Sunday, January 17, 2021

NNPC presents first budget to National Assembly in 43 years

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The House of Representatives has commended the Nigerian National Petroleum Corporation for presenting its budget to the National Assembly for the first time.

This was just as the Group Managing Director of NNPC, Mele Kyari, told the House that all the refineries had been shut down as vandals, thieves and weakness of the pipelines were frustrating supply of crude to the facilities.

Kyari also told the House that all the pipelines supplying commodities to the depots across the country had been shut due to security reasons.

The NNPC had earlier in June made history by publishing its audited financial statements for the first time since 43 years of its existence.

Kyari made the revelations when he appeared before the joint House Committees on Petroleum Resources (Upstream, Downstream and Gas) for budget defence.

Earlier, Chairman of the joint committee, Musa Sarkin-Ada, in his opening remarks, noted that the passage of the Petroleum Industry Bill for second reading by the House, without controversy, was a good omen.