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Saudi Aramco's $161 billion profit in 2022 and Lesson for Nigeria

Saudi Arabia explains with profits how nations can rise via natural resources: $161 billion profit in 2022, LinkedIn explains. Nigeria must re-learn please. At about $40 billion annual budget, that $161 billion will take care of Nigeria for four years, no borrowing!

Aramco has logged the largest annual profit ever achieved by an oil and gas company. The world’s largest oil company reported a colossal $161 billion last year, up almost 50% from 2021. The Saudi Arabian state-controlled energy giant's results are almost triple the blockbuster results logged by ExxonMobil. The figures were augmented by "soaring oil and gas prices" throughout 2022.

“This is probably the highest net income ever recorded in the corporate world,” Aramco CEO Amin Nasser said, on a Sunday earnings call

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