Mr. Mele Kolo Kyari, GMD, NNPC.

OBINNA EZUGWU

Nigeria National Petroleum Corporation (NNPC) has accumulated deficit of N257.34 billion from 2015 to 2020, data from BudgIT Nigeria have shown.

This means that since 2015, with the exception of 2018 and 2019, the corporation expenditure has exceeded its income.

According to the data, which highlighted NNPC’s financial performance in the last five years released on Thursday, the corporation incurred N197 billion deficit in 2015, N54 billion deficit in 2016 and N79 billion deficit in 2017.

NNPC Financial Performance
NNNPC financial performance: Credit: BudgIT

The corporation, however, recorded trade surplus in 2018 and 2019 according to data, before slipping back to deficit in 2020.

In 2018, it recorded trade surplus of N81 billion, and in 2019 the surplus came down to N21 billion.

The year 2020, the corporation has thus far recorded deficit of N29 billion, the data showed.