NNPC Posts Record Profit of 2.5 Trillion Naira in Latest Financial Year
The Nigerian National Petroleum Company Limited has reported a record profit of N2.5 trillion, a dramatic turnaround from years of losses attributed to the removal of fuel subsidie...
The Nigerian National Petroleum Company Limited has reported a record profit of N2.5 trillion, a dramatic turnaround from years of losses attributed to the removal of fuel subsidies and improved operational efficiency.
Group Chief Executive Mele Kyari noted that NNPC had also reduced its debt from N8 trillion to N4.2 trillion through asset monetisation and improved cash management.
The company declared a dividend payment to the federation of N800 billion, the largest ever payment from the national oil company to government coffers.
Analysts said the improved performance positioned NNPC as a credible partner for international oil companies.
0 Comments