Trading

NNPC becomes EITI supporting company

Nigerian National Petroleum Corporation (NNPC) has become an Extractive Industries Transparency Initiative (EITI) supporting company.

The Group Managing Director, mallam Mele Kyari announced this on his twitter account @MKKYARI on Tuesday.

He said that with the development, the corporation had joined a group of over 65 extractives companies, state-owned enterprises (SOEs), commodity traders, financial institutions and industry partners commitTed to observing the EITI’s supporting company expectations.

“Becoming an EITI supporting company aligns with NNPC’s corporate vision and principles of transparency, accountability and performance excellence.

“Our partnership with Nigeria Extractive industry Transparency Initiative (NEITI)and EITI strengthens our commitment towards commodity trading transparency, contract transparency and systematic disclosure of revenues and payments.

“We are on a journey towards greater transparency and look forward to deepening our collaboration with the EITI to further this work,” he said.

Commenting, EITI Board Chair, Hon. Helen Clark, welcomed the company’s commitment to the EITI.

“NNPC plays a vital role in Nigeria’s economy. Joining the EITI as a supporting company is a welcome step in the NNPC’s journey toward achieving greater transparency.

Source: Voice of Nigeria