NNPC declares N5.2 billion trading surplus in August

The Nigerian National Petroleum Corporation (NNPC) said it made ₦5.20 billion trading surplus for the month of August, reflecting an increase of 22 per cent compared with the ₦4.26 billion surplus posted in July.

The corporation disclosed this in its Monthly Financial and Operations Report (MFOR) for the month of August released in Abuja on Sunday.

It attributed the appreciable increase of 22 per cent within the period under review to largely the improved surplus posted by the Nigerian Petroleum Development Company (NPDC).

It explained that the percentage increase in performance of the company evened out with the decline in the performance of Nigeria Gas Company (NGC) vis-à-vis July figures.

It added that the increased surplus posted by Duke Oil and the reduced deficit by the…

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