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NNPC Records ₦141.96bn Trading Surplus
The Nigerian National Petroleum Company (NNPC) Limited has announced a huge leap in trading surplus of ₦141.96billion recorded in June 2021 compared to a deficit of ₦37.46Billion in May 2021.
This is contained in the June 2021 figures of the NNPC Monthly Financial and Operations Report (MFOR).
A trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue for the period under review.
In June 2021, NNPC Group operating revenue as compared to May 2021, decreased by 9.07% or N89.27billion to stand at N894.64billion. Similarly, expenditure for the month decreased by 29.32% or N299.44billion to stand at N721.93billion.
Thus, in the period under review, expenditure as a proportion of revenue was 0.81%, compared to the figure in May which stood at 1.04%.
The report also noted that the increase in trading surplus was due mainly to the increased sales of crude oil and gas by the Nigerian Petroleum Development Company (NPDC), an Upstream subsidiary of the NNPC, and the increased gas sales and depreciation postings by the Nigerian Gas Company (NGC).
The positive outlook was further bolstered by the performance of Duke Oil and the Nigerian Gas Marketing Company (NGMC) which also added to the improved bottom line.
Trading surplus or trading deficit is derived after deduction of the expenditure
profile from the revenue for the period under review.
According to the report, in
plus or trading deficit is derived after deduction of the expenditure
profile from the revenue for the period under review.
According to the report, in
To ensure continuous supply and effective distribution of Premium Motor Spirit (PMS) across the country, a total of 1.63bn litres of PMS translating to 54.50mn liters/day were supplied in June 2021.
The report indicated that in June 2021, 47 pipeline points were vandalized representing 26.56% decrease from the 64 points recorded in May 2021. Port Harcourt Area accounted for 43%, while Mosimi and Kaduna Areas accounted for 51% and 6% respectively of the vandalized points.
In the gas sector, a total of 223.77billion cubic feet (bcf) of natural gas was produced in the month of June 2021 translating to an average daily production of 7,459.88million standard cubic feet per day (mmscfd).
For the period of June 2020 to June 2021, a total of 2,890.11bcf of gas was produced representing an average daily production of 7,321.36mmscfd during the period.
Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed 59.84%, 20.26% and 19.90% respectively to the total national gas production.
The 71st edition of the MFOR highlights NNPC’s activities for the period of June 2020 to June 2021.
In line with its commitment to transparency and accountability, NNPC has continued to sustain effective communication with stakeholders through this report via publications on its website, independent online news portals and in national dailies.
FirstBank, the West African premier financial institution and financial inclusion services provider, has emerged as Nigeria’s Best Bank for Environmental, Social, and Governance (ESG) at the prestigious Euromoney Awards for Excellence 2025, held recently in London. This marks FirstBank’s second consecutive win in the ESG category, affirming its leadership in sustainable finance and responsible banking across Nigeria.
The Euromoney Awards for Excellence are regarded as one of the most coveted accolades in the global financial industry. The highly competitive selection process involves rigorous analysis and assessment, measuring performance against strategic and impact-oriented criteria.
The Bank earned the award through its deepened sustainability commitments embedded across its operations and community initiatives. In 2024, FirstBank screened 237 transactions worth over ₦3 trillion for sustainability risks, integrating ESG considerations into its credit framework.
Among its flagship sustainability initiatives, FirstBank commenced a tree planting campaign in partnership with Nigeria Conservation Foundation (NCF), planting over 30,000 trees in 16 locations across Nigeria. This was the first phase of its 50,000-tree initiative, projected to absorb approximately 720 tonnes of CO₂ by the end of 2025, contributing to climate resilience and supporting biodiversity preservation.
FirstBank has been proactive in gender inclusion through the Gender Market Strategy, disbursing over ₦43 billion FirstGem loans to women-led businesses in 2024. The Bank’s commitment to inclusive banking saw a significant increase in the worth of transactions facilitated by FirstMonie agents to over ₦9 trillion.
The Bank prioritises ESG/sustainability capacity building, evidenced by the training of over 9000 employees, and its webinars and workshops reaching over 2,000 SMEs and corporates. The bank’s investment in leadership for over 2,000 female employees through the FirstBank Women Network has demonstrated a dedicated structural commitment to cultivating a knowledgeable and diverse workforce catering to the dynamic ESG landscape.
Commenting on the award, the Chief Risk Officer of the Bank as well as the Chairman of the FirstBank Sustainability Committee, Patrick Akhidenor said, “We are honoured to receive this prestigious award for the second time in a row, which is a validation of our efforts to create a sustainable and inclusive future for all our stakeholders. Our approach to sustainability is hinged on three pillars: education, health and welfare; diversity and financial inclusion; responsible lending, procurement and climate initiatives”
He added: “We remain focused on driving impact through purposeful initiatives and inclusive growth, ensuring that our ESG efforts continue to create meaningful change in communities across Nigeria and beyond.”
The continued success in ESG and sustainability is driven by FirstBank’s vision to be Africa’s bank of first choice, leading with purpose, responsibility, and innovation.
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Photo © 2025 – ASV Photography Ltd.
www.ASVphotos.comZenithBankPlchasbeennamed“Nigeria’sBestBank”attheEuromoneyAwardsforExcellence2025,emergingasNigeria’sstandoutperformer,andclinchingthebiggestandmost coveted country award. The award, which was presented to the bank on Thursday, July17,2025atThePeninsula,London,isatestament to its commitment to delivering exceptionalbanking services, innovative products and superior value to its customers and shareholders.Euromoney’s Awards for Excellence are one of the most highly coveted awards that matter tobanksandbankerswhomatter.TheannualAwardsforExcellencecelebratesfinancialinstitutions that demonstrate leadership, innovation, and resilience in their markets, with thisyear’seditionseeingarecordnumberofover770entriesfromworldclassfinancialinstitutionsincludingHSBC,MorganStanley,CitiBank,Barclays,StandardBankandDevelopment Bank of Singapore (DBS), amongst others.Commenting on the award, the Group Managing Director/Chief Executive of Zenith Bank Plc,Dame Dr. Adaora Umeoji, OON said, “We are absolutely thrilled to be recognized as Nigeria’sBestBankbyEuromoney.Thisawardisnotjustatestamenttoourrelentlesspursuitofexcellence, but also a validation of the unwavering trust and confidence our customers haveplaced in us. We are once again reminded that our success is not just about us, but about theimpact we continue to have on the financial ecosystem. We will continue to work tirelessly tosupportthegrowthanddevelopmentofoureconomyandupholdthehigheststandardsofgovernance, integrity and transparency that has earned us this recognition”.She dedicated the award to Zenith Bank’s customers across the globe for their loyalty, and tothe Founder and Chairman, Jim Ovia, CFR, for his visionary leadership and commitment toexcellencewhichformedthefoundationforthebank’ssuccesses.ShealsothankedtheBoardfortheirguidance,aswellasthestafffortheirunwaveringdedicationtobuildingaformidable and best in class global financial institution that will outlive generations.ZenithBank’strackrecordofexcellentperformancehascontinuedtoearnthebrandnumerous awards including being recognised as the Number One Bank in Nigeria by Tier-1Capitalforthesixteenthconsecutiveyearinthe2025Top1000WorldBanksRanking,publishedbyTheBanker.TheBankwasalsoawardedBankoftheYear(Nigeria)inTheBanker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020to2022, 2024and 2025,inthe GlobalFinance World’sBestBanks Awards;Best BankforDigitalSolutionsinNigeriaintheEuromoneyAwards2023;andwaslistedintheWorldFinance Top 100 Global Companies in 2023.Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in theInternationalBanker2023and2024BankingAwards.Additionally,ZenithBankhasbeen -
acknowledgedastheBestCorporateGovernanceBank,Nigeria,intheWorldFinanceCorporateGovernanceAwardsforfourconsecutiveyearsfrom2022to2025and‘BestinCorporateGovernance’FinancialServices’Africaforfourconsecutiveyearsfrom2020to2023 by the Ethical Boardroom.The Bank’s commitment to excellence saw it being named the Most Valuable Banking BrandinNigeria inThe Banker’sTop 500Banking Brandsfor 2020 and 2021,Bank ofthe Year 2023and2024attheBusinessDayBanksandOtherFinancialInstitutions(BAFI)Awards,andRetail Bank of the Yearfor three consecutive years from2020 to 2022 and in2024 at the BAFIAwards. The Bank also received the accolades of Best Commercial Bank, Nigeria and BestInnovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.ZenithBankwasalsonamedMostResponsibleOrganisationinAfrica,BestCompanyinTransparencyandReportingandBestCompanyinGenderEqualityandWomenEmpowerment atthe SERAS CSRAwards Africa 2024;Bank of theYear 2024by ThisDayNewspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME TradeFinance,2023byNairametrics.TheBank’sHybridOfferwasalsoadjudged‘RightsIssue/Public Offer of the Year’ at the Nairametrics Capital Market Choice Awards 2025
FirstBank, a leading financial institution and provider of financial inclusion services in West Africa, announces the achievement of ₦1 trillion in cumulative instant digital loan disbursements. This accomplishment further consolidates the Bank’s reputation for innovation, leadership in financial inclusion, and commitment to customer empowerment within.
Since its inaugural digital loan in August 2019, FirstBank has developed an unconventional and robust digital lending ecosystem designed with Artificial Intelligence and Machine Learning, to improve access to finance, especially to the high-risk customer segment. The Bank created a multi- channel loan disbursement service that requires no collaterals, zero documentation and is void of human interactions. Through its FirstAdvance, FirstCredit and AgentCredit products, 1.5 million unique borrowers enjoyed instant and secure access to credit. This is irrespective of whether they are salary earners, non-salary earners, or micro business owners. They also have the convenient options of accessing these loans through platforms such as *894# (FirstBank’s USSD service), FirstMobile, LitApp and the FirstMonie Agent App.
Regarding this milestone, Chuma Ezirim, Group Executive, e-Business & Retail Products at FirstBank, stated: “This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values. Beyond achieving substantial figures, we remain dedicated to fostering opportunities for financial independence across Nigeria in particular, and in Africa at large.’’
He added, “We value the trust our customers place in us to support their financial aspirations. Our efforts to advance digital lending will persist, especially to the excluded and underserved customer segments, while effectively managing risks in the process.”
FirstBank currently disburses about N1 Billion daily in digital loans, demonstrating its commitment to fostering an inclusive, technology-driven future for Nigerians. By consistently investing in advanced technologies and developing customised financial solutions, the Bank seeks to improve the financial well-being of individuals and businesses across the nation.
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