Breaking: NNPC Declares N287bn Profit for the First Time in 44 Years, Buhari Excited

Breaking: NNPC Declares N287bn Profit for the First Time in 44 Years, Buhari Excited

  • The Nigerian National Petroleum Corporation has finally declared a profit after 44 years, according to President Buhari
  • Buhari who shared the good news on social media said the corporation was always on the losing side until now
  • Also, the president said he has directed NNPC to publish its timely Audited Financial statements

President Muhammadu Buhari has taken to social media to announce that for the in 44 years, the Nigerian National Petroleum Corporation (NNPC), has declared profit.

The president disclosed this in a statement posted on Facebook and sighted by

Buhari says has NNPC declared N287bn profit for the first in 44 years.
President Buhari has celebrated the declaration of profit by the NNPC. Photo: Femi Adesina
Source: Facebook

According to the president who doubles as minister of petroleum resources, the profit after tax of two hundred and eighty seven Billion naira (N287 Billion) came after years of losses.

Buhari said this follows the completion of the statutory annual audit exercise for the Year 2020.

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He added that the losses of the NNPC were reduced from N803 billion in year 2018 to N1.7 billion in year 2019.

Going further, he disclosed that NNPC has been ordered to timely publish the audited financial statements.

He added that this will ensure transparency and accountability by public institutions.

No previous govt developed Niger Delta like Buhari's administration, says APC group

Meanwhile, had reported that the All Progressives Congress Legacy Awareness and Campaign (APC-LAC) said that no previous administration paid more attention to the plight of the Niger Delta region like the current administration of President Buhari.

The voluntary think-tank group within the ruling All Progressives Congress assured members of the public that President Buhari will not relent in the implementation of his vision of a safe, secure, and prosperous Niger Delta.

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Finally, NNPC reveals when Nigeria will stop importing petrol

In a statement sent to on Tuesday, August 24, leaders of the group noted that the region left to the negative consequences of mineral exploitation by previous administrations is now facing a brother future through the Ogoni clean-up which has finally kicked off.

The statement was signed by the APC national youth leader, Barr. Ismail Ahmed, former national publicity secretary, Lanre Issa-Onilu, presidential aide on social media, Tolu Ogunlesi, and the director-general of the Progressive Governors Forum (PGF) Salihu Mohohammed Lukman.


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