The Nigerian National Petroleum Corporation (NNPC) is a state-owned oil corporation established in 1977 and the largest asset holder within the Nigerian oil and gas industry. In addition to exploration activities, the corporation has operations in refining, petrochemicals, products transportation and marketing. NNPC has three refineries, in Port Harcourt, Warri and Kaduna, and strategic business units focused on exploration and production, gas development, distribution, engineering and commercial investments. NNPC is currently transforming from a traditional oil and gas company into an integrated energy company with interests in power generation and transmission.
In November 2019, NNPC committed to become an EITI supporting company and also to become a member of the EITI’s state-owned enterprise (SOE) transparency network. NNPC has developed and is implementing an action plan to meet the Expectations for EITI supporting companies. It is working to systematically disclose data required under the EITI Standard.
As part of Nigeria’s commitments as an EITI implementing country, NNPC has been working closely with the Nigeria Extractive Industries Transparency Initiative (NEITI), providing data for yearly NEITI Reports. NNPC is also working with NEITI and the EITI to further improve on SOE transparency and has made progress in systematically disclosing data required under the EITI Standard.
The corporation has created an EITI page on its website through which it has publicly shared data on the volume of crude oil and gas production on a month by month basis. In June 2020, NNPC published the audited accounts for 20 of its subsidiaries. In October 2020, NNPC published its group-level audited financial statement for the first time in the corporation’s 43-year history.
In 2019, NNPC renewed its focus on the fundamental principles of Transparency, Accountability and Performance Excellence (TAPE), driving transparency and accountability across the oil and gas sector both nationally and globally. The corporation also launched two tools to fight corruption: the NNPC Code of Conduct and the NNPC Tip Portal. The NNPC Code of Conduct serves to communicate the expected ethical standards and standards of conduct required of all staff and contractors in every segment of the company’s operations. The NNPC Tip Portal is the channel that enables staff and other stakeholders to report unethical conduct involving or affecting NNPC.