The Nigerian National Petroleum Corporation Limited forecasted on Thursday that its profit for the 2022 fiscal year will exceed N674 billion due to increased efforts to make this a reality during the fiscal year.
This information was provided at a sensitization workshop on “Understanding the NNPC Limited Post-PIA” that the oil firm hosted in Abuja for the National Association of Nigerian Students.
NNPCL’s Chief Corporate Communications Officer, Garba-Deen Mohammad, who was speaking on behalf of the company, revealed that by reporting a profit of N287 billion in 2020, the company was able to break a 44-year financial loss record.
It went from a loss of N800 billion in 2020 to N287 billion. NNPCL declared in October 2022 that it increased its profit after taxes and assets from N287bn and N15.86tn in 2020, to N674bn and N16.3tn in 2021, respectively.
On the essence of the workshop, Mohammad explained that it was organised in collaboration with the civil society to sensitise Nigerian students on the operations of NNPCL.”This sensitisation programme with students of Nigerian tertiary institutions is one of the steps that NNPCL is taking in order to establish a connection with the leaders of tomorrow.