The Nigerian National Petroleum Company Limited, NNPC Ltd., has announced a N3.3 trillion profit for the 2023 financial year.
Umar Ajiya, Chief Financial Officer of the company, on Monday made this known to newsmen in Abuja, adding that it was the highest profit the company has ever declared since inception.
The company, in 2021, declared profit in its operations for the first time. N803 billion loss in 2018, which was refuced to N1.7 billion in 2019, NNPCL recorded its ‘first ever’ profit of N287 billion in 2020.
The profit rose in 2021, to N674.1 billion and to N2.548 in 2022. The steady climb saw the oil company improving further in 2023 when it declared the N3.3 trillion profit that is over N1 trillion higher than the profit it recorded in the 2022 financial year.
Meanwhile, NNPC Ltd. has declared N2.101 trillion as a dividend for the 2023 financial year.
