Loses at NNPC hit N551.46b in four years NNPC tower The Nigerian National Petroleum Corporation (NNPC) recorded loses in the region of N551.46b from January 2015 to December 2018. Details of financial records published on the company’s website revealed that the national oil company repeatedly failed to meet projected profits as its subsidiaries, particularly refineries, running cost at the headquarters and other arms left whopping deficits. The corporation recorded N267.14b loss in 2015. The figure stood at N197b in 2016. In 2017, data from its financial statements showed N82b in operational losses, while a deficit of N5.46b was posted for January and August in 2018. While the company has excluded key details such as taxes and figures from the Nigeria Liquefied Natural Gas (NLNG) Ltd, it has continually failed to perform when compared to other national oil companies in Africa and other parts of the world. Though the firm recorded a trade surplus of N80.57b last year, operat...