HURIWA Applauds NNPC Limited’s Transparency In 2023 Financial Report

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 noted that the NNPCL’s declaration of a net profit of N3.3 trillion, alongside the announcement of a N2.1 trillion dividend, marked 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).

A statement by Emmanuel Onwubiko, National Coordinator of HURIWA, lauded the management of NNPCL under the leadership of Mr Mele Kyari, Group Managing Director, adding that the company’s impressive financial performance and commitment to openness signaled a new era in Nigeria’s petroleum industry.

HURIWA said 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.

It also said 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.

The statement further said; “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 highlighted that the NNPCL’s progress in financial transparency is directly linked to the leadership of Kyari, who assumed the role of Group Managing Director in 2019, adding that Kyari’s tenure has been marked by a series of transformative reforms aimed at improving the efficiency and profitability of NNPCL.

According to HURIWA; “Since taking office, Mele Kyari has demonstrated an unwavering commitment to repositioning NNPCL as a transparent and accountable entity. His leadership has ushered in a new era of corporate responsibility, which has now culminated in the remarkable financial performance recorded in 2023”.