N2.548 trillion was made in profit in 2022, according to the Nigerian National Petroleum Company, Ltd.
According to the National Oil Company’s online 2022 Financial Performance Report, the profit was the biggest since the company’s founding in 1977.
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The financial report claimed to have lost N1.7 billion in 2019 and N803 billion in 2018.
The paper states that the company made N287 billion in profit in 2020, which it referred to as a “Turning Point.” In 2021, however, the company’s earnings increased to N674.1 billion, which it referred to as “Assurance.”
According to the report, the profit increased further and reached N2.548 trillion in 2022.
According to the News Agency of Nigeria (NAN), the NNPC Ltd. reported 157 instances of crude oil theft from seven incident sources between December 30, 2023, and January 5, 2024, and 17 suspects were taken into custody.
The Nigeria Agip Oil Company, Shell Petroleum Development Company (SPDC), Maton Engineering Ltd., Pipeline Infrastructure Nigeria Ltd., Tantita Security Service Ltd., NNPC Command and Control Centre, and Government Security Agencies were among the sources.
According to its report, 52 illicit refineries were found and demolished in the states of Abia, Imo, Rivers, and Bayelsa in the previous week, while 32 unlawful connections were found in various locations around the Niger Delta.
While seven unlawful storage facilities were discovered in Akwa Ibom state and hidden petroleum drums were discovered in bushes in Bayelsa and Warri, Delta, they were removed and fixed along the core corridor in the Niger Delta.
According to the corporation, there will be no retreating from the threat until it is eliminated.
