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. 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. Putting it in context, the N357.098 billion salary of NNPC staff is more than the 2020 budgets of three south-east states – Enugu, Anambra and Imo states — combined, which is N350.3 billion.

Specifically, the 2020 budget of Enugu, Anambra and Imo states is N146.4 billion, N114.9 billion and N89 billion respectively. In addition, the salary of NNPC’s staff is higher than Delta State’s 2020 budget of N282 billion; Kano, Kaduna, Borno and Sokoto’s budgets of N206.27 billion, N259.25 billion, N108.8 billion and N153 billion respectively; while the 2020 budget of Edo, Rivers and Abia states were N128.8 billion, N300.37 billion and N102.6 billion respectively. The salary is also higher than the N127.36 billion, N131.74 billion and N152.77 billion earmarked for capital expenditure in the proposed 2021 budget for the Federal Ministry of Education, Federal Ministry of Health and Federal Ministry of Water Resources, respectively.

It is also higher than the N256.89 billion, N198.28 billion, N89.97 billion N64.84 billion and N10.19 billion budgeted for capital expenditure in the proposed 2021 budget for the ministries of Transport, Power, Aviation, Science and Technology, and Mines and Steel Development, respectively. Furthermore, in the 2019 financials, the NNPC said it 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.

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


Read more at: https://www.vanguardngr.com/2020/11/e-x-p-o-s-e-d-nnpcs-staff-receive-n357bn-as-salary-in-one-year/

And yet over 50% of the population lives from hand to mouth.

The problem of these country is deep.

After National Assembly, this is another sector people are not talking about.

Education budget for the entire country is 46bn

ASUU still on strike and govt does not care.

Hmmh! Isorrite!

This Country will die a natural death one day, all of us will see it

!

very big and huge lies with concorted values but I guess dats wat average Nigerians love to hear
53 million indeed bunch of chronic liars

Zionmdde:
very big and huge lies with concorted values
but I guess dats wat average Nigerians love to hear

53 million indeed
bunch of chronic liars

Don't doubt too much. Everything is possible in this country.

HeRulesMen:

Don't doubt too much. Everything is possible in this country.

I dont need to doubt wat I know already. we lie too much in this country. i know a lot of full staffs there.

Zionmdde:

I dont need to doubt wat I know already.
we lie too much in this country. i know a lot of full staffs there.

Since you know, tell us how much na

Ha ..
This better be a joke ooo..

How can staffs pocket salaries that's enough to
Fund some states budgets...


Thread seen...

Zionmdde:

I dont need to doubt wat I know already.
we lie too much in this country. i know a lot of full staffs there.

so where's the money going to.

Only in nigeria

Same NNPC under which none of the nation's refineries are working even @ 50% capacity but instead have been turning out losses, incurring TAM & other stupendous overhead costs? What are they being paid for-supervising the subsidy business? NNPC just needs to be privatized

NNPC needs to go, it's a total waste and a centre for corruption.

We know Buhari loves oil very well

The perversion, injustice and morbid dysfunction in Nigeria stinks to high heavens.

To think that 99% of those Adamu-mus employed there are clueless and unworthy bastards who got there strictly via nepotism and corruption. Some of them don't even know the difference between upstream and downstream, and most of them have probably never heard of shale oil, but they are there answering NNPC staff, and feeding fat at the expense of the rest of the country.

Naija setup na scam

It must be reevaluated

Everybody wants to receive jumbo pay for activity like our leaders in Abuja. No more emphasis on productivity but activity with mega pay. Nigeria was set up for wealth transfer and such news don't surprise me. ASUU too want increased funding and autonomy to earn it all as salary just like our representatives in Abuja.

Another National Assembly. For those disputing that the figures are hyped, hope you read where they said Audited Account?

The folks in their Corporate Headquarters shop for cars every year's end with allowances you can't even imagine.