NNPC posts net profit of N2.5 trillion in 16 months
Nigerian National Oil Business Limit checked in A profit After tax of N2.5 thousand billion For THE 16 month has December 2022, It is last checked finance show.
THE new report breaks far Since THE previous tradition that together THE annual financial year END of THE oil farm has around August, with subsequent finance likely has follow A 12 months ride a bike END on 31 December as most businesses.
Income For THE period stood has N8.8 a thousand billion, more that half of that provided by product Since refined oil product sales.
Again, THE contribution of that income source would be to have has been bigger if not For THE exhausting effect of PMS Below Recovery, which accounts For THE species used For subsidize essence, on income.
THE business spent N2.4 thousand billion during THE period on fuel subsidies, which President Bolas Tinubu abolished has her inauguration last Can because he had has been A big emptying on THE Governments handbag.
Fuel subsidies were THE Single the biggest costs incurred by NNPC during THE period, alone accounting For 35.8 by hundred of THE cost of sales.
Below general And administrative expenses which totalized N1.7 a thousand billion, THE cost describe as "other expenses" remains A gray area need further clarification Since THE business, given It is importance as THE the biggest cost In This section, swallow as a lot as N496.4 billion.
Profit Before tax For THE period stood has N1.8 trillion.
ALSO READ: NNPC look for private the operators For Port Harcourt refineryTHE band accomplished N2.2 thousand billion Since exchange differences In translation of stranger the operations, do possible by increase value Since earnings In stranger currencies After conversion has naira.
NNPC issued It is First of all checked accounts For THE First of all time In 43 years In 2020 And transitioned In A limit responsibility business two years later as part of efforts has free THE monolithic business Since government control.
It is push has become A publicly negotiated business has blocked After missing THE target has launch It is initial public offer last year.
Independent Listener PWC did not increase any of them key Audit issue In It is report attached has THE document.
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Nigerian National Oil Business Limit checked in A profit After tax of N2.5 thousand billion For THE 16 month has December 2022, It is last checked finance show.
THE new report breaks far Since THE previous tradition that together THE annual financial year END of THE oil farm has around August, with subsequent finance likely has follow A 12 months ride a bike END on 31 December as most businesses.
Income For THE period stood has N8.8 a thousand billion, more that half of that provided by product Since refined oil product sales.
Again, THE contribution of that income source would be to have has been bigger if not For THE exhausting effect of PMS Below Recovery, which accounts For THE species used For subsidize essence, on income.
THE business spent N2.4 thousand billion during THE period on fuel subsidies, which President Bolas Tinubu abolished has her inauguration last Can because he had has been A big emptying on THE Governments handbag.
Fuel subsidies were THE Single the biggest costs incurred by NNPC during THE period, alone accounting For 35.8 by hundred of THE cost of sales.
Below general And administrative expenses which totalized N1.7 a thousand billion, THE cost describe as "other expenses" remains A gray area need further clarification Since THE business, given It is importance as THE the biggest cost In This section, swallow as a lot as N496.4 billion.
Profit Before tax For THE period stood has N1.8 trillion.
ALSO READ: NNPC look for private the operators For Port Harcourt refineryTHE band accomplished N2.2 thousand billion Since exchange differences In translation of stranger the operations, do possible by increase value Since earnings In stranger currencies After conversion has naira.
NNPC issued It is First of all checked accounts For THE First of all time In 43 years In 2020 And transitioned In A limit responsibility business two years later as part of efforts has free THE monolithic business Since government control.
It is push has become A publicly negotiated business has blocked After missing THE target has launch It is initial public offer last year.
Independent Listener PWC did not increase any of them key Audit issue In It is report attached has THE document.
Support PRIME TIMES' journalism of integrity And credibility
GOOD
journalism
costs
A
plot
of
money.
Again
only
GOOD
journalism
can
ensure
THE
possibility
of
A
GOOD
Company,
A
indebted
democracy,
And
A
transparent
government.
For
continued
free
to access
has
THE
best
investigator
journalism
In
THE
country
We
ask
You
has
consider
manufacturing
A
modest
support
has
This
noble
effort.
By
contributing
has
PRIME
TIMES,
You
are
portion
has
sustain
A
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And
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