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…

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