The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NETTI), Dr Ogbonnaya Orji, has expressed confidence in the Nigerian National Petroleum Company Limited (NNPCL) under the leadership of Mr. Bayo Ojulari to deliver on the ongoing reforms and set new benchmarks for corporate governance in Africa’s extractive industry.
Speaking during a courtesy visit to the NNPCL management in Abuja, Orji commended the vision of the new NNPCL leadership, noting that its assumption of office came at a defining moment for the extractive sector, when reforms, renewed investor confidence and expanded indigenous participation were reshaping Nigeria’s oil and gas landscape.”
He urged the NNPCL to stand as a model of transparency, accountability, efficiency, and civic engagement, stressing that the values remained essential to restoring public trust and safeguarding the company as Nigeria’s greatest national asset.
Responding, the NNPCL boss said that the company would sustain its collaboration with NEITI to strengthen corporate governance in line with global transparency and accountability standards.
Ojulari, who said the NNPC remained unwavering in its commitment to deeper disclosures and transparent reporting, noted that the company has since reinstated the publication of monthly financial and operational reports and strengthened its internal reporting structures to ensure greater accountability.
“In terms of full compliance with NEITI principles and global EITI standards, you have my full commitment. We will look to your guidance as we deepen this. We are already doing a lot of internal transformation to deepen transparency in our operational reporting and performance reviews,” Ojulari said.
He added that the NNPCL would lean on NEITI’s global experience in providing feedback on performance reviews.
On the forthcoming NEITI 2024 Oil and Gas Audit, the GCEO said NNPC was fully prepared to provide comprehensive data for the 2024 and 2025 audits and would leverage technology to ensure efficiency and timeliness.
GIK/APA