The Nigerian National Petroleum Corporation (NNPC) may likely see over N300 Billion (about $728.7 million) profit in 2021.
According to the Executive Director, Finance and Accounts of NNPC, Umar Ajiya, while speaking Friday on ARISE News Morning Show, the corporation was able to turn a profit and would still see a whooping profit as a result of the reversal of impairment losses from previous years and the recognition of exceptional items.
The corporation’s liabilities presently exceed its current assets by N4.6 trillion.
It also reported accumulated losses of N1.533 trillion as of December ending 2020, compelling its auditors to cast significant optimism mixed with pessimism on NNPC’s ability.
Watch the interview for more…