{"id":75461,"date":"2021-08-26T16:29:32","date_gmt":"2021-08-26T15:29:32","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=75461"},"modified":"2021-08-26T16:29:32","modified_gmt":"2021-08-26T15:29:32","slug":"nnpc-declares-n287bn-net-profit-for-2020","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/08\/26\/nnpc-declares-n287bn-net-profit-for-2020\/","title":{"rendered":"NNPC declares N287bn net profit for 2020"},"content":{"rendered":"<p>The Nigerian National Petroleum Corporation (NNPC) has declared N287 billion profit after tax (PAT) for the year ended December 31, 2020 &#8211; first time in the 44-year history of the oil company.<\/p>\n<p>This declaration was made by President Muhammadu Buhari, who doubles as minister for petroleum <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/07\/23\/we-will-allocate-more-resources-to-education-sector-buhari\/\">resources<\/a> in a statement released on Thursday.<\/p>\n<p>According to President Buhari,\u00a0NNPC losses were reduced from N803 billion in year 2018 to N1.7 billion in year 2019 and the eventual declaration of net profit in 2020.<\/p>\n<p>\u201cI am pleased to announce the declaration of Profit after Tax of Two Hundred and Eighty Seven Billion Naira (N287 Billion) in Year 2020 by the Nigerian National Petroleum Corporation. This is sequel to the completion of the statutory Annual Audit exercise for Year 2020,\u201d Femi Adesina, presidential spokesman, in a statement on Thursday, quoted Buhari as saying.<\/p>\n<p>\u201cThis development is consistent with this administration\u2019s commitment to ensuring prudent management of resources and maximization of value for the Nigerian people from their natural resources.<\/p>\n<p>\u201cI have further directed the Nigerian National Petroleum Corporation to timely publish the Audited Financial statements in line with the requirements of the law and as follow up to our commitment to ensuring transparency and accountability by public institutions.<\/p>\n<p>\u201cI congratulate the Board, Management and Staff of the Corporation and look forward to greater value creation for the Nigerian people.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nigerian National Petroleum Corporation (NNPC) has declared N287 billion profit after tax (PAT) for the year ended December 31, 2020 &#8211; first time in the 44-year history of the oil company. This declaration was made by President Muhammadu Buhari, who doubles as minister for petroleum resources in a statement released on Thursday. According to [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":75505,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[1504,16679,1193,208],"class_list":["post-75461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-femi-adesina","tag-nigerian-people","tag-nnpc","tag-president-muhammadu-buhari"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NNPC declares N287bn net profit for 2020<\/title>\n<meta name=\"description\" content=\"The Nigerian National Petroleum Corporation (NNPC) has declared N287 billion profit after tax (PAT) for the year ended December 31, 2020 - 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