NNPCL Reports Record N3.29 Trillion Profit for 2023

The Nigerian National Petroleum Company Limited (NNPCL) has announced a profit of N3.29 trillion for the financial year 2023, marking a significant milestone in the company’s history. The declaration was made by the Chief Financial Officer (CFO), Umar Ajiya, during the presentation of the 2023 Audited Financial Statement in Abuja.

Ajiya highlighted that the 2023 profit represents a 28% increase compared to the N2.54 trillion recorded in 2022. The company’s profitability has shown remarkable growth over the years, rising from N674.1 billion in 2021, N287.0 billion in 2020, and overcoming losses of N1.7 billion in 2019.

“This 28% growth from N2.54 trillion to N3.29 trillion is a testament to the dedication and hard work of the NNPCL management and staff, who have ensured the company remains on a sustainable and growth-focused path,” Ajiya stated. He emphasized that the 2023 profit is the highest ever recorded since the company’s inception, attributing it to NNPCL’s strategic 12-point agenda.

More to follow…..