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              Ghana: Prime Minister Shri Narendra Modi addresses the Parliament of Ghana

              Ghana: Prime Minister Shri Narendra Modi addresses the Parliament of Ghana

              Ghana: Mahama swears in 7 new Supreme Court Justices

              Ghana: Mahama swears in 7 new Supreme Court Justices

              Africa: Launch of PAPSSCARD Marks Major Leap Toward Financial Sovereignty and Intra-Continental Trade Integration

              Africa: Launch of PAPSSCARD Marks Major Leap Toward Financial Sovereignty and Intra-Continental Trade Integration

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              Africa: Nigeria, Egypt Top $95 Billion Remittance Surge, Unlocking New Investment Frontiers

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              Nigeria: Customs Integrates CBN, FIRS, Banks into B’Odogwu Platform to Digitize Trade Efficiency

              Africa: Nigeria Ascends Global Customs Leadership as CGC Adeniyi Becomes WCO Council Chair

              Africa: Nigeria Ascends Global Customs Leadership as CGC Adeniyi Becomes WCO Council Chair

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              Kampala Road Works: Kigenyi urges safety, order

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              • FEATURES
                Meet Sidi Ould Tah: Newly President of African Development Bank Group

                Meet Sidi Ould Tah: Newly President of African Development Bank Group

                Meet the newly appointed executives steering NNPC Limited

                Meet the newly appointed executives steering NNPC Limited

                Meet Netumbo Nandi-Ndaitwah: Namibia’s First Female President

                Meet Netumbo Nandi-Ndaitwah: Namibia’s First Female President

                Meet Haruna Iddrisu: The Politician, Lawyer, and Latest  Minister of Ghana’s Ministry of Education

                Meet Haruna Iddrisu: The Politician, Lawyer, and Latest  Minister of Ghana’s Ministry of Education

                Meet Agnes Naa Momo Lartey: The Minister Designate for the Ministry of Gender, Children and Social Protection in Ghana

                Meet Agnes Naa Momo Lartey: The Minister Designate for the Ministry of Gender, Children and Social Protection in Ghana

                Meet Justina Nelson: A Banking Visionary and Strategic Leader Who Takes Over MIIF as Acting Chief Executive Officer

                Meet Justina Nelson: A Banking Visionary and Strategic Leader Who Takes Over MIIF as Acting Chief Executive Officer

                Meet Nigeria’s Newly Nominated Ministers

                Meet Nigeria’s Newly Nominated Ministers

                Nigeria’s $5 billion FLNG project gets Presidential endorsement

                FULL TEXT: President of Nigeria 2024 Independence Day speech

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                  Kenya: Ministry of Health outlines SHA compliance measures

                  South Africa: Durban Port to expand vehicle terminal

                  South Africa: Durban Port to expand vehicle terminal

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                  Botswana, Türkiye aim for stronger ties

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                  Nigeria to host 2025 Afreximbank annual meetings

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                  Ghana:Adjei reaffirms commitment to expanding urban water supply

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                  Kenya Government Embarks on County Industrialization Initiative to Boost Trade and Employment

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                    Nigerian’s First Lady Aisha Buhari in Talks on Plans After Husband’s Presidency

                    Nigerian’s First Lady Aisha Buhari in Talks on Plans After Husband’s Presidency

                    Cedi expected to end 2020 with less than 5% depreciation to dollar Says Expert

                    Cedi expected to end 2020 with less than 5% depreciation to dollar Says Expert

                    “Citizen Gate is Designed to bring the government closer to the people”- Mr. Toba Otusanya, DG, Lagos State Office of Transformation, Creativity & Innovation

                    “Citizen Gate is Designed to bring the government closer to the people”- Mr. Toba Otusanya, DG, Lagos State Office of Transformation, Creativity & Innovation

                    I cherish and treasure my reputation for probity and accountability,– Dr. Babatunde Ajibade, SAN

                    I cherish and treasure my reputation for probity and accountability,– Dr. Babatunde Ajibade, SAN

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                      Home Featured

                      NNPC Declares N13.23bn Surplus for October

                      Public Sector Global by Public Sector Global
                      January 6, 2020
                      in Featured, Features, NEWS
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                      NNPC Declares N13.23bn Surplus for October
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                      The Nigerian National Petroleum Corporation (NNPC) recorded a trading surplus of N13.23billion in October 2019. This represented an increase of 54 per cent compared to N8.59 billion surplus posted in September 2019.

                       

                      The corporation disclosed this in its Monthly Financial and Operation Report (MFOR) for the month of October released recently. The report reflected the sustained streak of positive results in the operations of the National Oil Company. It added that the September 2019 trading surplus of N8.59 billion in turn indicated a significant increase of 65 per cent compared to the N5.20billion surplus posted in August 2019.

                       

                      The report noted that the August surplus also beat the N4.26billion surplus posted in July 2019, reflecting an increase of 22 per cent.

                      The report revealed that the October surplus was largely due to the improved trading surplus posted by its Upstream subsidiary, the Nigerian Petroleum Development Company (NPDC).

                       

                      On Crude oil and Gas sales, it said that a total Crude Oil and Gas export sales of 483.25 million dollars were made in October 2019.

                       

                      It said this was an increase of 35.77 percentage point, compared to September, implying that in October, Crude oil export contributed $396.94million (82.14 per cent) of the dollar transactions, compared with 267.97million dollars contribution in the September 2019. It noted that the export Gas sales for the month amounted to $86.32 million.

                       

                      “Overall, the October 2018 to October 2019 Crude Oil and Gas transactions indicated that Crude Oil and Gas worth 5.49 billion dollars was exported,’’ it said.

                       

                      In the Downstream Sector, it said that 1.16billion litres of Premium Motor Spirit(PMS) also known as petrol, translating to 37.30mn liters/day, were supplied for the month.

                       

                      It noted that the corporation had continued to monitor the daily stock of PMS in order to achieve smooth distribution of petroleum products and zero fuel queue nationwide.

                       

                      The report said that in October 2019, 35 vandalized-pipeline points, representing a decrease of 81 per cent from the 186 vandalized-points in September 2019, were recorded.

                       

                      “Out of the vandalised points, eight failed to be welded, while only one pipeline was ruptured, with Ibadan-Ilorin axis accounting for 34 per cent of the breaks.

                       

                      “ATC-Mosimi and other routes accounted for 23 per cent and 43 per cent, respectively,’’ the News Agency of Nigeria quoted the report to have stated.

                       

                      In the Gas Sector, the report stated that out of the 235.82 billion Cubic Feet (BCF) of gas supplied in October 2019, a total of 134.97 BCF of gas was commercialized, consisting of 31.37 BCF for domestic market and 103.60 BCF for export market.

                       

                      SOURCE: NNPC

                      Tags: NNPC Declares N13.23bn Surplus for October
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