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NNPC’S declaration of profits will boost investor confidence, says industry expert

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An oil and gas expert, Mr Wilson Opuwei, says the recent declaration of profit after tax of N287 billion for the year 2020 by the Nigerian National Petroleum Corporation (NNPC) will boost investor confidence in the oil and gas sector.

Opuwei, who is the Chief Executive Officer of Dateline Energy Services Limited, made the assertion on Wednesday in an interview with the News Agency of Nigeria (NAN, in Lagos.

“It is great that the NNPC is now opening up its books to auditors for us to see how the company is being run. “For the NNPC to declare profit in its audited reports, is a big plus for the industry because it will attract more investments,” Opuwei said.He said it was, however, surprising that some people had been criticising the report, without a proper understanding of its significance.

 

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