Petroleum minister and AuGF agree to partner

Petroleum minister and AuGF agree to partner

Minister of State, Petroleum Resources, Dr. Ibe Kachukwu, and the Auditor-General for the Federation (AuGF), Mr. Anthony Mkpe Ayine, have pledged cooperation even as they harped on the need for operational and accounting transparency within government’s institutions in the urgent task of boosting revenue and improving the economy in general.

Speaking in Abuja at the weekend while receiving the AuGF in his office, the minister identified the role of the Office of the Auditor-General of the Federation (OAuGF) as crucial to the achievement of the nation’s developmental goals.

He noted that audit remained an important element of governance, adding that the OAuGF had the onerous responsibility of ensuring that the Federal Government’ resources were well managed and utilized.

He explained that the management of the Nigerian National Petroleum Corporation (NNPC) intended to sustain its open door policy approach and would always be ready to engage and respond positively to issues raised by stakeholders to illuminate all perceived grey areas of its operations.

Kachukwu revealed that the ministry transformed from being a supervisory body to an income driving entity with over $10 billion revenue generating capacity, despite falling crude oil prices.

The minister assured him of full cooperation and access to its books for proper scrutiny, promising to involve the OAuGF whenever the ministry was auditing its joint ventures and subsidiaries.

 

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