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NNPC’s Losses Increase by 200%, Hit N30.8bn
Latest figures from The Nigerian National Petroleum Corporation on Wednesday showed that the oil firm lost N30.81bn in April 2020, representing over 200 per cent increase in its operating deficit.
In the report on the corporation’s financial and operational activities for April 2020, the oil firm explained that the deficit posted by its flagship subsidiary, the Nigerian Petroleum Development Company, caused the over 200 per cent monthly loss recorded by the group.
It said the report in April 2020 indicates an increased trading deficit of N30.81bn compared to the N9.53bn deficit posted in March 2020.
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By Africa Business RadioLatest figures from The Nigerian National Petroleum Corporation on Wednesday showed that the oil firm lost N30.81bn in April 2020, representing over 200 per cent increase in its operating deficit.
In the report on the corporation’s financial and operational activities for April 2020, the oil firm explained that the deficit posted by its flagship subsidiary, the Nigerian Petroleum Development Company, caused the over 200 per cent monthly loss recorded by the group.
It said the report in April 2020 indicates an increased trading deficit of N30.81bn compared to the N9.53bn deficit posted in March 2020.
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