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HURIWA applauds NNPCL’s transparency, accountability in 2023 financial report

Published

2 years ago

August 25, 2024

HURIWA applauds NNPCL’s transparency, accountability in 2023 financial report

The Human Rights Writers Association of Nigeria (HURIWA) has commended the Nigerian National Petroleum Company Limited (NNPCL) for its unprecedented display of transparency and accountability in releasing its 2023 Audited Financial Statement (AFS).

HURIWA stated that the NNPCL’s declaration of a net profit of N3.3 trillion, alongside the announcement of a N2.1 trillion dividend, marks a significant milestone in the company’s history and represents a clear departure from the opacity and inefficiency that once characterized the former Nigerian National Petroleum Corporation (NNPC).

In a statement released on Sunday, HURIWA’s National Coordinator, Comrade Emmanuel Onwubiko lauded the management of NNPCL under the leadership of the Group Managing Director, Mele Kyari, noting that the company’s impressive financial performance and commitment to openness signal a new era in Nigeria’s petroleum industry. According to HURIWA, the reborn NNPCL has demonstrated a commitment to upholding the principles of good corporate governance, a stark contrast to the previous practices that plagued the then NNPC.

The human rights group emphasized that NNPCL’s release of its audited financials, which showed a 28% increase in profit from the previous year, is a testament to the company’s resolve to operate with integrity and transparency. “This is a remarkable achievement that reflects the positive changes implemented since NNPC transitioned to NNPCL. The company’s ability to post such impressive returns amidst the challenges in the operational and economic environment is commendable,” HURIWA stated.

HURIWA highlighted that the NNPCL’s progress in financial transparency is directly linked to the leadership of Mele Kyari, who assumed the role of Group Managing Director in 2019. The organization pointed out that Kyari’s tenure has been marked by a series of transformative reforms aimed at improving the efficiency and profitability of NNPCL. “Since taking office, Mele Kyari has demonstrated an unwavering commitment to repositioning NNPCL as a transparent and accountable entity.His leadership has ushered in a new era of corporate responsibility, which has now culminated in the remarkable financial performance recorded in 2023,” HURIWA noted.

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The human rights group also praised the NNPCL Board for its role in driving the company’s success. The approval of a final dividend of N2.1 trillion by the company’s shareholders, as announced by NNPCL Board Chairman, Chief Pius Akinyelure, was described by HURIWA as a reflection of the confidence reposed in the company’s management. “The decision to declare such a substantial dividend underscores the commitment of the NNPCL Board and Management to delivering value to shareholders and contributing to Nigeria’s economic growth,” HURIWA remarked.

Furthermore, HURIWA underscored the significance of the Petroleum Industry Act (PIA) 2021 in enabling NNPCL’s transformation. The group argued that the PIA has provided the necessary framework for the company to operate more efficiently and transparently, thereby enhancing its ability to achieve sustained profitability. “The PIA 2021 has played a crucial role in creating an enabling environment for NNPCL to thrive. The Act’s provisions have empowered the company to implement strategic initiatives that have resulted in the impressive financial outcomes we are witnessing today,” HURIWA observed.

However, while commending NNPCL’s progress, HURIWA also issued a stern reminder that the company must remain vigilant in safeguarding its newfound transparency and accountability. The organization urged NNPCL to resist any attempts to revert to the practices of the past, which were characterized by corruption, inefficiency, and a lack of transparency. “NNPCL must never return to the days of the locusts, when the then NNPC was synonymous with corruption and mismanagement. The company must continue to build on its recent successes by strengthening its capacity for transparency, accountability, and operational efficiency,” HURIWA warned.

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In addition, HURIWA called on NNPCL to implement measures that will further enhance its financial reporting and governance practices. The group stressed the importance of maintaining a culture of transparency across all levels of the company’s operations, including its dealings with stakeholders and the general public. “NNPCL must ensure that its commitment to transparency and accountability is institutionalized. This requires continuous improvement in its financial reporting processes, as well as a proactive approach to engaging with stakeholders and addressing any concerns that may arise,” HURIWA advised.

The human rights group also expressed hope that NNPCL’s transparency and accountability will set a positive example for other government-owned enterprises in Nigeria. HURIWA urged other state-owned entities to emulate NNPCL’s approach to corporate governance, particularly in the areas of financial reporting and stakeholder engagement. “NNPCL has set a high standard for transparency and accountability, which other government-owned enterprises should strive to meet. We believe that adopting similar practices will contribute to the overall improvement of Nigeria’s public sector,” HURIWA concluded.

Looking ahead, HURIWA expressed confidence in NNPCL’s ability to sustain its profitability and achieve its production targets. The organization noted the company’s ambition to reach 2 million barrels per day of crude oil production by December 2024, as outlined by NNPCL’s Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan. HURIWA acknowledged that this goal, if achieved, would further enhance Nigeria’s energy security and economic stability.

In conclusion, HURIWA reaffirmed its support for NNPCL’s ongoing reforms and urged the company to remain committed to its principles of transparency, accountability, and operational excellence. The organization reiterated that NNPCL’s transformation is a testament to the positive impact of good leadership and sound governance, and called on all stakeholders to continue supporting the company’s efforts to build a brighter future for Nigeria’s petroleum industry.

HURIWA applauds NNPCL’s transparency, accountability in 2023 financial report

Related Topics:financial report HURIWA NNPCL

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Abuja Demand Rises as Jetour Brings X70 Plus Experience to FCT

Published

7 hours ago

September 20, 2026

Trends Admin

Abuja Demand Rises as Jetour Brings X70 Plus Experience to FCT

Jetour Nigeria is taking its seven-seater X70 Plus SUV to Abuja as rising interest from motorists in the Federal Capital Territory and neighbouring states fuels the brand’s latest push to deepen its presence across Nigeria.

The X70 Plus will headline the Jetour Experience Abuja, holding from September 22 to 24 at Maha Event Centre, Area 8, Garki, following the strong response recorded during the Lagos edition, where motorists turned out for test drives and made enquiries about Jetour models.

The Abuja activation is designed to give prospective buyers direct access to the X70 Plus and other models, with opportunities to test-drive the vehicles, engage product specialists and experience their technology, safety and comfort features.

The X70 Plus is positioned as a family-oriented SUV, offering seven-seat capacity and a range of features targeted at customers seeking comfort, technology and practicality.

The SUV is available with 1.5-litre and 1.6-litre turbocharged engine options, with outputs of up to 145kW and 290Nm of torque, paired with a dual-clutch automatic transmission.

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Its safety equipment includes front, side and curtain airbags, Vehicle Stability Control, Hill-Start Assist, Hill-Descent Control and a 360-degree panoramic camera with 2D and 3D viewing modes. Advanced Driver-Assistance Systems are also available.

Inside the cabin, the X70 Plus features a 10.23-inch LCD touchscreen, dual-zone climate control with air purification, wireless charging, a panoramic sunroof and an eight-speaker audio system.

Jetour Nigeria, the authorised distributor of the brand in the country, currently operates through seven accredited dealers: Elizade Nigeria Limited, Mandilas Autos, R.T. Briscoe Motors, Germaine Auto Centre, Kojo Motors, Tab Autos Limited and New Era Auto Vehicle Services Limited.

The company said the dealer network supports vehicle sales, genuine spare-parts supply and after-sales services across the country.

Jetour has also received recent industry recognition in Nigeria, including Fastest Growing Auto Brand by the Nigeria Auto Journalists Association and Auto Brand of the Year at the Nigeria Transport Lecture and Awards.

The Abuja experience is expected to provide prospective customers in the FCT and surrounding states with direct access to the X70 Plus and other Jetour models as the brand continues its national market expansion.

Abuja Demand Rises as Jetour Brings X70 Plus Experience to FCT

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Jetour Unleashes F700 Hybrid Pickup as Abuja Experience Begins Tuesday

Published

1 day ago

September 19, 2026

Trends Admin

Jetour Unleashes F700 Hybrid Pickup as Abuja Experience Begins Tuesday

Jetour is taking its premium pickup game to Abuja as the automaker prepares to showcase the powerful F700 hybrid pickup at the Jetour Experience Abuja, bringing a blend of electrified performance, luxury and rugged off-road capability to the Federal Capital Territory.

The three-day event, scheduled for September 22 to 24 at Maha Event Centre, Area 8, Garki, comes on the heels of strong reception in Lagos and is expected to draw commercial fleet operators, corporate buyers and luxury pickup enthusiasts keen to experience Jetour’s latest hybrid workhorse.

Following high-impact reception in Lagos, the Abuja activation, which holds at Maha Event Centre, Area 8, Garki, answers massive demand from commercial fleet leaders, corporate buyers, and luxury truck enthusiasts eager for an electrified workhorse built without compromise.

Jetour’s rapid ascendancy as Nigeria’s Fastest Growing Auto Brand and Auto Brand of the Year is backed by nationwide after-sales infrastructure, certified technicians, and genuine parts availability through its authorized dealer network including Elizade Nigeria Limited, New Era AutoVehicle Services, Germaine Auto Centre, Kojo Motors, Mandilas Autos, R.T. Briscoe and
Tab Autos.

The Ultimate Hybrid Powerhouse
Engineered on the heavy-duty platform of Jetour’s G700 luxury SUV, the double-cab F700 redefines utility.

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Stretching nearly 5.5 meters, it commands road presence via a high-tensile ladder-frame chassis and independent double-wishbone suspension engineered for punishing industrial demands and refined highway cruising alike.

Under the hood lies the revolutionary Kunpeng Super Hybrid CDM-O powertrain—pairing dual high-output electric drive motors with an onboard turbo petrol generator that seamlessly feeds the battery pack on the fly, eliminating range anxiety entirely.

According to Jetour, an advanced CATL 800V architecture surges the battery from 20% to 80% in just 10 minutes, achieving ultra-fast charging.

The vehicle delivers a monumental combined cruising range of up to 1,300 km on a single charge and tank, and achieves exceptional fuel economy, sipping as low as 1.39 L/100 km.

Conquering Terrain in First-Class Luxury
Engineered for unforgiving terrain, the F700 deploys Jetour’s intelligent XWD all-wheel-drive system governed by front, center, and rear mechanical differential locks.

With 9.5 inches of ground clearance and an imposing 900 mm water-wading capability, the F700 glides through deep water crossings, unpaved construction corridors, and rocky trails effortlessly.

Inside, the cabin abandons utilitarian compromises for bespoke executive refinement, featuring
35.4-inch Panoramic “Sky Screen” dominating the dash architecture.

Also, it features the 15.6-inch Central Command Touchscreen for seamless telematics and vehicle dynamics, Sculpted Luxury Finishes combining aviation-grade acoustic insulation, premium materials, and active driver-assist safety suites.

The three-day Jetour Experience Abuja will feature live technical walkarounds, rugged dynamic tests, and hands-on driving trials at the capital.

Jetour Unleashes F700 Hybrid Pickup as Abuja Experience Begins Tuesday

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26th Abuja Motor Fair: NADDC, BKG Set November 10 Date for Auto Industry Show

Published

2 days ago

September 18, 2026

Trends Admin

26th Abuja Motor Fair: NADDC, BGK Set November 10 Date for Auto Industry Showcase

The National Automotive Design and Development Council and BKG Exhibitions Ltd have unveiled plans for the 26th Abuja International Motor Fair, scheduled to hold from November 10 to 13, 2026, at Eagle Square, Abuja.

The four-day event is expected to bring together major players across the automotive value chain, such as vehicle manufacturers and assemblers, component producers, financial institutions, technology firms, transport operators, logistics companies, development partners, investors and government agencies.

A three-day conference will also feature prominently at the fair, with the theme, “Driving Nigeria’s Automotive Transformation: Policy, Production, and Prosperity.”

A statement on Friday by BKG Exhibitions said the conference would examine key issues shaping the development of Nigeria’s automotive industry, with speakers drawn from various sectors of the industry and related fields.

Chairman of the Organising Committee and Managing Director of BKG Exhibitions, Mr Ifeanyi Agwu, said the conference would feature a keynote address by the Director-General of NADDC, Otunba Joseph Osanipin, alongside presentations and speeches by leading stakeholders in the automotive and transport sectors.

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According to him, the fair will provide participants with opportunities to engage industry leaders, investors, government officials and business executives while exploring emerging vehicles, technologies, products and investment opportunities.

Other highlights of the event are the Nigeria Automotive Excellence Awards Night, Abuja Automotive Road Show, Ultimate Test-Drive experience, exotic automobile displays and the Automotive and Future Mobility Arena.

Visitors will also have access to professional advice, technical papers and a showcase of some of Abuja’s finest cuisine.

The Abuja International Motor Fair has, over the years, evolved into one of Nigeria’s major automotive exhibitions and platforms for industry and policy dialogue.

The organisers said this year’s edition would further strengthen the platform’s role in promoting investment, innovation, local production and sustainable growth across Nigeria’s automotive sector.