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EUR 8.12 For Business Accounts Only

Good Morning Nigeria: A NNPC plan to tidy up its finances

​A NNPC plan to tidy up its finances

  • The NNPC has now produced its second Financial and Operations Report, and the financial picture for September has not improved. The group financial performance shows operating losses for the month of N59bn, and ytd of N438bn (US$2.2bn). The corporation's budget projects an operating profit for the nine months of N350bn. The losses are again concentrated in the Pipelines and Product Marketing Company (PPMC), which has reported a ytd deficit of N337bn excluding estimated claims of N249bn for fuel subsidy payments, N74bn for pipeline repairs and N49bn for losses due to vandalism.


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