Connect with us

Business

NNPC Limited Announces Impressive 2023 Fiscal Year Profits of N3.3 Trillion

Published

on


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.

Advertisement

 

Business

Hamster Kombat Unveils Anti-Cheating Plan

Published

on


Hamster Kombat has introduced a new anti-cheating strategy to ensure fair play and protect dedicated players. The initiative targets those attempting to manipulate the game for extra benefits, issuing a “cheating is bad” warning that could affect their positions for the airdrop distribution on September 26. The team emphasized the importance of rewarding honest players and creating a secure environment.

As Season 1 of the Telegram-based Web3 game ends on September 20, Hamster Kombat will take a snapshot of the game’s activities to determine airdrop eligibility. The game, which has over 300 million users, is focused on maintaining fairness ahead of its upcoming Season 2 launch.


 

Continue Reading

Business

Binance Launches ‘Moonbix’ on Telegram

Published

on


Binance announced the upcoming launch of “Moonbix,” a play-to-earn (P2E) game on Telegram’s Mini App. In this game, players explore galaxies, collect items, and earn crypto rewards. Although the game leaked early, Binance is fine-tuning it for an official release and warned users to stay cautious of impersonation scams.

Telegram Mini Apps, introduced in 2023, have seen massive engagement, with popular apps like Hamster Kombat driving crypto adoption. Telegram’s integration with The Open Network (TON) has further contributed to this growth.


 

Continue Reading

Business

Nigeria Earned $1.2bn from Telecom Licenses, Says Obasanjo

Published

on

Photo source: Google

The Federal Government generated around $1.2 billion from telecom license fees during the early stages of mobile technology in Nigeria, with major operators like MTN, Globacom, Econet (now Airtel), and Etisalat (now 9mobile) contributing to the sum.

These fees were instrumental in laying the foundation for the country’s telecom industry, which officially began in 2000.

The sector has since become a key driver of Nigeria’s economic growth.

Former President Olusegun Obasanjo highlighted this achievement during a book launch held in Lagos on Tuesday.

He reflected on how the licensing of these operators marked a pivotal moment in Nigeria’s technological and economic development, allowing the country to leap into the era of mobile communication.

Advertisement

Obasanjo acknowledged the critical role these funds played in shaping the telecom industry, which has become one of the most significant sectors in the nation’s economy today.

The successful auction of these telecom licenses provided the capital necessary to build the infrastructure and networks that have connected millions of Nigerians, driving economic activity and fostering innovation across various industries.


 

Continue Reading

Trending