Industries Transparency Initiative (EITI), has scored the Nigerian National Petroleum Company Limited (NNPCL) high in its latest global assessment.
Also, the Group Chief Executive Officer of the NNPC Ltd, Mr. Mele Kyari insisted that NNPCL was not witholding public funds 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.
This was disclosed by EITI’s Deputy Executive-Director, Mr. Bady Baldé, during a visit by an EITI delegation to the Kyari in Abuja.
A statement by NNPCL Chief Corporate Communications Officer, Olufemi O. Soneye at the weekend in Abuja said
Baldé who disclosed that the delegation’s visit was to communicate the group’s findings in its recent global assessment to the company, said NNPCL fared well among companies in the same category as it was only Equinox of Norway that fared better than NNPCL in the assessment.
He, however, said there was room for NNPCL to improve, stressing that compliance with global EITI standards will help boost the company’s credibility.
The EITI boss also urged NNPCL to remain engaged to play an active role in its Nigerian unit, the Nigeria Extractive Industries Transparency Initiative (NEITI).
Earlier in his welcome remarks, Kyari highlighted some of the key changes in the operations of the NNPC Ltd since its transformation into a commercially focused limited liability company in 2021.
He acknowledged that the NNPC Ltd.’s partnership with EITI/NEITI has made it a much more reliable company.
On his part, the Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, called for the reconstitution of the NNPCL/NEITI Joint Committee on Reconciliation, stressing that the committee could help in straightening out any grey areas.
