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.
Business
‘That Is the Only Way to Spread Prosperity’ — Dangote on Refinery Shares
Businessman Aliko Dangote has explained why he believes Nigerians should participate in the ownership of his refinery by purchasing shares.
He was asked by singer Davido why Nigerians should participate, and Dangote explained that the initiative would help spread wealth and prosperity across Africa.
“Well, it’s very important because that is the only way to spread prosperity and wealth throughout Africa. And like I said, this is not going to be the first and the last. We will continue with even our fertilizer. By the time we finish listing, every single one will own part of our businesses and we will create a pool of cash…”
He explained that the goal is to create opportunities for more Nigerians to own a stake in the businesses and help spread wealth across the country.
Business
Aliko Dangote Speaks on His Children and Carrying on His Family Name
Aliko Dangote speaks on his lineage and addresses not having a son as he was asked about not having a son to carry his name and achievements.
“That is not my priority because God controls everything. You can pray for God to give you a son, but he might be the one to take down the name of the family.”
Instead, he shared that he does not mind not having a son. “I don’t think a son would have done better than the three daughters I have.”
Aside from that, he was also asked about giving advice to young Nigerians. “Work hard, be consistent, focused and know what you want to do.”
Business
Dangote Investment Draws Huge Traffic to Bamboo, Cowrywise Platforms
It can be reported that following Aliko Dangote’s investment opportunity, some investment platforms are experiencing huge traffic, causing their platforms to become slow and go down.
Two platforms openly announced their issues. Bamboo said “Hey everyone, we’re getting a much higher than expected traffic trying to get into the Dangote IPO and it’s making it difficult for some users to log into the Bamboo app. We’re working on a fix and it will be up and running shortly.”
Cowrywise also said “We’re currently seeing more traffic than usual on the Cowrywise app. Our team is already on it and working to get things back to normal. Thanks for your patience, everyone.”
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