Connect with us


NNPC Records ₦141.96bn Trading Surplus



The logo of NNPC

The Nigerian National Petroleum Company (NNPC) Limited has announced a huge leap in trading surplus of ₦141.96billion recorded in June 2021 compared to a deficit of ₦37.46Billion in May 2021.

This is contained in the June 2021 figures of the NNPC Monthly Financial and Operations Report (MFOR).

In a released by Garba Deen Muhammad, Group General Manager, Group Public Affairs Division of the Nigeria National Petroleum Company in Abuja stated that “A trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue for the period under review.

“In June 2021, NNPC Group operating revenue as compared to May 2021, decreased by 9.07% or N89.27billion to stand at N894.64billion. Similarly, expenditure for the month decreased by 29.32% or N299.44billion to stand at N721.93billion, the statement added

“Thus, in the period under review, expenditure as a proportion of revenue was 0.81%, compared to the figure in May which stood at 1.04%.

“The report also noted that the increase in trading surplus was due mainly to the increased sales of crude oil and gas by the Nigerian Petroleum Development Company (NPDC), an Upstream subsidiary of the NNPC, and the increased gas sales and depreciation postings by the Nigerian Gas Company (NGC).

“The positive outlook was further bolstered by the performance of Duke Oil and the Nigerian Gas Marketing Company (NGMC) which also added to the improved bottom line.

“Trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue for the period under review.

“According to the report, in plus or trading deficit is derived after deduction of the expenditure profile from the revenue for the period under review.

“To ensure continuous supply and effective distribution of Premium Motor Spirit (PMS) across the country, a total of 1.63bn litres of PMS translating to 54.50mn liters/day were supplied in June 2021.

“The report indicated that in June 2021, 47 pipeline points were vandalized representing 26.56% decrease from the 64 points recorded in May 2021. Port Harcourt Area accounted for 43%, while Mosimi and Kaduna Areas accounted for 51% and 6% respectively of the vandalized points.

“In the gas sector, a total of 223.77billion cubic feet (bcf) of natural gas was produced in the month of June 2021 translating to an average daily production of 7,459.88million standard cubic feet per day (mmscfd).

“For the period of June 2020 to June 2021, a total of 2,890.11bcf of gas was produced representing an average daily production of 7,321.36mmscfd during the period.

“Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed 59.84%, 20.26% and 19.90% respectively to the total national gas production.

“The 71st edition of the MFOR highlights NNPC’s activities for the period of June 2020 to June 2021.

“In line with its commitment to transparency and accountability, NNPC has continued to sustain effective communication with stakeholders through this report via publications on its website, independent online news portals and in national dailies.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.


President Buhari Hails UN Deputy Secretary General, Amina Mohammed on reappointment




President Muhammadu Buhari warmly felicitates with UN Deputy Secretary General, Amina Mohammed, on her re-appointment for a second term, assuring of the prayers and support of Nigerians, especially the Federal Executive Council, where she served for some years.

According to a statement signed by Femi Adesina Special Adviser to the President on Media & Publicity, “the President

sends deepest appreciation to the UN Secretary-General, Antonio Guterres, for the confidence reposed on the former Minister of the Environment, giving her another opportunity to serve the global body and humanity, which further enhances the voice and presence of Nigeria.

President Buhari notes that Mohammed’s dedication to duty has always been exceptional, and her interest in improving the livelihood of people, through personal and institutional efforts, continues to stand her out, affirming that the UN Deputy Secretary General remains an inspiration to many women in Nigeria, Africa and the global community.

The President joins family, friends and associates of the renowned technocrat and diplomat in celebrating the well-deserved re-appointment, wishing her all the best on the next rung of the leadership ladder.”

Continue Reading


President Buhari Mourns Spiritual Leader, Dr. Ahmad




President Muhammadu Buhari, Friday, issued a condolence message on the death of a leading Muslim Scholar and Imam, Bayero University, Kano (BUK), Dr Ahmad Muhammad Ibrahim, recalling his noble expositions of the prophetic traditions of Prophet Muhammad (SAW).

According to a released by Senior Special Assistant to the President on Media and Publicity Mallam Garba Shehu, the President Buhari said Dr Ahmad will be remembered for his impeccable service to Islam and the nation, as well as his passion towards public enlightenment.

“It is really sad news for all of us to learn that our beloved Dr. Ahmad is no more. He was a personality of faith, who dedicated his life to Islamic education. His emphasis on the unity of Muslims, good education and the rights of women will always be remembered. We offer our heartfelt condolences and pray for the eternal repose of his soul,” said the President.

In BUK where he taught and led Muslims in prayer for more than 30 years before he, on his own, set up the “Darul Hadith,” meaning the home of prophetic traditions, an Islamic Center next door, the news of his death sent shock and gloomy waves across the community and beyond.

President Buhari recalled that the late Imam authored several books in his lifetime, among the latest being his translation of the more than 1,000 year-old “Muwatta Malik,” a 1173-page book into Hausa, at which presentation he (President Buhari) was represented.

The President conveyed the nation’s condolences to the bereaved family, the Bayero University community and to his countless students and followers in Kano and in West Africa.

Continue Reading


Dr Ahmad BUK : “We Lost A Peace Maker, Compendium of Knowledge,” Says Gov Ganduje




Governor Abdullahi Umar Ganduje of Kano state has described the death of Dr Ahmad Muhammad Ibrahim, of the popular Darul Hadith Centre in Kano, as a great loss of a strong peace maker and a compendium of Hadith knowledge.

In a statement released by Abba Anwar Chief Press Secretary to the Governor of Kano State, the Governor said, “the death hit the state very well. Adding that, the late scholar was a sound scholar, with deep sound of ingenuity and originality, in his teaching of the sayings of the Holy Prophet Muhammad, Peace and Blessings of Allah Be Upon Him.

“He was an energiser of peaceful coexistence, whose method of teaching was aimed at promoting peace and tranquility among all sects and beyond. This is a great loss that gravitates around with sorrow and irreplaceablity,” mourns the governor.

Governor Ganduje urged Islamic scholars to strive and copy the good virtues of the late Sheikh. Urging that, “He laid a solid foundation on how to do Da’awah and he followed what he preached. A gentleman by all standards per excellence.”

Extending that, “On behalf of the government and people of Kano state, I am extending our condolences to the immediate families of Sheikh Dr Ahmad Muhammad Ibrahim. Not only his families, Kano or Nigeria, the entire global intellectual community lost a rare gem.”

He prayed Almighty Allah to Forgive all his shortcomings and reward his good deeds with Jannatul Fiddaus.

Continue Reading


Copyright © 2022 The Benisheikh News. Design by