NNPCL declares N3.3tr profit for 2023 financial year

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has declared a N3.3 trillion profit for the 2023 financial year.

Chief Financial Officer of NNPC Ltd, Umar Ajiya who addressed newsmen on Monday on the development, said this was the highest profit declared by the company since inception.

Meanwhile, NNPC Ltd. has declared N2.101 trillion as a dividend for the 2023 financial year.

The News Agency of Nigeria (NAN) reports that the profit declared by the national oil company for 2023 is over N1 trillion higher than the N2.548 trillion profit it recorded in the 2022 financial year.

Our fiscal performance reflects both strategic foresight and operational resilience. Despite inherent challenges of our operational and economic environment, we have improved the productivity and the financial performance of this great company,” Ajiya stated.

Ajiya added that posting such impressive returns demonstrates NNPC Ltd’s commitment to sustaining profitability and supporting the attainment of national energy security as stipulated by the Petroleum Industry Act (PIA) 2021, and by extension, as expected by the Company’s shareholders