Seplat Energies raked in N885.1 billion in total comprehensive income – the combined earnings that companies receive from unexpected gains in addition to profit – after the energy giant turned Nigeria’s foreign exchange crisis into its advantage.
According to the corporation’s audited books released on Thursday, total comprehensive income surged more than eight times from N106.5 billion the preceding year.
For an energy giant that generates its revenue mostly from the dollar, the pretty strong performance owed its debt to jumbo earnings from crude oil sales on converting the proceeds from the dollar into naira.
