Connect with us

Hi, what are you looking for?

News

NNPC Grows Profit to N674 Billion in 2021

The Group Chief Executive Officer, Nigerian National Petroleum Company Limited, Mele Kyari, on Tuesday announced that the NNPC as a corporation grew its profit after tax from N287bn in 2020 to N674bn in 2021, Punch reports.

Kyari, who disclosed this at a press conference in Abuja, said the 2021 profit was contained in the Group Audited Financial Statement of the oil firm for the year ended December 31, 2021.

He said, “In September 2021, Mr. President graciously approved the publication of the 2020 NNPC Group Audited Financial Statement, in which NNPC declared a profit after tax of N287bn for the first time in its 44 years.

“Despite our challenging operating environment, we strongly believe that NNPC has the potential to sustainably deliver better value to its esteemed shareholders.

“Today I am happy to announce that the Board of NNPC Limited has approved 2021 audited financial statements, and NNPC progressed to a new performance level, from N287bn profit in 2020 to a N674bn profit after tax in 2021, climbing higher by 134.8 per cent year-on-year profit growth.”

Details later…

____

Follow us on Twitter at @thesignalng

Copyright 2022 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to  www.signalng.com and other relevant sources.

Click to comment

Leave a Reply

Your email address will not be published.

Advertisement

Related

News

The ongoing fuel scarcity that has affected some states across Nigeria for weeks is as a result of diversion of petrol meant for distribution...

News

The cost of Premium Motor Spirit, popularly called petrol, has risen to as high as N200/litre at depots, which means that motorists should brace...

News

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, says the NNPCL is not owing Nigeria, but the country...

News

Nigeria is losing at least N32bn daily due to the shutdown of three crude oil export terminals with a combined capacity of 580, 000...

Copyright ©