The Nigerian National Petroleum Company Limited, NNPC, recorded a remarkable resurgence in transparency and performance in April 2025, reporting ₦5.89 trillion in total revenue and a Profit After Tax of ₦748 billion under the new leadership of Bayo Ojulari.
This development marks a significant departure from previous years, during which the company suspended its regular public financial disclosures without explanation.
In a detailed activity report released Thursday, NNPC outlined not only its financial milestones but also plans for future growth, including four major projects heading toward Final Investment Decision status before the end of the year.
The strong performance came just two months after Ojulari assumed office as CEO of the 48-year-old state oil firm.
“NNPC is pleased to announce that in the month under consideration, the total revenue of the company reached ₦5.89 trillion,” the report stated, highlighting renewed commitment to transparency and operational accountability.
Also noted in the report was a 54% fuel availability rate across NNPC retail stations nationwide, signaling moderate improvement in fuel distribution amid long-standing supply challenges.
The company’s statutory payments to the federal government for Q1 2025 totaled ₦4.225 trillion. NNPC also reaffirmed its alignment with the federal government’s strategic oil goals: President Bola Tinubu had previously set targets of \$60 billion in oil and gas investment by 2030, an oil production milestone of 2 million barrels per day by 2027, and 3 million barrels daily by 2030.
The firm’s renewed drive toward transparency, paired with an aggressive expansion strategy, includes the following projects expected to reach FID in Q4 2025:
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* **OML 102 Crude Oil Production Expansion Project**
* **OML 29 Gas Development Project**
* **OMLs 30 & 42 Joint Gas Development Projects**
* **Brass Fertiliser Project and Ntokon Development in Oil Mining Lease**
NNPC’s leadership emphasized that these projects will significantly boost Nigeria’s oil and gas output, support energy security, and attract new foreign investment into the petroleum sector.
The report also reflects a shift in corporate culture under Ojulari’s leadership, aiming to reposition NNPC not only as a profit-oriented entity but also as a model of accountability and national pride. In a sector often dogged by opacity and controversy, the return to monthly performance reporting signals a major change in posture and policy.
As Nigeria seeks to consolidate its status as Africa’s energy powerhouse, industry watchers will be monitoring how these strategic initiatives impact long-term performance, production capacity, and investor confidence in the nation’s most critical revenue-generating entity.
TheGuardian
