The Nigerian National Petroleum Corporation recorded a loss of N267.14bn in 2015, the latest data from the group’s financial report for the month of December 2015 shows.
According to the report, the national oil firm lost N11.861bn in the month of December alone, down from the N14.29bn loss recorded in November.
Its gross revenue was put at N2.046tn, while its expenses stood at N2.3tn, leaving a loss of N267.138bn for the 2015 financial year.
The refineries continued their poor performance through the out 2015 with the three refineries posting a combined loss of N82.09bn in the period under review.
The Kaduna Refinery and Petrochemical Company lost N34.7bn, while Warri Refinery and Petrochemical Company and Port Harcourt Refining Company lost N24.308bn and N23.09bn, respectively. Click to signup for FREE news updates, latest information and hottest gists everyday
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That is the result of playing politics with economic decision. OBJ rightly sold these moribund assets to some Nigerians with financial muscles to turn them around. Yardua reversed the sales and open doors for monumental fraud under GEJ. Sell these money gulping baskets called refineries and save our dwindling resources
ReplyDeleteThis is just the beginning
ReplyDeleteHow can NNPC make loss when contractors under NNPC make super profits?
ReplyDeleteThis is just too much
ReplyDelete