NNPC, accounting for fuel subsidy, By Uddin Ifeanyi
While two different lines, a ₦5 trillion rise in other income, and a ₦1 trillion fall in general and administrative expenses, explain this seeming contradiction, the resulting problem is not that the increase in the corporation’s profit last year did not come from increased sales or gross profits.7 trillion, last year, it remained substantial.2 trillion last year, despite a 23 per cent drop in revenue from ₦45.
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