In a bid to seek effective coordination of the 2020-2022 medium-term fiscal frameworks, the Nigerian National Petroleum Corporation (NNPC) has collaborated with the Budget Office of the Federation to achieve its aim. This collaboration was disclosed through the website of the Budget Office of the Federation.
The collaboration was inaugurated through a meeting that teed-off at the NNPC Towers, having in attendance the Group Managing Director of the Corporation, Mallam Mele Kyari, and his top management team in parley with the Budget Office of the Federation led by the Director-General, Ben Akabueze and his team.
Why it matters: Commenting on the rationale behind the collaboration, The NNPC GMD opined that NNPC being a main enabler of the economy is prepared to collaborate with the Budget Office to further transparency and enhance prevailing sanity in reporting of oil and gas revenue remittances to the federation account.
What they are saying: Mallam Kyari said the parley marked the beginning of an extensive collaboration with the Budget Office to harmonize strategies geared towards ensuring optimization of resources aimed at improving the corporation’s revenue generation ability.
“As entity entrusted with the mandate of superintending over the nation’s vast hydrocarbon resources on behalf of the government and people of Nigeria, the NNPC must be open and accountable to all stakeholders,” Malami said.
Director-General of the Budget Office, Ben Akabueze noted that it was imperative to meet with the NNPC Management at top level to drill down on all issues and possible fiscal scenarios ahead of the 2020-2023 budgetary frameworks.
“The budget office is looking up to fruitful deliberations with the NNPC strategy team in the weeks and months ahead to smoothen the process of achieving a win-win fiscal regime,” Akabueze said.