The Nigerian National Petroleum Company Limited, NNPCL on Monday announced a 28 per cent rise in annual net profit to N3.297 trillion ($2.14 billion) and declared a dividend.
“Despite inherent challenges of our operational and economic environment, we have improved the productivity and the financial performance of this great company,” Chief Financial Officer Umar Ajiya said.
The NNPCL declared a dividend of N2.1 trillion and said it would announce its initial public offering plans once shareholders and the board give their approval.
The NNPCL said it is targeting 2 million barrels per day crude oil production by the end of the year, following improvements in the war against crude oil theft and pipeline vandalism.
Earlier this month, the Chief of Naval Staff, Emmanuel Ikechukwu Ogalla said the Nigeria’s oil output had risen to between 1.6 million and 1.7 million barrels per day after the government beefed up security to curb crude theft
The NNPCL has grown profitable since 2020 when it posted its first ever profit. It posted a loss in 2018 and 2019 following its transition to a commercial entity, in a move the government has said would deliver profits and accountability.
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Announcements AnnouncementsIMPOUNDED VEHICLES & BAGS OF RICE & OIL THEIR AUCTION PRICES:- A BAG 19,000 OIL 13,000 CALL FOR MORE DETAILS (O8O__6739__9O9O )
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Toyota Camry muscle 1M
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Toyota Tacoma ₦1.5M
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Honda Crosstour 2.5M
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Lexus RX330 ₦1M
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BMW 3-Series ₦950,000
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BMW X5 ₦1.5M
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Infiniti QX4 ₦1.3m
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Mercedes-Benz E-Class ₦900,000
Mercedes-Benz GLK ₦2.5 m
Mercedes-Benz ML320 ₦1.1 m
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Nissan Armanda ₦1.5M
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