The Nigerian National Petroleum Company Ltd has been backed by a leading group of content creators and a coalition of civil societies for its effort to be more transparent and accountable to Nigerians.
The groups said the NNPCL made history after it shifted from opacity by publishing its accounts in 2020, the first in about 44 years.
Just like Saudi Aramco, the NNPCL is saddled with the responsibility of delivering energy security for the over 200 million Nigerians as provided by the Petroleum Industry Act 2021 (PIA).
Nigeria is dependent on oil for about two-thirds of government revenues.
The Director of Bloggers and Vloggers, Content Creators Association (BAVCCA), Dr. Stein Uguru said at the National Conference for Bloggers, Content Creators, Civil Society Organisations, and Community-Based Organisations (CBO) that the NNPCL has become a model company in terms of accountability.
The theme of the conference is, ‘Improving Public Trust Between NNPCL and Civil Society Organisations, Bloggers, and the Public.’
Before the Group Chief Executive Officer, Mele Kyari took over the affairs of the NNPCL, questions about the company’s business practices had raged for years.
“Transparency and accountability are cornerstones of trust in any organisation. Under Kyari’s stewardship, NNPCL has made significant strides in these areas.
“One of the most remarkable initiatives is the TAPE (Transparency, Accountability, and Performance Excellence) program,” said the BAVCCA director who was represented by Yakubu Gaiga.
The director said Kyari has set a new standard for corporate governance within NNPCL, promoting openness and ethical practices.
He said, “By making these financial statements publicly accessible, NNPCL has taken a bold step towards fostering trust and confidence among stakeholders, including the public, investors, and international partners.
“This gesture underscores NNPCL’s commitment to transparency, accountability, and open dialogue, which are fundamental to building public trust. The continuous publication of the Corporation’s Monthly Financial and Operations Reports (MFOR) is another laudable achievement.
“This practice places NNPCL in a unique position globally, as the only national oil company that publishes its financial and operations reports on a monthly basis. Such transparency not only enhances accountability but also provides valuable insights into NNPCL’s activities, performance, and strategic direction.
The NNPCL controls assets estimated at over N58.6tn, according to its 2022 financial statement released by Kyari.
“As bloggers and vloggers, our platforms can serve as bridges between NNPCL and the public. By hosting interviews, creating informative content, and facilitating discussions, we can help demystify complex issues and foster a better understanding of the challenges and opportunities within the oil and gas sector,” he added.
The President of the Coalition Of Civil Society Organisations (COCSO), Alhaji Ahmed Yusuf said one of Kyari’s notable accomplishments is the significant increase in Nigeria’s crude oil reserves.
Represented by Linda Orogun, the president said, “This has been achieved through the drilling of new wells, such as the Kolmani River II & III, and the exploration of new basins, including the Bida and Sokoto Basins.
“Recognizing the importance of boosting the country’s oil production, Kyari has spearheaded negotiations to increase production to a target of three million barrels daily. He has also successfully managed production shortages and addressed sabotage issues, ensuring a steady and reliable supply of this vital resource.”