Three figures for NNPC Limited latest monthly report answer three different questions about Nigeria national oil company. Di summary wey come out on 3 November put September revenue at ₦4.608 trillion and profit after tax at ₦509 billion. One much bigger figure for di same paper cover payments for longer period.
Revenue na wetin di company record from im business before dem comot costs. Profit after tax na wetin remain after expenses and tax. With these figures, NNPC record about ₦11 profit for every ₦100 revenue for September. Na di whole business for one month dis calculation cover. E no tell you di gain on top one litre of petrol.
NNPC say payments wey law require from January reach September amount to ₦11.14 trillion. You no fit compare dat figure directly with September profit like say both of dem measure money wey di company earn for di same month. E no show how much of September profit dem fit share either. NNPC say dem fit still adjust di money, sales and production figures.
For production too, di difference matter. Crude oil and condensate together average about 1.70 million barrels per day. Di bigger total of 3.04 million barrels of oil equivalent per day include natural gas wey dem convert to di same energy unit. E no mean say Nigeria produce 3.04 million barrels of crude oil every day.
Di pipeline update separate work wey finish from work wey still dey go on. NNPC say dem commission di part of Obiafu–Obrikom–Oben gas pipeline wey cross River Niger and e don start work. For di separate Ajaokuta–Kaduna–Kano project, dem report construction and tests before di first gas wey dem plan to send Abuja. Di summary no announce say delivery don start.
Wetin e mean for you. If you dey compare headlines about NNPC, first check di period and then check di unit. Payment for nine months, one month profit and daily estimate of energy production fit all correct at di same time. None of dem set di price wey motorist go meet today for petrol station for Epe.