Business
NNPC Limited Announces Impressive 2023 Fiscal Year Profits of N3.3 Trillion
The Nigerian National Petroleum Company (NNPC) Limited has some exciting news to share. In their recent media briefing on Monday, the chairman of the NNPC board, Pius Akinyelure, announced a substantial profit of N3.3 trillion for the 2023 fiscal year. This marks a remarkable increase from the N2.54 trillion profit reported in 2022.
Akinyelure proudly highlighted that this impressive jump in profits is a testament to the company’s financial resilience and strategic foresight. It is indeed a significant milestone for NNPC as it has been a long road to achieve such numbers.
Just think about it – back in 2018, the company recorded a loss of N803 billion and even posted another loss of N1.7 billion in 2019. But things started looking up in 2020 when NNPC turned things around with a profit of N287 billion, followed by an even higher profit of N674.1 billion in 2021.
But wait, there’s more good news! Not only did NNPC see an increase in profits, but its revenue also saw a gigantic leap last year, soaring to N24 trillion from N8.81 trillion in 2022.
These outstanding figures show how much progress NNPC has made over the years and how it continues to grow as one of Nigeria’s leading national petroleum companies.
It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.
The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.
The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.
Idi Mukhtar Maiha, Minister of Livestock Development, has revealed the government’s intention of placing women in the livestock transformation agenda that they have in store for Nigeria.
During a recent event, he praised women, describing them as the backbone of the country, and shared that the country will keep on needing their support, hence the inclusion of the agenda team.
He also praised the First Lady for the impact she has made in the country so far and her advocacy for women’s empowerment.
Nigerians react as a user claims and shares that the price of rice in Nigeria is already reducing.
“Rice prices are finally dropping, minimum wage can buy a bag now. Step by step, we’re getting there. Nigeria will work in our lifetime.”
It can be noted that rice was sold at ₦85k to ₦90k, however, according to a market survey, the price of rice has dropped to ₦56k to ₦62k.
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