The Nigerian Nationwide Petroleum Company (NNPC) says it has recorded a 99.7 per cent discount in its loss profile from ₦803billion in 2018 to ₦1.7billion in 2019.

NNPC disclosed this in its 2019 Audited Monetary Assertion (AFS), launched by Dr kennie Obateru, spokesman for the company, in Abuja, on Thursday.

It is going to be recalled that the company in Could revealed its 2018 AFS and guaranteed of fast launched of the 2019 report.

This, In line with NNPC Group Managing Director Malam Mele Kyar was in keeping with effort to make sure transparency and accountability in its operations.

Obateru, quoted the NNPC Chief Monetary Officer (CFO), Mr Umar Ajiya, as saying that the 2019 AFS was concluded 5 months after the discharge of that of 2018.

He mentioned that the 2019 report could be revealed on the Company’s web site for all to see consistent with the administration’s dedication to transparency and accountability.

This, he added was additionally in consonance with the ideas of the Extractive Industries Transparency Initiative (EITI) of which it was a associate.

A breakdown of the report disclosed that common administrative bills additionally witnessed a 22 per cent dip from ₦894bn in 2018 to ₦696bn in 2019.

In line with Ajiya, majority of the subsidiaries posted improved efficiency.