This study examined corporate governance and accountability in public enterprises, with particular emphasis on the Nigerian National Petroleum Company Limited (NNPCL) following the enactment of the Petroleum Industry Act (PIA) 2021. The study was motivated by the historical challenges of opacity, revenue mismanagement, political interference, operational inefficiency, and weak accountability that characterized the former Nigerian National Petroleum Corporation (NNPC). Specifically, the study examined the corporate governance frameworks and institutional changes introduced by the PIA 2021, assessed the impact of the commercialization of NNPCL on accountability and transparency, evaluated the effectiveness of the reforms on financial and operational performance, and identified the challenges affecting the full implementation of effective governance and accountability. The study adopted a documentary research design and relied exclusively on secondary data obtained from the Petroleum Industry Act, NNPCL audited financial reports, NEITI reports, policy documents, academic publications, and credible industry reports. Data were analyzed using qualitative content and thematic analysis, complemented by descriptive and econometric analysis using the Vector Error Correction Model (VECM). The findings revealed that the PIA 2021 significantly transformed NNPCL's governance structure by converting it into a commercially oriented limited liability company with improved institutional and operational frameworks. The study found improvements in transparency through the publication of audited financial statements and collaboration with NEITI, alongside a substantial reduction in crude oil losses. The econometric results further showed a positive relationship between corporate governance and profitability, while crude oil losses had a negative effect on the company's financial performance. Despite these improvements, challenges relating to political interference, regulatory and legal uncertainties, and the sustainability of transparency reforms remain. The study concludes that the post-PIA corporate governance and accountability reforms have contributed positively to the performance and transformation of NNPCL. [...]
- Citation du texte
- Peter Ellah (Auteur), 2026, Corporate Governance and Accountability in Public Enterprises, Munich, GRIN Verlag, https://www.grin.com/document/1764016
