From 2015 to 2020, Seplat Nigeria Plc realised the highest profit before tax(PAT) in 2019, which stood at N89.9 billion. The lowest PAT was in 2017 which was N13.4 billion.
In 2015, the organisation made a profit (before tax) of N17.2 billion but after the payment of N4.2 billion on taxation, the profit for that year fell to N12.9 billion. By the following year, the organisation’s profit before tax grew by 36.3 per cent to N47.4 billion. The taxed amount for the same year was N2 billion which resulted in the profit for the year to fall slightly to N45.3 billion.
The organisation’s profit before tax in 2017 declined greatly from the previous year. The income tax credit for that year was N67.6 billion which led to a N81.1 billion profit for the year amount. The year 2018 had the second highest profit before tax at N80.6 billion but this amount fell after tax charges of N35.7 billion, to N44.8 billion.
In 2019, the taxed amount from the profit before tax was N8.9 billion, making the profit for the year fall to N80.9 billion. There was an income tax credit of N1.8 billion the following year in addition to its N28.8 billion profit before tax, amounting to a N30.7 billion profit for the year.
