The Nigerian National Petroleum Company Ltd (NNPCL) has achieved a profit after tax of N3.3 trillion for the 2023 financial year.
On Monday, Chief Pius Akinyelure, Chairman of the NNPC Ltd Board, disclosed this news during a media briefing.
Akinyelure, pioneer Vice Chairman of Nigeria’s ruling party – the All Progressives Congress, said the company’s audited financial statement demonstrated remarkable profitability.
The figure reflects a significant increase of N749 billion from the N2.54 trillion reported in the previous financial year, 2022.
Additionally, the company has announced a dividend of N2.1 trillion for its shareholders.
In her remarks at the briefing, the Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan said with improvements witnessed as a result of the renewed vigour in the war against crude oil theft and pipeline vandalism, NNPC Ltd is targeting 2million barrels per day crude oil production by the the end of the year.
On the current fuel queues in parts of Lagos and the FCT, the Executive Vice President, Downstream, Mr. Dapo Segun appealed for understanding from Nigerians, saying that the the Company is working with relevant stakeholders to address the distribution, evacuation and logistics challenges.
It would be recalled that in 2021, NNPC declared profit in its operations for the first time. From a loss position of N803 billion in 2018, it reduced the loss further down to N1.7 billion in 2019.
