By Adoga Michael Oyi
Latest figures from its financial and operations report have shown that the Nigerian National Petroleum Corporation (NNPC) closed its 2017 financial year with an operating loss of N82bn, The Punch reports.
An analysis of the oil firm’s December 2017 report showed that its year-to-date expense as of the last month of last year was N3.71tn, while its revenue was put at N3.79tn. On the individual performance of the sub-units of the oil firm, the report stated that the corporation’s headquarters posted the highest loss in the year under review.
It lost N131.94bn in 2017, followed by the Pipelines and Products Marketing Company, which posted a loss of N102.53bn. The Nigerian Petroleum Development Company (NPDC) came first among the sub-units that recorded profit in 2017. The NPDC made the highest profit as a sub-unit in the NNPC by recording N111.88bn revenue during the review period.
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