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By Prince Okafor
The Nigerian National Petroleum Corporation (NNPC) has disclosed that its trading surplus for the month of February 2021 increased to N39.85 billion.
This is an increase of 314.24 percent when compared to N9.62 billion surplus recorded in the preceding month under review.
Trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue for the period under review.
According to the Corporation’s February 2021 Monthly Financial and Operations Report (MFOR), NNPC Group operating revenue as compared to January 2021, increased by 35.64% or N 152.07billion to stand at N578.79billion. Similarly, expenditure for the month increased by 29.21% or N121.83billion to stand at N538.94billion. The expenditure for the month as a proportion of revenue was 0.93% as against 0.98% the previous month.
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