By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Times ReportersTimes Reporters
  • Home
  • News
  • Politics
  • Business
    • Economy
  • Sports
  • Entertainment
  • About Us
  • Bookmarks
Search
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Reading: Transparency: EITI Rates NNPC Ltd High in Compliance
Share
Sign In
Notification Show More
Latest News
Dangote Bags ‘Cement Company of the Year’ Award At Africa Housing Show
Awards and Recognitions Business Metro News
NCAA Suspends Two ValueJet Pilots for Breach of Safety Protocols at Abuja Airport
Aviation News
Literary festival showcases Buratai’s leadership lessons for youth
Entertainment Literature/Arts/Culture Media Metro News Travel/Leisure
NNPC Ltd GCEO, Ojulari, Sighted at NNPC Towers on Monday 
News Oil & Gas
General Oluyede: Improved Welfare Will Boosts Morale of Troops
Conflict Defence Insecurity News
Aa
Times ReportersTimes Reporters
Aa
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Search
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Have an existing account? Sign In
Follow US
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Times Reporters > Business > Oil & Gas > Transparency: EITI Rates NNPC Ltd High in Compliance
NewsOil & Gas

Transparency: EITI Rates NNPC Ltd High in Compliance

Publisher
By Publisher Published January 28, 2024
Share
3 Min Read
SHARE

…As Kyari Insists No Public Fund Withheld

By Chidiebere Ugwu

Global transparency body, Extractive Industries Transparency Initiative (EITI), has scored the Nigerian National Petroleum Company Limited (NNPC Ltd) very high in its latest global assessment.

According to a statement by Olufemi Sonete, this was disclosed by EITI’s Deputy Executive Director, Mr. Bady Baldé, during a visit by an EITI delegation to the Group Chief Executive Officer of the NNPC Ltd, Mr Mele Kyari, in Abuja on Thursday.

Baldé who said 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, adding that only Equinox of Norway fared better than NNPC Ltd in the assessment.

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

The EITI boss also urged NNPC Ltd 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.

He, however, expressed disappointment with NEITI 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.

He explained that NNPC Ltd 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.

He disclosed that NNPC Ltd would have released its Audited Financial Statement (AFS) 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.

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.

Like this:

Like Loading...

Related

You Might Also Like

Dangote Bags ‘Cement Company of the Year’ Award At Africa Housing Show

NCAA Suspends Two ValueJet Pilots for Breach of Safety Protocols at Abuja Airport

Literary festival showcases Buratai’s leadership lessons for youth

NNPC Ltd GCEO, Ojulari, Sighted at NNPC Towers on Monday 

General Oluyede: Improved Welfare Will Boosts Morale of Troops

TAGGED: EITI, Extractive Sector

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Publisher January 28, 2024
Share this Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Copy Link Print
Share
Previous Article NAF finally admits bombing innocent civilians in Nasarawa
Next Article ECOWAS suffers depletion, as Burkina Faso, Mali, Niger, withdraw membership
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe
Telegram Follow

– Member of –

- Advertisement -
Ad imageAd image

Latest News

Dangote Bags ‘Cement Company of the Year’ Award At Africa Housing Show
Awards and Recognitions Business Metro News August 6, 2025
NCAA Suspends Two ValueJet Pilots for Breach of Safety Protocols at Abuja Airport
Aviation News August 6, 2025
Literary festival showcases Buratai’s leadership lessons for youth
Entertainment Literature/Arts/Culture Media Metro News Travel/Leisure August 5, 2025
NNPC Ltd GCEO, Ojulari, Sighted at NNPC Towers on Monday 
News Oil & Gas August 5, 2025

You Might also Like

Awards and RecognitionsBusinessMetroNews

Dangote Bags ‘Cement Company of the Year’ Award At Africa Housing Show

August 6, 2025
AviationNews

NCAA Suspends Two ValueJet Pilots for Breach of Safety Protocols at Abuja Airport

August 6, 2025
EntertainmentLiterature/Arts/CultureMediaMetroNewsTravel/Leisure

Literary festival showcases Buratai’s leadership lessons for youth

August 5, 2025
NewsOil & Gas

NNPC Ltd GCEO, Ojulari, Sighted at NNPC Towers on Monday 

August 5, 2025
Times ReportersTimes Reporters
Follow US

© 2024 Times Reporters | Deigned by AuspiceWeb Graphics. All Rights Reserved.

  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
Join Us!

Subscribe to our newsletter and never miss our latest news!

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?
%d