NNPC cut losses to N82bn from N800bn – Kyari

The Nigerian National Petroleum Corporation (NNPC) said losses from vandalism and oil theft reduced from N800 billion in 2018 to less than N82b, a feat attributable to clampdown on vandals by joint security efforts.

Group Managing Director (GMD) Mele Kyari disclosed this at the official handover of four patrol vehicles and four quad bikes to the Taskforce against vandalism, Operation AWATSE at the headquarters, Western Naval Command (WNC) in Apapa, Lagos.

According to him, the reduction in losses was a feat they were very proud of.

Kyari said the NNPC, under his watch, promised accountability to Nigerians and have stayed committed to it, noting the corporation was the only agency that publishes its operations account monthly.

“We promised Nigerians that this company, our own company owned by all of us, the over 200 million Nigerians will be accountable to all. We are very accountable to all.

“Today, everybody knows what we are doing. We are the only company that publishes its operations account on monthly basis.

“We have never published the annual financial statement of this company but it was done for 2018 and 2019.

“Nigerians now know what we are doing on their behalf and that has caused us to improve in our performance.

“We have reduced our losses from what was N800 billion in 2018 to less than N82 billion and we are very proud of this.

“Therefore in terms of accountability and transparency, we have achieved that and we also promise that we will perform excellently on behalf of the Nigerian people.