NNPC Posts N8.3billion in One Month


The losses incurred by the Nigerian National Petroleum Corporation, NNPC, in its operations have widened from N8.3bn to N3.55bn in the first trading month of the year 2016.

Figures contained in its monthly financial and operations report for January 2016 showed that the corporation earned N184.40bn as revenue in December 2015 but spent N196.26bn leaving a deficit of N11.86bn.

While it earned N130.86bn in January 2016, operating expenditure gulped N134.41bn which translates to a loss of N3.55bn for the month.

The corporation lost N46.5bn in September and N11.8bn in December last year.

About Author

This is BizWatchNigeria. Nigeria's first online business Newspaper.

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.