The Buhari’s government run Nigerian National Petroleum Corporation (NNPC) incurred a total loss of N120.07 bn in the months of August and September, according to the NNPC Group financial report.
In the month of August 2015 and September 2015, the corporation incurred losses of N60.67 billion and N59.40 billion, respectively.
Also shown is the fact that the Nigeria National oil firm’s revenue in August 2015 was N146.617 billion, while its expenses stood at N207.287 billion.
More s0, September, the corporation’s total revenue was N112.514 billion, while the expenses were N171.914 billion.
Further analysis of the report indicated that the Pipelines and Products Marketing Company, a subsidiary of the NNPC, incurred the highest amount of losses in the two months under review.
Moreover, the report showed that all government-owned refineries managed by the NNPC were still not making profit, despite claims that the facilities had started producing refined products for public consumption.