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For the second year in a row, the Nigerian National Petroleum Company (NNPC) Limited on Tuesday declared a profit after tax of N674bn.
The Group Chief Executive Officer of NNPC, Mele Kyari, in Abuja said the NNPC as a corporation grew its profit after tax from N287bn in 2020 to N674bn in 2021.
“Today I’m happy to announce that the Board of NNPC has approved 2021 audited financial statements and NNPC has progressed to a new performance level, from N287bn profit in 2020 to N674bn profit after tax in 2021, climbing higher by 134.8% YoY profit growth.”
Kyari also said the scale of oil theft in the Niger Delta is unprecedented in Nigeria’s history and as led to mass disruption in the upstream activities of the company.
He said the oil spill in the Bodo community of Rivers State has led to the Nembe pipeline which is making the country loose over 100,000 barrels per day
The NNPC GCEO lamented that despite the investment of the company in securing the area, hundreds of illegal refineries are operating in the Niger Delta.
