NNPCL
NNPCL declares 2022 financial records, makes N8.8trn revenue
The Nigerian National Petroleum Company Limited (NNPCL) has said it realised N8.81 trillion as revenue in 2022.
According to the financial statement posted on its website, revenue of NNPC Group rose by 37.32 per cent — from N6.42 trillion in 2021 to N8.81 trillion in 2022.
The report showed that its total assets increased by 260.48 per cent, from N16.27 trillion in 2021 to N58.65 trillion.
It revealed that the NNPC Group’s revenue increased by 37.32 per cent, from N6.42 trillion in 2021.
The report stated that the group’s Profit-After-Tax, PAT, reached a record high of N2.523 trillion, up 273.9 per cent from N674 billion in 2021.
According to the report, the profit was divided between the “owners of the company” (N2.521 trillion) and the “non-controlling interests” (N1.782 billion).
The audited financial statement said the NNPC Group had N21.59 trillion in total current assets and N49.35 trillion in total current liabilities as of the end of 2022.
It stated that total liabilities increased by 266.72 per cent, from N13.46 trillion in 2021 to N49.53 trillion in 2022, while deferred tax liabilities stood at N13.23 trillion in 2022.
“Deferred tax assets totalled N3.09 trillion during the review period.
“The cost of sales also rose to N6.7 trillion in 2022, a 25.47 per cent increase from N5.34 trillion in 2021.
“In 2018, the company lost N803 billion, with another N1.7 billion expected in 2019.
“Reversing the deficit, the organisation made a profit of N287 billion in 2020, with another N674.1 billion profit expected in 2021,” it said.
NAN
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