NNPCL subsidiary collected N255.6bn revenue in 2022 – Report

A Nigerian National Petroleum Company Limited, NNPCL, subsidiary, the Nigerian National Petroleum Company Retail Limited, collected a total revenue of N255.6 billion in the 2022 financial year.

Society Watch reports that this was contained in a report on NNPCL downstream directorate activities.

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It explained that retail sales of its white products, such as petrol, kerosene, and aviation fuel, have increased in the period under review.

The report bench-marked the increase recorded in 2022 as six per cent and N14.14 billion profit in the third Quarter of 2022 alone.

“NNPC Retail Limited achieved a six per cent year-on-year increase in total white product sales, N255.6bn revenue, N15bn EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) and N14.14bn profit as at Q3 (third quarter )2022,” the report stated.