New Telegraph

JUST IN: NNPCL declares N674bn profit for 2021


Regina Otokpa, Abuja

The Nigerian National Petroluem Commission (NNPC) Limited, has declared a profit of N674 billion after tax, for the year 2021.

Group Chief Executive Officer (GCEO) of NNPCL, Mallam Mele Kyari, who made the declaration while briefing newsmen on Tuesday in Abuja, disclosed there was an increase of 134.8 percent YoY profit growth, compared to the N287billion profit recorded in 2020.

He further revealed an increase in total assets from N15.86 trillion in 2020, to N16.27 trilllion in 2021, with a 8.3 percent decrease in total liabilities from N14.68 trillion in 2020 to N13.46trillion in 2021.

The GCEO, who maintained that measures were being put in place with the help of security agencies and independent security outfits to curb the menace of crude oil theft, said the performance would have been much greater without vandalism, crude oil and products theft.

Details later…

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