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House of Representatives Thumbs up NNPC Ltd. Reforms, Profitability

Published

12 months ago

on

 

The House of Representatives has commended the on-going reforms at the
Nigerian National Petroleum Company (NNPC) Ltd, saying that the legislature is
very pleased with the company’s growth from a loss-making one into a profitmaking commercial entity.

The commendation came from the Speaker of the House of Representatives, Rt.
Hon. Abbas Tajudeen, when NNPC Ltd.’s Group CEO, Mele Kyari led the company’s
Senior Management on a courtesy call to the House of Representatives at the
National Assembly Complex, on Thursday.
The Speaker, who described the NNPC Ltd. as a critical stakeholder in Nigeria’s
economy, said that it is imperative for all arms of government to support the
Company to enable it deliver on its mandate.

“When we discuss the Nigerian economy, we must talk about the NNPC Ltd. as a
dominant force. We are delighted that the ongoing reforms at NNPC Ltd. have
started yielding fruit. It is pleasing to hear that you have moved from a lossmaking entity to a profit-making one. We urge you to sustain these reforms,” the
Speaker stated.

The Speaker, who congratulated President Bola Tinubu for the bold decision to
remove subsidy on petroleum products said the singular decision has relieved the country of a major problem that has bogged it over the years.

He called on the NNPC Ltd. management to devise more practicable ways of
revamping the nation’s refineries to turn around their fortunes for the better.
Describing crude oil theft and pipeline vandalism as a huge problem which, if left unchecked, could bring the nation’s economy to a halt, the Speaker assured that the Parliament would support the NNPC Ltd. in its fight against the menace.

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Earlier in his remarks, the GCEO of NNPC Ltd., Mr. Mele Kyari said that with the
passage of the Petroleum Industry Act (PIA) 2021, NNPC Ltd’s profitability margins
have significantly risen, growing from a loss position of N803billion in 2018 to a
profit position of N674billion in 2021.
Kyari noted that NNPC Ltd. is targeting a profit increase of N2trillion when the
2022 Audited Financial Statements (AFS) are released, adding that since July this
year, the Company has started paying dividends to its shareholders.

While lauding the National Assembly for the critical role it played in the
enactment of the Petroleum Industry Act (PIA) 2021, Kyari said that this legislative
endeavour had given birth to a new commercially oriented National Oil Company
(NOC) that is governed by the Company & Allied Matters Act (CAMA).

He informed the House that the Company has made robust plans for the supply
of petroleum products especially Premium Motor Spirit (PMS), also known as
petrol, sufficient to last beyond the ‘ember months and the new year festivities.
“By the creation of the National Assembly, NNPC Ltd. is saddled with the
responsibility of guaranteeing Nigeria’s energy security which is critical to national
security.

We have made a robust plan for the forthcoming end of the year
festivities and beyond. We do not see any shortages in the petroleum products.

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Kano State Hosts 8th Annual Audit Forum to Enhance Transparency and Accountability

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17 hours ago

on

November 21, 2024

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The 8th Annual Audit Forum, organized by the Office of the Auditor General of Kano State, was held recently, focusing on strengthening transparency and accountability in public financial management. .

Isma’ila Musa, the Auditor General of Kano State, welcomed the participants and highlighted the constitutional and legal mandates that guide the auditing process. “Sections 125(2) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and 36(i) of the Kano State Audit Law, 2021 (as amended) mandate the Office of the Auditor General to audit the accounts and financial statements of the State Government and all Offices and Courts,” he stated.

Musa expressed immense gratitude to His Excellency, Engineer Abba Kabir Yusuf, the Governor of Kano State, for his support in making the event possible. “It is very important to note that a strengthened fiscal transparency will help build trust in governance,” he emphasized. He added that the Audit Forum is a reform intended to reduce opportunities for corruption and abuse of public resources, thereby increasing the efficiency of public expenditures.

The Auditor General also acknowledged the contributions of various officials, including the Hon. Commissioner Ministry of Planning and Budget, the Accountant General, the Executive Chairman of Kano Internal Revenue Services, and former Auditors General, among others. “My sincere appreciation to all the invitees here present for honoring our invitation. I wish us a successful 8th Kano State Annual Audit Forum,” Musa concluded.

In his remarks, the Chairman of the House Committee on Public Accounts, Honorable Tukur Fagge, praised the exercise for its potential to enhance resource management and ensure the success of the tasks at hand. “This exercise will enhance resources management and will realize the success of the task,” Fagge stated.

Sarkin Shanon Kano, Shehu Muhammad Dankadai, who served as the royal father of the day, also graced the event, adding to the significance of the occasion.

The forum underscored the commitment of the Kano State Government to upholding transparency and accountability, reflecting the administration’s dedication to effective and efficient service delivery.

 

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Breaking: Former Secretary of Federal Electoral Commission, FEDECO, Ahmadu Kurfi Passes On at 93

Published

23 hours ago

on

November 21, 2024

By

Late Alhaji Ahmadu Kurfi

 

A former secretary of the Federal Electoral Commission, Alhaji Ahmadu Kurfi, has passed away.

A family source, Jafar Yakubu, informed NIGERIAN TRACKER about the death of the pioneer secretary of the Federal Electoral Commission, who supervised the 1979 general election.

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Jafar Yakubu said Alhaji Ahmadu Kurfi died at the age of 93 and his Janaza funeral prayers will take place by 2:30 PM at Kurfi in KATSINA state .

 

Dr. Amadu Kurfi, OFR, was born in 1931. He was a former chairman of the then Marketing Board, former Federal Permanent Secretary of the Federal Ministry of Defence, and the first person to acquire a BSc degree in the whole of Katsina State, at University College London in 1957.

 

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President Tinubu Sacks UNIZIK Vice-Chancellor, Registrar

Published

2 days ago

on

November 20, 2024

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The governing council of the Nnamdi Azikiwe University has been dissolved by President Bola Tinubu.

The president dissolved the council and approved the removal of the institution’s vice-chancellor Bernard Odoh and the university registrar, Rosemary Nwokike.

A statement by Bayo Onanuga, the special adviser to the president on information and strategy said the action by Tinubu follows allegations of procedural violations in the appointment of the Vice-Chancellor.

He also said that the council led by Greg Ozumba Mbadiwe and including five other members—Hafiz Oladejo, Augustine Onyedebelu, Engr. Amioleran Osahon, and Rtd. Gen. Funsho Oyeneyin was accused of bypassing due process to appoint an unqualified candidate, prompting federal intervention.

Onanuga said, “The sacking of the governing council and officials followed reports that the council illegally appointed an unqualified vice-chancellor without following due process.

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He added that following the controversial appointment, the Federal Government stepped in to address the rivalry between the university’s Senate and the governing council of the institution.

“The government expressed concern over the council’s apparent disregard for the university’s governing laws in its selection process”, Onanuga added.

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