After the publication of its operational report for April, stakeholders and experts stressed that the Nigerian National Petroleum Company Limited (NNPCL) must provide more than just infographics; they called for detailed audited figures to ensure transparency in the oil and gas sector.
Last Thursday, the NNPCL issued its first monthly report under the leadership of its new GCEO, Bayo Ojulari. This would be recalled.
The oil company reported a profit after tax of N748bn, following revenue generation of N5.89 trillion, according to the report, which was presented as infographics and not subject to an audit.
Additionally, it was reported that from January to March, the NNPCL’s daily oil production (including crude and condensate) averaged 1.6 million barrels, resulting in statutory payments amounting to N4.22tn. In April, natural gas production reached 7.47 billion standard cubic feet per day.
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