The Nigeria Extractive Industries Transparency Initiative (NEITI) has applauded the Nigeria National Petroleum Corporation (NNPC) for publishing its audited accounts on its website.
In a statement signed by Orji Ogbonnaya Orji, its director of communications, NEITI said the act is the fulfilment of a pledge made by Mele Kyari, NNPC group managing director, at a meeting on August 6, 2019.
According to the statement, the NEITI management urged Kyari to consider demonstrating his commitment to transparency by making public NNPC’s audited accounts during the August 2019 advocacy meeting to which the NNPC GMD consented.
“We welcome the eventual fulfilment of this important pledge and obligation,” the statement quoted Waziri Adio, NEITI executive secretary, to have said.
“Given NNPC’s antecedents and its prominent role in the sector and in the country, the publication of its audited accounts is positive, signalling more openness for the oil and gas sector and for Nigeria.
“When combined with the monthly reports that NNPC started publishing in 2016, this development marks a sea-change for a national oil company that used to be renowned for opacity.”
Adio urged NNPC to make the publication a normal routine to mainstream transparency into all facets of its operations.
He also advised the NNPC to go further by publishing its previous audited accounts and in open data formats so that the reports can be more accessible to citizens who are the shareholders of the corporation.
The NEITI boss said the agency is working closely with NNPC on remediation and mainstreaming adding that the report would be made public soon.
Meanwhile, Nasir El-Rufai, governor of Kaduna state, said the “oil cabal” will definitely attack Kyari for publishing the NNPC financial accounts.
“Mele Kyari’s heart is in the right place. His tenure shall be the game-changer that NNPC and Nigeria needs,” El-Rufai said.
“He is competent, confident and rapidly plugging leakages, repositioning the corporation towards greater transparency & accountability. The oil cabal will certainly attack.”