Adedapo Adesanya
By Adedapo Adesanya
The Nigerian National Petroleum Corporation (NNPC) has revealed plans to declare the first dividend to its shareholders as it noted that it will publish its 2020 statement of accounts within the third quarter of this year.
The Group Managing Director of the state oil corporation, Mr Mele Kyari, dropped these hints on Monday, August 2, in Lagos at the opening ceremony of the Nigeria Annual International Conference & Exhibition, organised by the Society of Petroleum Engineers.
According to Mr Kyari, this would be the first time that the body in its 44 years of existence would be paying an annual dividend.
“I can tell you, within the next month or two maximum, we will publish our statement of accounts for 2020.
“And I can also confirm to you that for the first time in our history, we will declare dividends to the Nigerian people,” he said.
The NNPC helmsman added that the corporation was positioning itself in alignment with the wider national interest, noting that it would play a key role in the global transition to low carbon energy in the near future.
“Our tremendous natural gas reserves have become our greatest enabler to smooth transition to low carbon energy.
“We are deepening natural gas utilisation under the national gas expansion plan to earn more carbon credits and create a net-zero carbon environment in line with our drive to becoming an energy company of global excellence,” he added.
Business Post had reported that the state oil giant had promised to pay its dividend before the end of the year as it was taking a more transparent and open approach in its operations.
Last year, NNPC published for the first time its 2018 financial statements and within the next five months, it followed up with the 2019 financial statements. With the publication of the 2020 numbers, it would signify the third time that the corporation would be declaring results since it was established in April 1977.
