NNPC Clarifies ‘ Inadvertent’ N687trn Profit Announcement

The Nigerian National Petroleum Company Limited (NNPC) claims that Mallam Mele Kyari, the company’s group chief executive officer, made a mistake when he stated that the company earned N687 trillion in 2021, when the correct number is N674 billion.

The GCEO intended to call N674 billion and not N687 trillion, according to a statement made in Abuja by the Chief Corporate Communications Officer of NNPC Ltd., Mr. Garba Muhammad.

The Group Chief Executive Officer (GCEO) of NNPC Ltd, Mr. @MKKyari, OFR, made an appearance on “The Morning Show” on Arise TV on Thursday, January 6, 2023. The 2021 profit margin was one of the topics covered by the GCEO.

“Inadvertently, N687 trillion was mentioned as the company’s Profit after Tax (PAT) figure as against N674 billion contained in the 2021 Annual Financial Statement.

“The accurate Profit after Tax figure for the Year 2021, N674 billion, was communicated to the public via our official Twitter account on 05/10/2022,” he stated.

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