The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, NNPCL, Bayo Ojulari, has explained that the state-owned firm’s N5.4 trillion profit after tax declaration in its 2024 financial statements indicates that the country has begun to reap the benefits of the Petroleum Industry Act.
He made this explanation in an interview released on NNPCL’s X account on Friday.
Recall that NNPCL declared a significant N5.4 trillion PAT from a total revenue of N45.1 trillion in 2024.
Reacting, Ojulari said the earnings result demonstrated the state-owned firm’s commitment to transparency.
“This earning is our first step in going out there to make ourselves more visible and demonstrate our commitment towards transparency.
“The profit of N5.4 trillion is quite significant. What that indicates is that we are beginning to reap the benefits of the Petroleum Industry Act.”
