Nigeria’s Oil Giant Pares Annual Loss After Slashing Costs
- NNPC releases audited annual accounts for just the second time
- Net loss narrows to 1.7 billion naira from 803 billion naira
Traffic passes the head offices of the Nigerian National Petroleum Corp. in Abuja.
Photographer: George Osodi/Bloomberg
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Nigeria’s state oil company said its annual loss shriveled to just a few million dollars last year as costs shrank across its operations.