Nigeria, Sept. 11 -- In its first full-year result since its controversial acquisition deal, NNPC Retail Limited incurred a loss of N395.5 billion, according to its financial statement seen by PREMIUM TIMES.

This contrasts with the N20.18 billion profit the company recorded in its 2022 financial statement, before it controversially acquired OVH mid-2023 and transferred the management of NNPC retail to the acquired company.

"The company reported a loss after tax of N395.5 billion for the year ended 31 December 2024 (2023: profit after tax of N20.18 billion).

"As at 31 December 2024, the company is in a net liability position of N278.8 billion (2023: N79.51 billion) and a net current liability position of N423.6 billion (2023: net curren...