The Nigerian National Petroleum Company Limited’s Group Chief Executive Officer, Mele Kyari, disclosed on Tuesday that the NNPC’s corporate profit after tax increased from N287 billion in 2020 to N674 billion in 2021.
At a press conference in Abuja, Kyari, who made the announcement, said the oil company’s group audited financial statement for the year ended December 31, 2021, includes information about the 2021 earnings.
He said, “In September 2021, Mr. President graciously approved the publication of the 2020 NNPC Group Audited Financial Statement, in which NNPC declared a profit after tax of N287bn for the first time in its 44 years.
“Despite our challenging operating environment, we strongly believe that NNPC has the potential to sustainably deliver better value to its esteemed shareholders.
“Today I am happy to announce that the Board of NNPC Limited has approved 2021 audited financial statements, and NNPC progressed to a new performance level, from N287bn profit in 2020 to a N674bn profit after tax in 2021, climbing higher by 134.8 per cent year-on-year profit growth.”
