By Solomon Asowata
Lagos, July 22, 2021 The National Engineering and Technical Company (NETCO), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has reported a profit before tax of N3.37 billion for the year ended Dec. 31, 2020.
Naija247news reports that Mr Adeyemi Adetunji, Chairman, Board of Directors, NETCO, made the disclosure on Thursday at the company’s 2020 Annual General Meeting in Lagos.
Adeyemi said the profit before tax rose by 53 per cent when compared with N2.20 billion achieved in the corresponding of 2019.
Adetunji noted that 2020 witnessed the COVID-19 pandemic which led to socio-economic and humanitarian crisis worldwide thereby bringing economic activity to a near standstill.