NNPC to begin publishing details of petroleum products supplies

The Nigerian National Petroleum Corporation (NNPC) is set to commence the publication of details of its petroleum products supplies.

The Group Managing Director of the NNPC, Mallam Mele Kyari, disclosed this on Tuesday while receiving a delegation of the Media Initiative for Transparency in Extractive Industries (MITEI) at the NNPC Towers in Abuja.

Addressing the MITEI delegation led by its National Coordinator, Mr. Bassey Udo, the GMD stated that beyond publishing the corporation’s Monthly Financial and Operations Reports, arrangements were afoot to make public all petroleum products supply transactions in the country to further deepen the culture of transparency in the system.

“We will continue to be transparent to our stakeholders; we will do more than you can ever imagine in terms of transparency. We will not just publish our financial records, but very soon, we will publish more things that Nigerians need to know, particularly details of petroleum products supply and distribution which is an area most people don’t understand”, Mallam Kyari said.

He said the corporation stood to gain more in terms of reputation and goodwill from being transparent, noting that trust in business requires corresponding responsibility of accountability to all stakeholders.

“You lose nothing by being accountable and transparent, and the combination of the two will enable you have a good relationship with your stakeholders and ultimately lead you to excellent performance”, he said.

Mallam Kyari explained that his relationship with MITEI was based on the principle of “common good” since the objective of the group aligns with the core values of the corporation.

Earlier in his remarks, the National Coordinator of the group, Mr. Bassey Udo, commended the Transparency, Accountability and Performance Excellence (TAPE) initiative of the GMD as a visionary move to reposition the oil and gas sector.