₦airaland Forum

NNPC Limited has reported a net profit of N3.297 trillion for the financial year concluding December 2023, reflecting a 28% rise compared to the N2.548 trillion profit achieved in 2022.

On Monday, Chief Corporate Communications Officer Olufemi Soneye announced that this milestone, representing the pinnacle of success in the company's 46-year history, was revealed at a global press conference held at the NNPC Towers in Abuja.

The statement said, “The NNPC Limited has released its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, an increase of over N700billion (28%) when compared to the 2022 profit of N2.548trillion.”

Ok let’s say we believe them, Congratulations!!

N3 trillion is about 2 billion dollars, so we don’t need the N500 million dollars we’re about to borrow from world bank to support our new health initiative, right?

Propaganda no de tire una? How do these things even make sense to Agbadorians?

All na wash....cos Buhari and his Fulani thieves own the same profits that Tinubu will definitely use for subsidy payments

Was the $3.3bn loan counted as assets or liabilities and at what exchange rate?

Also, what happened to CBN handling their receipts this one dey are declaring profits without CBN approval

Kukutenla:
Was the $3.3bn loan counted as assets or liabilities and at what exchange rate?

Also, what happened to CBN handling their receipts this one dey are declaring profits without CBN approval

Consult your accountant...stop disgracing yourself

blamingthedevil:
Consult your accountant...stop disgracing yourself

Do you understand what I'm pointing at or you want to blame your teacher?

Meanwhile, same NNPCL have borrowed more than that to be paying overhead costs of maintaining unproductive refineries and workers. PH refinery resumption date have been repeatedly shifted like tomorrow no dey.

Loot will soon finish it

Even without declaring profit. NNPC makes more by selling foreign exchange and currency tripping. NNPC should be banned from receiving money directly without CBN records of their transactions

My question becomes why declare profit in Naira when the majority of the trade is in foreign exchange?

Kukutenla:
Do you understand what I'm pointing at or you want to blame your teacher?

Consult your accountant

blamingthedevil:
Consult your accountant

Go back to school

NNPCL should be disbanded. All refinery staff should be sacked