President Muhammadu Buhari saying that he is pleased has expressed satisfaction over the declaration of Two Hundred and Eighty Seven Billion Naira (N287 Billion) profits after tax made by the Nigerian National Petroleum Corporation, NNPC.
Focus Naija can report that President Buhari took to his official social media page to commend the NNPC’s declaration of profits which is the first time in 44 years of it’s existence.
According to the Commander-in-Chief, completion of statutory Annual Audit exercise carried out in 2020, helped the corporation to reduce loses from N803 Billion and N1.7 Billon recorded in the year 2018 and 2019 respectively.
Congratulating the Board, Management and Staffs of the Corporation, he directed a timely publication of the corporation’s Audited Financial statements in line with best practices.
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Muhammadu Buhari
I am pleased to announce the declaration of Profit after Tax of Two Hundred and Eighty Seven Billion Naira (N287 Billion) in Year 2020 by the Nigerian National Petroleum Corporation NNPC.
This is sequel to the completion of the statutory Annual Audit exercise for Year 2020. The NNPC losses were reduced from N803 Billion in year 2018 to N1.7 Billion in year 2019 and the eventual declaration of Net Profit in Year 2020 for the first time in its 44-year history.
This development is consistent with this administration’s commitment to ensuring prudent management of resources and maximization of value for the Nigerian people from their natural resources.
I have further directed the Nigerian National Petroleum Corporation to timely publish the Audited Financial statements in line with the requirements of the law and as follow up to our commitment to ensuring transparency and accountability by public institutions.
I congratulate the Board, Management and Staff of the Corporation and look forward to greater value creation for the Nigerian people