Nigerian National Petroleum Company Limited (NNPC) has revealed a record-breaking net profit of ₦3.297 trillion for the financial year ending Decemb
Nigerian National Petroleum Company Limited (NNPC) has revealed a record-breaking net profit of ₦3.297 trillion for the financial year ending December 2023.
According to NNPC, it has set an ambitious target of reaching 2 million barrels per day in crude oil production by the end of December 2024.
At a press conference held at the NNPC Towers in Abuja, Mr. Umar Ajiya, the Chief Financial Officer of NNPC Ltd, attributed the impressive financial performance to the company’s strategic foresight and operational resilience.
“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.
“The Company is working with relevant stakeholders to address the distribution, evacuation and logistics challenges,” Ajiya stated.
The release of the 2023 Audited Financial Statement (AFS) has shown a continued positive trend for NNPC, following a remarkable turnaround from previous years.
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