The Nigerian National Petroleum Corporation (NNPC) has come out to say that its trading surplus for the month of February 2021 increased to N39.85 billion.

This is according to the corporation’s February 2021 Monthly Financial and Operations report (MFOR), and Nigerians have been reacting.

According to NNPC, their operating revenue as compared to January 2021, increased by 35.64% or N 152.07billion to stand at N578.79billion. Similarly, expenditure for the month increased by 29.21% or N121.83billion to stand at N538.94billion, and the expenditure for the month as a proportion of revenue was 0.93% as against 0.98% the previous month.

The report added that the major increase in trading surplus is mainly because of the reconciled accounts by the Corporation’s downstream subsidiary, the Petroleum Products Marketing Company (PPMC), using the Petroleum Products Pricing Regulatory Agency (PPPRA) pricing template.

WOW.

The Nigerian National Petroleum Corporation is the oil corporation through which the federal government of Nigeria regulates and participates in the country’s petroleum industry.

The NNPC business operations are managed through Strategic Business and Corporate Services Units (SBUs/CSUs) in diverse locations across Nigeria.

In that case; The Nigerian National Petroleum Corporation (NNPC) initiated a recruitment scheme and since then, until date the NNPC recruitment have been a yearly scheme.

Dr. Maikanti Baru (July 7, 1959 – May 29, 2020) was the former Group Managing Director (GMD). He was appointed Group Managing Director on July 4, 2016, under the presidency of Muhammadu Buhari; he succeeded Dr. Emmanuel Ibe Kachikwu, the Nigerian Minister of State for Petroleum (2015 – 2019).