Home Business NNPC publishes 2020 audited financial standing and promises consolidation

NNPC publishes 2020 audited financial standing and promises consolidation

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NNPC GMD, Mele Kyari displays the signed document

Following up on President Muhammadu Buhari’s recent announcement of the
declaration of two hundred and eighty seven billion Naira (N287bn) Profit After Tax (PAT) 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.

It would be recalled that while announcing the outstanding feat a little over a fortnight ago,
President Muhammadu Buhari, who is also the Minister of Petroleum Resources,
had said: “I 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.”

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
N287bn in 2020, for the first time in 44 years.

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