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Among the highlights of the 2020 AFS is the Corporation’s group profit which rose from a loss position of N1.7 billion in 2019 to a profit Nnpc Publishes 2020 Audited Financial Statements of N287 billion in 2020, for the first time in 44 years. Following up on President Muhammadu Buhari’s recent announcement of the declaration N287 billion profit after tax in year 2020 by the Nigerian National Petroleum Corporation (NNPC), the Corporation has consolidated on the remarkable achievement, by publishing the Audited Financial Statements (AFS) on its official website. According to the statement, the Corporation’s group profit grew from a loss position of N1.7billion in 2019 to a profit of N287 billion in 2020, for the first time in 44 years. SaharaReporters.com is an outstanding, groundbreaking news website that encourages citizen journalists to report ongoing corruption and government malfeasance in Africa. On the issue of land administration, Garba defended Ganduje’s policies, stating that the former governor implemented systems to protect public assets and ensure lawful land management. “Assertions of land grabbing are inaccurate and unfairly tarnish the reputation of a leader committed to transparency,” Garba noted.

• The Nigerian National Petroleum Company (NNPC) Limited, in its 2023 Audited Financial Statement (AFS), has declared a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, translating to an increase of over 700 billion (28%) when compared to the 2022 profit of N2.548 trillion.
• While the government welcomes constructive criticism and lawful scrutiny, it will not hesitate to seek legal redress against those who persist in maligning its officials or attempting to incite the public with baseless allegations.
• It would be recalled that in 2021, NNPC declared a profit in its operations for the first time.
• As the media nurtures public conscience with truth and fact, the government urges credible platforms not to allow unpatriotic groups or individuals to use their respected medium to mislead or misinform the public.
• The 2023 profit of N3.3tn was described as the highest since the company’s inception 47 years ago.

NNPC releases 2020 audited financial statements

Members of the public should note that the Government of Kano State has absolutely nothing to hide. The administration is fully committed to transparency and accountability, and as such, any government official, including the Director-General of Protocol, is always ready to provide explanations to anti-graft agencies whenever necessary to give clarifications on their activities and official engagements. The government encourages lawful processes and remains confident that its officials can fully explain and defend their actions in line with due process and public service regulations.

NNPC consolidates on gains, publishes 2020 Audited Financial Statements

“The Group Managing Director of the NNPC, Mele Kyari, had at various times since the President’s declaration of profit, attributed the turnaround to aggressive cost-cutting, automation of the system and renegotiation of contracts downwards by about 30 per cent, among other tough measures. The Nigerian National Petroleum Corporation (NNPC) has published its 2020 audited financial statements. The Nigerian National Petroleum Corporation (NNPC) has published its audited financial statements as well as its subsidiaries on its website Wednesday night. Among the highlights of the 2020 AFS is the corporation’s group profit which rose from a loss position of N1.7 billion in 2019 to a profit of N287bn in 2020, for the first time in 44 years.

NNPC Publishes 2020 Audited Financial Statements

• Despite inherent challenges of our operational and economic environment, we have improved the productivity and the financial performance of this great company,” Ajiya stated.
• “Governor Ganduje completed his tenure with diligence and transparency,” Garba stated, emphasizing that the former governor prioritized development and the responsible management of state resources throughout his time in office.
• Similarly, the Corporation’s group revenue for the 2020 financial year stood at N3.718trillion as against N4.634trillion in 2019, a decrease that could be attributed to the decline in the production and price of crude oil due to the global impact of the Covid-19 pandemic.
• Mele Kyari, group managing director of the NNPC had at various times since the President’s declaration of profit, attributed the turnaround to aggressive cost cutting, automation of the system and renegotiation of contracts downwards by about 30 per cent, among other tough measures.
• Mele Kyari, had at various times since the President’s declaration of profit, attributed the turnaround to aggressive cost cutting, automation of the system and renegotiation of contracts downwards by about 30 per cent, among other tough measures.
• Igbo apex group Ohanaeze Ndigbo has said no Igbo man including Peter Obi will contest presidency in 2027 against the incumbent President, Bola Ahmed Tinubu, saying that the possibility of the Southeast producing the president of Nigeria can only be achieved in 2035, not 2027.

“The group’s working capital remained below the line at N4.56 trillion in 2020 as against N4.44trillion in 2019, the AFS further revealed. The group’s working capital remained below the line at N4.56trillion in 2020 asagainst N4.44trillion in 2019, the AFS further revealed. “Despite inherent challenges of our operational and economic environment, we have improved the productivity and the financial performance of this great company,” Ajiya stated. Mr. Umar Ajiya, Chief Financial Officer of the Company, in his remark, stated that the AFS is a testament to the Company’s commitment to transparency and accountability.

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The Nigerian National Petroleum Company (NNPC) Limited, in its 2023 Audited Financial Statement (AFS), has declared a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, translating to an increase of over 700 billion (28%) when compared to the 2022 profit of N2.548 trillion. The organisation has been bothered about the relapse in the company, especially in the aspect of public disclosures. NNPCL is a member of the Extractive Industries Transparency Initiative (EITI), a global body that promotes the open and accountable management of oil, gas and mineral resources.

Further highlights of the AFS revealed that while the Corporation’s group financial position increased in total current assets by 18.7 per cent compared to that of 2019, its total current liabilities increased by 11.4 per cent  within the same period. Further highlights of the AFS revealed that while the Corporation’s group financialposition increased in total current assets by 18.7% compared to that of 2019, itstotal current liabilities increased by 11.4% within the same period. Further highlights of the AFS revealed that while the Corporation’s group financialposition increased in total current assets by 18.7% compared to that of 2019, itstotal current liabilities increased by 11.4% within the same period. The Group Managing Director of the NNPC Mallam Mele Kyari, had at various times since the president’s declaration of profit, attributed the turnaround to aggressive cost cutting, automation of the system and renegotiation of contracts downwards by about 30 per cent, among other tough measures.

Further highlights of the AFS revealed that while the Corporation’s group financial position increased in total current assets by 18.7% compared to that of 2019, its total current liabilities increased by 11.4% within the same period. Further highlights of the AFS revealed that while the Corporation’s group financial position increased in total current assets by 18.7% compared to that of 2019, its total current liabilities increased by 11.4% within the same period. Further highlights of the AFS revealed that while the Corporation’s group financial position increased in total current assets by 18.7 percent compared to that of 2019, its total current liabilities increased by 11.4 percent within the same period.

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Mele Kyari, had at various times since the President’s declaration of profit, attributed the turnaround to aggressive cost cutting, automation of the system and renegotiation of contracts downwards by about 30 per cent, among other tough measures. The Nigerian National Petroleum Company Limited (NNPCL) has released its audited financial statements for the 16-month period ending December 2022.According to the statement released on Thursday, NNPC said its revenue increased to N8.81trillion in 2022. In June, it was disclosed that the total amount remitted to the Federal Government was N7.97tn, indicating that N1.01tn was the statutory payment in June. From the July report released on Friday, it was reported that NNPC recorded a substantial decline in its profit after tax, dropping from N905bn in June to N185bn in July.

Chief Pius Akinyelure, Chairman of the NNPC Ltd Board, in his comment on the sideline of the press conference, said that the excellent performance came as the fruit of the PIA 2021, the commitment of the Board, Management, and staff of the company. In 2022, the profit further increased to ₦2.548 trillion, and in 2023, the company declared a record-breaking profit of ₦3.297 trillion, marking the highest profit in its 46-year history. The profit was attributed to the “owners of the company” (N2.521 trillion) and “non-controlling interests” (N1.78 billion). The good people of Kano and indeed Nigerians are commending the Kwankwasiyya Gida-Gida administration for the restoration of hope by running a transparent and open government, which makes Governor Abba Kabir Yusuf arguably the most awarded and recognized Governor in the Fourth Republic. Kano State Government is aware of the nefarious activities of a particular opposition group seeking to pull the present administration down. The opposition party is struggling hard, using the digital space to overblow the matter to misinform the general public.

NNPC Publishes 2020 Audited Financial Statements

In compliance with the President’s directive, the NNPC has fulfilled this very important statutory requirement by publishing its Audited Financial Statements today. Among the highlights of the 2020 AFS is the Corporation’s group profit, which rose from a loss position of N1.7billion in 2019 to a profit of N287 billion in 2020, for the first time in 44 years. The Group Managing Director of the NNPC Malam Mele Kyari, had at various times since the President’s declaration of profit, attributed the turnaround to aggressive cost cutting, automation of the system and renegotiation of contracts downwards by about 30 per cent, among other tough measures.