Nigeria's state petroleum giant has recorded extraordinary earnings of N5.4 trillion after tax, more than doubling the N2.2 trillion posted the previous year. Group Chief Executive Officer Bashir Bayo Ojulari disclosed the windfall at an Abuja briefing, attributing the surge to enhanced operational efficiency and naira devaluation effects that pushed total revenue to N45.1 trillion.
The company distributed N4.3 trillion in dividends while earnings per share reached N27.07. Ojulari expressed confidence about hitting ambitious targets of attracting $30 billion in investments and ramping up crude output to 2 million barrels daily by next year, with production potentially closing at 1.7 million barrels this year.
Management is conducting comprehensive reviews of national refineries to determine sustainable operational models, planning to engage experienced third-party partners who can transform the facilities into profitable ventures through rigorous engineering and commercial restructuring.
The company distributed N4.3 trillion in dividends while earnings per share reached N27.07. Ojulari expressed confidence about hitting ambitious targets of attracting $30 billion in investments and ramping up crude output to 2 million barrels daily by next year, with production potentially closing at 1.7 million barrels this year.
Management is conducting comprehensive reviews of national refineries to determine sustainable operational models, planning to engage experienced third-party partners who can transform the facilities into profitable ventures through rigorous engineering and commercial restructuring.
