NNPC Ties 44-Year Historic N287bn Profit To Cost-Cutting, Efficiency, Investment

NNPC Ties 44-Year Historic N287bn Profit To Cost-Cutting, Efficiency, Investment

Author: Africa Business Radio August 30, 2021 Duration: 15:45
News Express
Business
In a stock exchange-styled ‘Fact-Behind-the figures presentation, Mele Kyari, group managing director, Nigerian National Petroleum Corporation has said cost-cutting measures, efficiency, and strategic investment are the factors that led to the historic declaration of profit by the corporation for the first time in 44 years.
Kyari provided background information in a virtual briefing to scores of journalists across the world, in a form that has led not a few to challenge the chief executive officer of the state-owned oil giant to push for an initial public offering that would lead to a public listing and grilling by the investment analysts community, sooner than later.
He explained that the posting of N287 billion profit after tax by the national oil company in the 2020 financial year was achieved through management’s doggedness in prudent resource management.

Tune into News Express from Africa Business Radio for a clear-eyed look at the forces shaping Nigeria's economy. This isn't just headline scanning; it's a dedicated exploration of the financial sector and markets, delivered with a focus you won't find elsewhere. We go beyond the surface noise of daily news to provide context and analysis, yet avoid the narrow jargon that can make trade publications inaccessible. Each episode distills the essential conversations happening right now in boardrooms and on trading floors. You'll hear informed discussions pinpointing what matters for pivotal areas like Investment Banking, Trading, Technology, and Fund Management, while also tracking movements in Alternatives, Commodities, and major Companies. For anyone with a stake in the region's business landscape, this podcast serves as a vital briefing, connecting the dots between sectors to offer a comprehensive, nuanced picture. News Express is your source for understanding not just what is happening, but why it matters for the future of African commerce.
Author: Language: English Episodes: 100

Official website RSS
News Express
Podcast Episodes
African Banks Maintain Resilience amid Difficulty [not-audio_url] [/not-audio_url]

Duration: 29:09
A new report by the European Investment Bank (EIB) based on a 2023 survey of Banking in Africa has found that banks on the continent have continued to show resilience despite operating in what the EIB described as “ a di…
High-Interest Rate Causing Debt Distress in Emerging Economies  [not-audio_url] [/not-audio_url]

Duration: 30:31
The Combination Of Aggressive interest-rate hikes in developed countries, lack of sufficient affordable capital from the World Bank and a failure to consider and address the spillover effects are creating costly spillbac…
IMF Expert Sees Lifeline for CBN’s E-naira in Mobile Money  [not-audio_url] [/not-audio_url]

Duration: 27:37
An expert in the Africa department of the International Monetary Fund has expressed optimism for the future success of Nigeria's e-Naira, Africa's first central bank digital currency and the world's second.Despite its un…

«123456...10»