The Nigerian National Petroleum Company (NNPC Ltd.) has reaffirmed its unwavering dedication to eradicating crude oil theft within the country, emphasizing its commitment to safeguarding energy security and bolstering economic prosperity.
During a presentation on NNPC Ltd.’s operations under the Petroleum Industry Act (PIA) 2021 at the Federation Account Allocation Committee Retreat in Asaba, Delta State, Group Chief Executive Officer Mele Kyari underscored the company’s zero-tolerance stance against crimes impacting the nation’s energy security.
Represented by the Chief Financial Officer, Umar Ajiya, Kyari highlighted the collaborative security efforts that have successfully curbed illegal operations on crude oil and product pipelines, resulting in multiple arrests.
He said the security operation would halt crude oil theft and pipeline vandalism, ultimately elevating the nation’s oil production, boosting revenues, enhancing energy security, and fostering economic prosperity.
Speaking on the PIA, Kyari emphasized its role in repositioning NNPC Ltd. for sustainable success, aligning its operations with global best practices.
He highlighted financial integrity as pivotal to NNPC Ltd.’s current operations, citing the company’s significant contribution—over 40%—to the nation’s total tax revenue.
Furthermore, NNPC Ltd. pledged ongoing collaboration with the Nigeria Extractive Industries Transparency Initiative (NEITI) and other stakeholders, underscoring its commitment to transparency and value delivery to Nigerians.
The retreat, themed “Creating Resilient Economy through Diversification of the Nation’s Revenue,” was organized by the Federal Ministry of Finance in partnership with the Delta State Government, aiming to chart pathways for a robust and diversified national revenue base.
On his part, Olufemi O. Soneye, Chief Corporate Communications Officer of NNPC Ltd., reiterated the company’s dedication to ensuring a transparent and resilient economy while prioritizing the nation’s energy security and economic advancement.
