Dublin, Ireland — Group Managing Director of the Nigerian National Petroleum Corporation, (NNPC), Mr. Mele Kyari, the legal adviser and seven group executive directors of the corporation, were all paid N3.307 billion as emoluments in 2021, according to data released recently by the corporation.
The NNPC, in its 2021 audited financial statements, reported that the emoluments of Kyari and other key management personnel of the NNPC Group in the year under review, rose significantly by 268.67 per cent from N897 million recorded in 2020.
The NNPC listed the key management personnel as Mele Kyari, who is the Group Managing Director; Mr. Usman Ajiya, Group Executive Director, Finance and Account/Chief Financial Officer; Engineer Adeyemi Adetunji, Group Executive Director, Downstream; and Mr. Mohammed Ahmed, Group Executive Director, Gas and Power.
The rest are, Mr. Adokiye Tombomieye, Group Executive Director, Upstream; Engineer Mustapha Yakubu, Group Executive Director, Refineries; Mrs. Aisha Ahmadu-Katagum, Group Executive Director, Corporate Services; Mr. Billy Okoye, Group Executive Director, Ventures and Business; and Emmanuella Arukwe, Secretary to the Corporation/Legal Adviser.
Giving a breakdown of their emoluments, the NNPC stated that short-term employee benefits, which included salaries and wages, allowances and welfare expenses, stood at N1.04 billion in 2021, compared with N655 million in 2020; while post-employment pension and medical benefits rose from N242 million in 2020 to N2.267 billion in 2021.
The total emoluments paid to Kyari and the other eight key management personnel in 2021, translate to average emolument of N367.44 million per annum for each of the personnel; this is an equivalent of N30.62 million per month.
Furthermore, apart from the executive management of the NNPC, the total employees of the corporation received total renumeration of N388.461 billion in 2021, according to the audited financial statements, dropping by 2.16 per cent compared with N397.017 billion in 2020.
Giving a breakdown of total staff salary, the NNPC disclosed that salaries and wages stood at N104.804 billion in 2021, compared with N112.046 billion in 2020; staff allowances rose from N68.425 billion in 2020 to N84.147 billion in 2021; while staff welfare expenses also grew from N212.298 billion in 2020 to N236.924 billion in 2021.
In addition, the NNPC reported that it spent N390 million on directors’ fees and expenses, compared with N214 million in the previous year; N12.056 billion was expended mon staff training/recruitment cost in 2021, as against N7.583 billion in the previous year; while management and facilitation fee dropped to N5.258 billion in 2021 from N5.664 billion in 2020.
Follow us on twitter