NNPC Ties 44-Year Historic N287bn Profit To Cost-Cutting, Efficiency, Investment
Aug 30, 2021 ·
15m 44s
In a stock exchange-styled ‘Fact-Behind-the figures presentation, Mele Kyari, group managing director, Nigerian National Petroleum Corporation has said cost-cutting measures, efficiency, and strategic investment are the factors that led to...
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In a stock exchange-styled ‘Fact-Behind-the figures presentation, Mele Kyari, group managing director, Nigerian National Petroleum Corporation has said cost-cutting measures, efficiency, and strategic investment are the factors that led to the historic declaration of profit by the corporation for the first time in 44 years.
Kyari provided background information in a virtual briefing to scores of journalists across the world, in a form that has led not a few to challenge the chief executive officer of the state-owned oil giant to push for an initial public offering that would lead to a public listing and grilling by the investment analysts community, sooner than later.
He explained that the posting of N287 billion profit after tax by the national oil company in the 2020 financial year was achieved through management’s doggedness in prudent resource management.
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Kyari provided background information in a virtual briefing to scores of journalists across the world, in a form that has led not a few to challenge the chief executive officer of the state-owned oil giant to push for an initial public offering that would lead to a public listing and grilling by the investment analysts community, sooner than later.
He explained that the posting of N287 billion profit after tax by the national oil company in the 2020 financial year was achieved through management’s doggedness in prudent resource management.
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