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2023 financial report: HURIWA extolls NNPCL over transparency, accountability

August 26, 2024

2023 financial report: HURIWA extolls NNPCL over transparency, accountability

The Human Rights Writers Association of Nigeria (HURIWA) has commended the Nigerian National Petroleum Company Limited (NNPCL) for its unprecedented 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).

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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 HURIWA, 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.

The human rights group 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,” HURIWA stated.

HURIWA highlighted 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.

The organization pointed out that 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,” it stated.

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