NNPC Declares N674bn Profit after Tax for 2021 Financial Year

Emmanuel Addeh in Abuja 

The Nigerian National Petroleum Company (NNPCL) on Tuesday declared a Profit After Tax (PAT) of N674 billion for the 2021 financial year.

The amount is 134.8 per cent higher than the N287 billion announced by the company in 2020.

The Group Chief Executive Officer, NNPCL, Mallam Mele Kyari, who made the declaration in Abuja Tuesday, stated that the profit was driven by the company’s activities in the upstream as well as gas and power.

He also announced that the shareholders’ fund position grew to N2.81 trillion, an increase of 144 per cent.

Details later…