NNPC LOSES N228.1BN REVENUE AS REFINERIES REMAIN DORMANT
Written by thereachfm on March 5, 2019
The latest industry data revealed that the Nigerian National Petroleum Corporation lost revenue of N228.1bn between April and November 2018, as its refineries continued to perform poorly.
Figures obtained from the national oil firm in Abuja yesterday showed that the corporation’s revenue nosedived from the N520.4bn recorded in April 2018 to N292.3bn in November last year.
Analysts, however say that the NNPC’s revenue grew from the N323.19bn recorded in January 2018 to the highest level of N520.4bn in April, but commenced a descent until it crashed to N292.3bn in November, which was the month with the most recent financial updates from the oil firm.