The Nigerian National Petroleum Company Retail Limited, a retail component of the NNPC Limited group, earned N255.6 billion in revenue in its fiscal year 2022, according to data from the NNPCL downstream directorate’s report on important achievements in 2022.
As of Q3 (third quarter)2022, NNPC Retail Limited achieved a 6% year-on-year increase in total white product sales, N255.6bn revenue, N15bn EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation), and N14.14bn profit,” the report read.
It claimed that NNPC Retail completed the building of two standard stations in Kaduna and Kano states, as well as onboarded 71 new stations throughout the year, of which five were leased and 66 were affiliate stations.
The retail division of the national oil company completed phase one solar power project with three stations in Borno, Bauchi and Nasarawa states and carried out rehabilitation and facelift of 15 company-owned stations within the network.