The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said the corporation will publicise details of petroleum products supplied across Nigeria to promote transparency.
The NNPC is currently the sole importer of petrol into Nigeria following complaints by private businesses that the total cost of importation is higher than a government-fixed retail price.
The government subsidises the NNPC to maintain the approved N145 retail price. The NNPC, after importation, sells the products to other marketers across the country.
According to a press statement made available to PREMIUM TIMES by the NNPC spokesperson, Samson Makoji, the corporation’s Group Managing Director, Mele Kyari, disclosed this on Tuesday while receiving a delegation of the Media Initiative for Transparency in Extractive Industries (MITEI) at the NNPC Towers in Abuja.
Addressing the MITEI delegation led by its National Coordinator, Bassey Udo, the GMD stated that beyond publishing the corporation’s Monthly Financial and Operations Reports, arrangements were afoot to make public all petroleum products supply transactions in the country to further deepen the culture of transparency in the system.
“We will continue to be transparent to our stakeholders, we will do more than you can ever imagine in terms of transparency. We will not just publish our financial records, but very soon, we will publish more things that Nigerians need to know, particularly details of petroleum products supply and distribution which is an area most people don’t understand,” Mr Kyari said.
He said the corporation stood to gain more in terms of reputation and goodwill from being transparent, noting that trust in business requires corresponding responsibility of accountability to all stakeholders.
“You lose nothing by being accountable and transparent, and the combination of the two will enable you have a good relationship with your stakeholders and ultimately lead you to excellent performance,” he said.
Mr Kyari explained that his relationship with MITEI was based on the principle of “common good” since the objective of the group aligns with the core values of the corporation.
Earlier in his remarks, the National Coordinator of the group, Mr Udo, commended the Transparency, Accountability and Performance Excellence (TAPE) initiative of the GMD as a visionary move to reposition the oil and gas sector.
He expressed delight that the NNPC boss, within the short period of his appointment, had started walking the talk by taking bold decisions towards realizing his promises to the nation and citizens.
Mr Udo said the group’s visit was informed by the consistent and remarkable track record the GMD has maintained since his days as the Group General Manager, Crude Oil Marketing Division (COMD).
He listed some of the actions of the current NNPC leadership that endeared the corporation to the group to include: Publishing of the DSDP contract winners, refineries rehabilitation efforts, signing of Key Performance Indicators by top management, and Transparency, Accountability and Performance Excellence (TAPE) initiative.