July 21, 2024
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EITI Rates NNPCL High in its Latest Global Assessment

The 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.

This was made known by EITI’s Deputy Executive Director, Mr Bady Baldé, when he led an EITI delegation to the Group Chief Executive Officer of NNPC Ltd, Mr Mele Kyari, in Abuja.

The delegation’s visit according to Baldé, in a statement by the Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye, was to communicate the group’s findings in its recent global assessment to the company.

NNPC Ltd fared very well among companies in the same category, he said. He added that only Equinox of Norway fared better than NNPC Ltd in the assessment. Meanwhile, he explained that there was still room for NNPC Ltd to improve; adding that compliance with global EITI standards will help boost the company’s credibility.

The EITI boss further urged NNPC Ltd to remain engaged to play an active role in its Nigerian unit, the Nigeria Extractive Industries Transparency Initiative (NEITI).

Kyari in his welcome address, 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. Its partnership with EITI/NEITI, has made it a more reliable company.

He however expressed disappointment in NEITI’s inability to seek clarification on any perceived gap in its assessment. Instead, they went public with its report that NNPC Ltd failed to remit some monies into the Federation Account. He explained that NNPC Ltd was holding no public funds back.

On his part, the Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji, called for the reconstitution of the NNPC/NEITI Joint Committee on Reconciliation, adding that the committee could help in straightening grey areas. (NAN).

 

 

 

 

 

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