R.E.V.E.A.L.E.D: NNPC’s staff receive N357bn as salary in one year

NNPC blames #ENDSARS protests, as fuel queues return…Corporation has 6,621 employees as at April 2020

…Emolument averaged N54m per employee

By Michael Eboh

Staff of the Nigerian National Petroleum Corporation, NNPC, received N357.098 billion as salaries, wages and other benefits in 2019, according to the corporation’s recently released audited financial statement.

The NNPC Group had disclosed that its staff strength, as at April 20, 2020, stood at 6,621, both at its headquarters and across all its subsidiaries, division and offices nationwide. The NNPC has 13 divisions and Strategic Business Units, SBU, nationwide.

Though the NNPC recruited 1,050 new employees, February 2020, a number of senior management staff of the NNPC were also disengaged earlier in the year.

According to the NNPC, in its 2019 audited financial statement, the emoluments of the staff in 2019 was an increase of N14.74 billion or an appreciation of 4.3 per cent from N342.36 billion paid to the staff in 2018.

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The N357.098 billion, if divided among the 6,621 staff of the NNPC, translates to an average salary of N53.93 million per employee in 2019.

In addition, the NNPC paid N91.336 billion to the government as income tax in 2019; and N74.177 billion as interest on loans in the same year.

However, staff of the NNPC alone — not including employees of other subsidiaries — received N103.7 billion as salaries, wages and other benefits in 2019,   an increase of 13.26 per cent compared with N91.56 billion recorded in 2018.

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The NNPC Group had also stated that 27.2 per cent of its total workforce, comprising 1,801 staff are currently employed in the Corporate Headquarters.

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To this end, from the N103.7 billion, an average staff of the NNPC’s corporate headquarters received N57.58 million as salary, wages and other benefits in 2019.

NNPC’s workforce

In addition, the NNPC had stated that 13 per cent of the group’s total workforce were employed in the Nigerian Pipelines and Storage Company (NPSC); while 758 individuals are currently employed in the moribund Kaduna Refining and Petrochemical Company, KRPC, representing 11.4 per cent of the NNPC Group’s total workforce.

The Port Harcourt Refining Company, PHRC, which is currently shut down and awaiting revamp, has 655 staff; Nigerian Petroleum Development Company, NPDC, 550 staff; the moribund Warri Refining and Petrochemical Company, WRPC, has 485 staff; NNPC’s commercial and investment subsidiary, National Petroleum Investment Management Services, NAPIMS, has 426 staff; while the corporation’s downstream subsidiary, the Petroleum Products Marketing Company, PPMC, has 255 staff.

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In addition, the document noted that Nigerian Gas Company, NGC, has 254 staff; Integrated Data Services Limited, 175 staff; Crude Oil Marketing Division of the NNPC and Nigerian Gas Marketing Company, NGMC, 152 staff each; while National Engineering and Technical Company Limited (NETCO) has 64 staff in its employ.

The NNPC had in its report of compliance to the Extractive Industries Transparency Initiative’s (EITI) Open Data requirements, revealed that 81.7 per cent of its workforce, comprising 5,410 individuals, were male, while 1,211 were women, representing 18.3 per cent of its total staff strength.

Vanguard

The post R.E.V.E.A.L.E.D: NNPC’s staff receive N357bn as salary in one year appeared first on Vanguard News.

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