President Muhammadu Buhari has announced the declaration of profit after tax of two hundred and eighty seven billion naira (N287 billion) in year 2020 by the National Petroleum Corporation (NNPC). He said that this is sequel to the completion of the statutory annual audit exercise for year 2020, adding that the NNPC losses were reduced from N803 billion in year 2018 to N1.7 billion in year 2019, and the eventual declaration of net profit in year 2020 for the first time. The president noted that his administration is committed to ensuring the management of resources and maximization of value for Nigerians from their natural resources. He directed the NNPC to public the audited financial statements in line with the requirements of the law, and also to show transparency and accountability of public institutions. President Buhari congratulated the entire NNPC staff, and look forward to greater value creation for Nigeria.
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