From Fred Ezeh, Abuja
National Association of Nigerian Students (NANS) has appreciated the improved transparency and accountability in the activities of the National National Petroleum Company Limited (NNPCL) particularly its financial activities.
NANS said the accountability in the operations of NNPCL resulted in the positive outcome of its 2023 Audited Financial Statement which highlighted a remarkable asset growth, declaring a net profit of N3.297tn at the close of the financial year which ended in December 2023, an increase of over N700bn (28 per cent) when compared to the 2022 profit of N2.548tn.
The Association said the significant increase in assets, along with a pre-tax profit of N5.98 trillion and a net profit of N3.29 trillion, clearly indicates the company’s steady progress toward achieving its strategic objectives.
NANS President, Lucky Emonefe, in a statement, on Sunday, attributed the success to the visionary leadership of the management of NNPCL led by Mele Kyari.
He, however, urged Nigerians to exercise patience and understanding with the administration of President Bola Ahmed Tinubu, as it tackles the complexities of economic recovery and growth.
He said: “The recent removal of fuel subsidies, though challenging, is a necessary step toward economic sustainability and growth. This bold decision is expected to redirect resources into critical sectors, drive economic diversification, and create opportunities for all Nigerians.
“We acknowledge the initial difficulties brought about by the subsidy removal, but we are confident that the long-term benefits will far outweigh the temporary challenges. The Renewed Hope Agenda, led by President Tinubu, is a comprehensive plan aimed at revitalizing our economy, creating jobs, and improving living standards.”
He commended Mele Kyari, the Group Managing Director of NNPCL along with the board and management of the company, for their exceptional leadership which has instilled hope and confidence in Nigeria’s economic future.
“We are confident that their dedication and expertise will continue to drive Nigeria’s economic progress and growth,” he added.