Monthly Commitee Reports - January 2023

 

FINANCE REPORT HIGHLIGHTS

1. Purchases declined in the month of January 2023 – From N47.3m in December 2022 to N41.9m in January 2023.
2. We spent less in purchasing diesel in January 2023 (N27.3m) because we still had a reasonable amount of diesel carried over from December 2022 (N43.6m). This is also a reflection of our 30-day credit payment term for diesel.
3. Diesel consumption in January 2023 rose considerably when compared to our consumption in December 2022. Diesel consumption in January 2023 was N33.9m compared to N22.8m in December 2022.
4. Our EKEDC Bill declined slightly from N20.1m for December 2022 to N19.5m for January 2023.
5. We have paid our loan repayment installment of N12.4m due in January 2023. After this payment, our outstanding loan obligation is N20.7m.
6. Following the last meeting, we are strongly working towards prepaying the outstanding loan obligation earlier than the last installment date.