Top executives of the Nigerian National Petroleum Company (NNPCL) Limited including Mele Kyari and Chief Financial Officer (CFO), Umar Ajiya shared a whooping N3.051 billion as emoluments in 2023.
This is according to NNPC’s audited statement for the 2023 financial year, which stated that the amount for that purpose was 133.26 per cent higher than the N1.308 billion they received in 2022.
According to the quoted financial statements, NNPCL’s total workforce stood at 5,710 individuals as of the end of 2023, comprising 4,648 males and 1,062 females.
The audited results revealed that the seven senior executive members of NNPC Limited received an average emolument of N435.86 million in 2023, translating to an average of N36.32 million per month.
According to a report monitored on Business Post, Kyari, Ajiya, alongside the General Counsel/Company Secretary, Chidi Momah; Executive Vice Presidents in charge of Gas, Power and New Energy, Olalekan Ogunleye, Oritsemeyiwa Eyesan, in charge of Upstream; Adedapo Segun, executive vice president in charge of downstream and Danladi Inuwa, executive vice president in charge of business services received the amount.
The state oil firm paid N583.797 billion to its 5,710 staff as salaries, wages, and other benefits in 2023, rising by 118.71 per cent from N266.933 billion in 2022.
The NNPC stated that salaries and wages rose by 207.91 per cent to N226.873 billion in 2023, from N73.681 billion in 2022; while staff allowances rose sharply by 208.91 per cent, from N58.215 billion in 2022 to N179.83 billion in 2023.
In addition, staff welfare expenses doubled, rising by 109.26 per cent to N77.193 billion in 2023, from N36.889 billion in 2022.
The average staff salaries and wages for the year come to N39.73 million, which is N3.31 million per month; average staff allowances for the year were N31.5 million, translating to N2.62 million per month.
In addition, average staff welfare expenses for the year stood at N13.52 million for each staff, translating to N1.13 million per month. Generally, NNPC staff received an average of N7.06 million per month in emoluments.
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