Mallam Mele Kyari, GMD, NNPC
The Nigerian National Petroleum Corporation (NNPC) has announced a N39.85 billion trading surplus for the month of February 2021 representing a 314.24 per cent leap from the N9.62billion surplus it recorded in January 2021.
This is contained in the February 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR).
Trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue for the period under review.
According to the report, in February 2021, NNPC Group operating revenue as compared to January 2021, increased by 35.64percent or N152.07billion to stand at N578.79billion.
Similarly, expenditure for the month increased by 29.21percent or N121.83billion to stand at N538.94billion.
The expenditure for the month as a proportion of revenue was 0.93 per cent as against 0.98 per cent the previous month.
The Corporation attributed the significant increase in trading surplus mainly to reconciled accounts by the Corporation’s downstream subsidiary, the Petroleum Products Marketing Company (PPMC), using the Petroleum Products Pricing Regulatory Agency (PPPRA) pricing template.
Other factors that boosted the trading surplus figure, according to the Corporation, included the performance of Duke Oil, Nigerian Gas Company (NGC) and Nigerian Gas Marketing Company (NGMC) which recorded robust gains as a result of increased debt collection and cost optimisation measures.
Meanwhile, during the period under review, 54 pipeline points were vandalised representing a 50 per cent increase from the 27 points recorded in January 2021.
The Warri Area accounted for 50 per cent and Mosimi Area accounted for 39 per cent of the vandalised points while Kaduna and Port Harcourt Areas accounted for 7 per cent and 4 per cent respectively.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
Fake Website Asking N-Power Candidates To Verify If They Have Been Shortlisted For N30,700 Grant
CLAIM: A viral post on WhatsApp is asking N-Power candidates to verify if they have been shortlisted to receive ₦30,700 Batch C grant
VERDICT: FALSE. Registration can make you lose your WhatsApp account to scammers.
FULL TEXT: A viral post on WhatsApp is asking N-Power candidates to verify the status of their application and see if they have been shortlisted for the batch C cash grant…NNPC records N39.8bn trading surplus in February
"It also positions Lagos as a central cargo hub, which is expected to attract more…
According to the Command, Danwawu who was previously charged in 2022 for being in possession…
The plane stopped well before the end of the runway.
He also revealed that 80 individuals were currently under investigation for examination-related offences, with Anambra…
The member representing Eket/ONNA/Esit Eket/Ibeno Federal Constituency in the House of Representatives, Hon. Okpolupm Etteh,…
Activist Aisha Yesufu has criticised Peter Obi for dismissing the need for the 2012 Occupy…
This website uses cookies.