NNPC Records N18.12bn Trade Surplus
NNPC GMD, Maikanti Baru. Image: Pulse NG

The Nigerian National Petroleum Corporation (NNPC) has said it had a trade surplus of N18.12 billion May 2018.

This was higher than the previous month’s N17.16 billion, according to the Group Managing Director of the NNPC Maikanti Baru

Advertise With Us

In a statement on Monday in Abuja, the NNPC said this was because of increased performance of some of the corporation’s subsidiaries.

“Within the period, the NNPC Group performance was mainly impacted by NPDC’s performance which recorded a favorable variance of N18 billion due to increase in revenue with a parallel decrease in expenses,” the statement said.

“This resulted in N20.93billion net increase in the upstream gas and power surplus.”