Finance costs skyrocket 300% to ₦1.75trn, pressure NNPC Ltd margins

The Nigerian National Petroleum Company Limited (NNPC Ltd) has delivered a landmark financial performance for the 2024 fiscal year, posting record-breaking revenue and profit figures. The results underscore the impact of higher crude output, sector-wide reforms under the Petroleum Industry Act (PIA), and the strategic emergence of domestic refining capacity, most notably the Dangote Petroleum ...