Leveraging the balance sheet allows NNPC to quickly expand into other markets and products, especially in fragmented industries… … This statements will have a short-term positive impact on this entity, which adds to its value. This qualitative factor will lead to a decrease in costs. This statement will lead to an increase in profits for this entity. "Financial Leverage (NNPC)" is an easily defendable qualitative factor, so competing institutions will have a difficult time overcoming it.