News
NNPC Consolidates on Gains, Publishes 2020 Audited Financial Statements
Following up on President Muhammadu Buhari’s recent announcement of the declaration of two hundred and eighty-seven billion Naira (N287bn) Profit After Tax (PAT) in the year 2020 by the Nigerian National Petroleum Corporation (NNPC), the Corporation has consolidated on the remarkable achievement, by publishing the Audited Financial Statements (AFS) on its official website.
It would be recalled that while announcing the outstanding feat a little over a fortnight ago, President Muhammadu Buhari, who is also the Minister of Petroleum Resources, had said: “I have further directed the Nigerian National Petroleum Corporation to timely publish the Audited Financial Statements in line with the requirements of the law and as follow up to our commitment to ensuring transparency and accountability by public institutions.”
In compliance with the President’s directive, the NNPC has fulfilled this very important statutory requirement by publishing its Audited Financial Statements today.
Among the highlights of the 2020 AFS is the Corporation’s group profit which rose from a loss position of N1.7billion in 2019 to a profit of N287bn in 2020, for the first time in 44 years.
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The Group Managing Director of the NNPC Mal. Mele Kyari, had at various times since the President’s declaration of profit, attributed the turnaround to aggressive cost-cutting, automation of the system, and renegotiation of contracts downwards by about 30 percent, among other tough measures.
Further highlights of the AFS revealed that while the Corporation’s group financial position increased in total current assets by 18.7% compared to that of 2019, its total current liabilities increased by 11.4% within the same period.
The group’s working capital remained below the line at N4.56trillion in 2020 as against N4.44trillion in 2019, the AFS further revealed.
Similarly, the Corporation’s group revenue for the 2020 financial year stood at N3.718trillion as against N4.634trillion in 2019, a decrease that could be attributed to the decline in the production and price of crude oil due to the global impact of the Covid-19 pandemic.
This is the third consecutive year that the NNPC is publishing its AFS, having done so for 2018 and 2019.
The full document of the NNPC 2020 AFS is available on the Corporation’s website.
News
Dep. Sen. President Received Kano SSG, Commissioner Sacked By Gov. Yusuf
Deputy Senate President Senator Barau I. Jibrin has received Dr. Abdullahi Baffa Bichi and Muhammad Gambo Diggol, former SSG and Commissioner of Transport, recently sacked by Governor Abba Kabir Yusuf.
The Deputy Senate President thanked them for the visit.
Deputy Senate President Barau I Jibrin ,middle flanked by former Commissioner of Transport from right Muhammad Gambo Diggol and Abdullahi Baffa Bichi from right the former SSG
Their discussion remains sketchy at the time of filing this report.
Dr. Abdullahi Baffa Bichi, the sacked Secretary to the Kano State Government, was a staunch supporter of the Kwankwasiyya movement who ensured the victory of the NNPP.
News
Biafran Rebels Kill Cameronian Soldiers In Bakassi
Five members of Cameroon’s Rapid d’Intervention Battalions (BIR) were reportedly killed Friday morning, March 14, 2025, in the Bakassi Peninsula during an attack by Biafra separatist groups.
Sources close to the groups revealed that the assault was carried out by the Black Marine, the largest faction and the Dragon Fighter Marine afiliated with the Biafra Nations League (BnL).
“At around 6:00 am on Thursday, the group launched explosives, hitting their targets and neutralizing two warships,” the sources claimed.
This marks a violent resurgence months after the arrest of Simon Ekpa, with insiders citing lack of funds as a reason for the group’s previous inactivity.
Reacting to the attack, a source said, “The warships have been withdrawn. The situation is tense, and our men are fully back in action.”
BnL leader, Princewill Chimezie Richards said, “Biafra has come to stay in Bakassi not even Cameroon can stop us.”
Guardian
News
Pro-Wike lawmakers adjourn indefinitely ahead of Fubara’s budget presentation
The faction of the Rivers State House of Assembly led by Martin Awaehule has adjourned its plenary indefinitely.
The decision was taken during a plenary session held at the assembly quarters in Port Harcourt on Friday.
The move comes just 24 hours after Siminalayi Fubara, governor of Rivers state, wrote to the assembly, requesting a new date for the presentation of the 2025 appropriation bill.
Dep. Sen. President Received Kano SSG, Commissioner Sacked By Gov. Yusuf
Biafran Rebels Kill Cameronian Soldiers In Bakassi
Pro-Wike lawmakers adjourn indefinitely ahead of Fubara’s budget presentation
Ramadan: Speaker Abbas’s aide donates cash to Dala LG APC Leaders, Supporters
Aliko Dangote Foundation Flags-off N16BN National Food Intervention Project.
Dep. Sen. President Received Kano SSG, Commissioner Sacked By Gov. Yusuf
Biafran Rebels Kill Cameronian Soldiers In Bakassi
Pro-Wike lawmakers adjourn indefinitely ahead of Fubara’s budget presentation
Ramadan: Speaker Abbas’s aide donates cash to Dala LG APC Leaders, Supporters
Aliko Dangote Foundation Flags-off N16BN National Food Intervention Project.
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