QuidMetrics

NNPC reports surge in profit on back of strong oil revenues

The national oil company has delivered substantial payments to the federal government as its earnings grew.

The Nigerian National Petroleum Company Limited has reported strong financial performance, with profit growth driven by robust oil revenues. The company made statutory payments totalling N9.49 trillion to the federal account.

The NNPC's improved earnings reflect higher oil revenue generation during the period. These payments represent a significant contribution to government finances and budget resources for the country.