EITI Rates NNPC High on Compliance 

Global transparency body, Extractive Industries Transparency Initiative, has scored the Nigerian National Petroleum Company Limited high in its latest global assessment.

This was disclosed by EITI’s Deputy Executive Director, Bady Baldé, during a visit by an EITI delegation to the Group Chief Executive Officer of the NNPC Ltd, Mele Kyari.

Baldé, who said the delegation’s visit was to communicate the group’s findings in its recent global assessment to the company, noted that NNPC Ltd fared very well among companies in the same category. He added that only Equinox of Norway fared better than NNPC Ltd in the assessment.

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, 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.

Georgina Ndukwe-Ezeanyika

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