NNPC Reveals Surge in Directors' Pay Amidst N5.4 Trillion Profit

The Nigerian National Petroleum Corporation (NNPC) disclosed a surge in directors' fees to N4.096 billion in 2024, representing a 58% increase from the previous year, alongside a profit of N5.4 trillion. Notable figures include Dr. Piu O. Akinyelure and Mallam Mele Kyari serving as key executives.

Despite the rise in board expenses, total compensation for top management slightly decreased in 2024. The report also noted zero employee resignations for the second consecutive year, with staff exits mainly due to mandatory retirement.

The NNPC attributed the figures to expenses recognized during the reporting period, emphasizing improved welfare packages for employees.