For first time in 44 years, NNPC may declare dividend to Nigerians

The Nigerian National Petroleum Corporation (NNPC) has announced plans to declare its first dividends to Nigeria, 44 years after establishment.

The Group Managing Director, Mele Kyari, disclosed this while delivering an address at the opening ceremony of the Nigeria Annual International Conference and Exhibition organised by the Society of Petroleum Engineers on Monday.

According to Kyari its 2020 financial statements which will be released in the third quarter of this year will come with unprecedent news.

He said, “Everything we are doing must align with the wider national interest. And therefore, NNPC, being the representatives of all of us and, is, of course, a very potential global player – this is our ambition and we are getting there.

READ ALSO: NNPC reports N104.3bn loss as refineries record zero output

“And I can tell you, within the next month or two maximum, we will publish our statement of accounts for 2020. And I can also confirm to you that for the first time in our history, we will declare dividend to the Nigerian people.”

Kyari said the corporation would play a key role in the global transition to low carbon energy in the near future.

“Our tremendous natural gas reserves have become our greatest enabler to smooth transition to low carbon energy. We are deepening natural gas utilisation under the national gas expansion plan to earn more carbon credits and create a net zero carbon the environment in line with our drive to becoming an energy company of global excellence,” he added.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now