NNPCL Announces N2.52tn Profit, N8.8tn Revenue in 2022 To pay pending $1.76bn equity in Dangote Refinery with $2.5/bbl crude oil, dividend accruals
Emmanuel Addeh in Abuja
The Nigerian National Petroleum Company Limited (NNPCL) increased its revenue profile by 37.2 per cent, from N6.42 trillion in 2021 to N8.81
trillion in 2022, its latest Audited Financial Statement (AFS) released yesterday revealed. The document, the fourth in the series to be made public since 1977, when the then NNPC began operations, also showed
that the company recorded Profit After Tax (PAT) of N2.52 trillion, representing about 274 per cent increase when compared to the N674 billion it recorded in 2021. In all, the audited statement for the year ended December
2022 showed that during the period under review, the NNPC had total non-current assets of N37 trillion and current assets of N21.59 trillion, to give a total of N58.65 trillion in assets. It also meant an increase by
about 260.47 per cent compared to N16.27 trillion in 2021. But non-current liabilities stood at N19.98 trillion, while current liabilities were N29.3 trillion, to hit N49.35 trillion at the end of 2022 as against N13.46 trillion
in 2021. This was an increase of about 266.6 per cent. According to the new AFS, deferred tax liabilities was N13.23 trillion during the year, Continued on page 5
CBN Seeks to Replace External MPC Members Ahead of February Meeting...
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Saturday, January 27, 2024 Vol 29. No 10517
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Senior Lawyers Push for Elevation of Substantial Justice above Technicalities
Alex Enumah in Abuja
L-R: Governor Ademola Jackson Adeleke of Osun State; former President, Chief Olusegun Obasanjo; Ogun State Governor, Prince Dapo Abiodun and Abepa of Joga Orile-Yewa, Oba Adeyemi Olanrewaju Adekeye, during the 66th birthday celebration of the monarch and the installation of Governor Adeleke as the Baba Oba of Jogaland…yesterday
With just the Adamawa State Governorship Election Appeal pending at the Supreme Court, Continued on page 5
End Wanton Killings in Nigeria, Peter Obi Tells FG, Security Agencies Chuks Okocha in Abuja The presidential candidate in last year’s election under the Labour Party (LP) and former Governor of Anambra State, Mr. Peter Obi, has called on the federal government and the security agencies to rise up and put an end to the wanton killings in Nigeria. Obi stressed that for the umpteenth time, Nigerians again woke up to the continued reports of highly condemnable acts of violence reoccurring across the country. Obi, who stated this via his verified X handle, lamented that: “First was the reported killing of about 30 persons in Plateau State, and secondly, the gruesome killing of husband and wife in Anambra State, whose bodies were left in Continued on page 5
GLO FESTIVAL OF JOY…
L-R: Mr. Arinze Ezeani of the National Lottery Regulatory Commission; Member, House of Representatives, representing Ibeju Lekki, Hon. Bayo Balogun; winner, Mr Abiodun Hundeyin, a retired Deputy Comptroller-General of Immigration; Globacom’s Retail Chief, Lagos, Lawrence Odediran, and Chairman, Ibeju Local Government, Engr. Abdulai Sesan Olowa, at the presentation of Business Class return ticket (Lagos-Paris-London-Lagos) won by Hundeyin in the ongoing Globacom Festival of Joy promo in Lagos…yesterday