NNPC Forecasts N300bn Profit in 2021

The Nigerian National Petroleum Corporation (NNPC) may likely see over N300 Billion (about $728.7 million) profit in 2021.

According to the Executive Director, Finance and Accounts of NNPC, Umar Ajiya, while speaking Friday on ARISE News Morning Show, the corporation was able to turn a profit and would still see a whooping profit as a result of the reversal of impairment losses from previous years and the recognition of exceptional items.

The corporation’s liabilities presently exceed its current assets by N4.6 trillion.

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 It also reported accumulated losses of N1.533 trillion as of December ending 2020, compelling its auditors to cast significant optimism mixed with pessimism on NNPC’s ability.

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