NNPC Posts Record ₦748bn Profit For April 2025, Signals Robust Growth.
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a remarkable profit after tax (PAT) of ₦748 billion for April 2025, alongside a staggering revenue of ₦5.89 trillion. The figures, revealed in the company’s Monthly Report Summary for April 2025, released on Thursday, underscore NNPC’s strong financial performance and renewed commitment to transparency under its new leadership, led by Group Chief Executive Officer Bayo Ojulari.
The report highlights a robust operational performance, with crude oil and condensate production averaging 1.61 million barrels per day (bpd) in April, slightly up from 1.56 million bpd in March, though lower than January’s 1.67 million bpd. Natural gas production reached 7.47 million standard cubic feet per day (mmscf/d), an increase from 6.93 mmscf/d in March, reflecting steady upstream output. NNPC clarified that these figures exclude data from independent operators, as reported by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and all financial figures remain provisional and unaudited.
In addition to its financial success, NNPC made significant strides in infrastructure development. The Obiafu-Obrikom-Oben (OB3) gas pipeline reached 95% completion, while the Ajaokuta-Kaduna-Kano (AKK) pipeline hit 70%, with technical interventions resolving challenges at River Niger crossings. Turnaround maintenance was completed on key oil mining leases (OMLs 18, 58, 118, and 133), boosting production efficiency. However, the Port Harcourt, Warri, and Kaduna refineries remain under review, with no set timeline for rehabilitation completion. Petrol availability at NNPC Retail Limited stations stood at 54%, while upstream pipeline reliability was an impressive 97%.
The company also reported statutory payments of ₦4.225 trillion to the federation account between January and March 2025, highlighting its pivotal role in Nigeria’s economic framework. NNPC’s strategic initiatives included collaboration with venture partners to enhance sustainable production and the implementation of presidential directives for upstream operations. Looking ahead, the company is targeting final investment decisions (FIDs) in Q4 2025 for projects such as the Ntokon Development (OML 102), Crude Oil Production Expansion (OML 29), Gas Development Projects (OMLs 30, 42), and the Brass Fertilizer Project.
Beyond financial and operational achievements, NNPC’s Foundation made significant social impacts in April. The company empowered 531 NYSC Corps members with solar power starter packs, equipped 83 ICT trainees and 170 creative industry talents with business kits, and restored vision for 2,005 individuals through cataract surgeries in the South-East and South-South. Additionally, NNPC rehabilitated three hospital wards with a 100-bed capacity at the National Orthopaedic Hospital, Igbobi, and trained 3,860 farmers in climate-smart agriculture to enhance food security.
The April report marks NNPC’s continued financial turnaround, building on its 2023 audited results, which recorded a 28% profit increase to ₦3.297 trillion and a ₦2.1 trillion dividend. As Nigeria’s state-owned oil giant, NNPC’s performance signals optimism for energy security and economic growth, with plans to reach 2 million bpd in crude oil production by year-end.
