NNPC generate profits under President Buhari’s watch after 44 years


NNPC generate profits under President Buhari’s watch after 44 years
The Nigerian National Petroleum Corporation NNP has reportedly generate more profit after paying of over N2 billion.

Nigeria President Muhammed Buhari made this know through his verified social media handle on Thursday 26th of August 2021. The statement reads below;

I am pleased to announce the declaration of Profit after Tax of Two Hundred and Eighty Seven Billion Naira (N287 Billion) in Year 2020 by the Nigerian National Petroleum Corporation NNPC.

This is sequel to the completion of the statutory Annual Audit exercise for Year 2020.

The NNPC losses were reduced from N803 Billion in year 2018 to N1.7 Billion in year 2019 and the eventual declaration of Net Profit in Year 2020 for the first time in its 44-year history.

This development is consistent with this administration’s commitment to ensuring prudent management of resources and maximization of value for the Nigerian people from their natural resources.

I have further directed the Nigerian National Petroleum Corporation to timely publish the Audited Financial statements in line with the requirements of the law and as follow up to our commitment to ensuring transparency and accountability by public institutions.

I congratulate the Board, Management and Staff of the Corporation and look forward to greater value creation for the Nigerian people.

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3 months ago

[…] the Presidential applause for the Nigerian National Petroleum Corporation (NNPC) on its posting of ₦287bn profit […]

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