“NNPCL Appeals for Understanding Amid Fuel Scarcity, Reports N3.3 Trillion Profit”
The Nigerian National Petroleum Company Limited (NNPCL) has called for patience from Nigerians amid the ongoing fuel scarcity affecting major cities including Lagos and Abuja. In a statement issued on Monday, NNPCL’s spokesperson Olufemi Soneye highlighted the company’s efforts to address the distribution and logistics challenges contributing to the fuel shortages.
The appeal came as NNPCL also announced a significant financial milestone, reporting a profit of N3.3 trillion for the 2023 fiscal year, according to its Audit Financial Statement. This figure marks an increase of over N700 billion, or 28 percent, compared to the N2.548 trillion profit reported for 2022.
Dapo Segun, Executive Vice President of NNPCL’s Downstream sector, assured that the company is collaborating with relevant stakeholders to resolve the issues impacting fuel distribution and supply. The statement underscores the company’s commitment to addressing the crisis while reflecting on its robust financial performance.