The Nigerian National Petroleum Company Limited (NNPC) has resumed its long-suspended monthly financial reporting by releasing its performance details for April 2025.
The development signifies a shift toward transparency under the leadership of Bayo Ojulari, appointed by President Bola Tinubu on April 2, 2025.
According to the April report, NNPC recorded a total revenue of ₦5.89 trillion, with a profit after tax (PAT) of ₦748 billion.
Petrol availability at its nationwide retail stations stood at 54 per cent for the month.
The move is widely seen as a fresh start for the national oil company, which has long been criticized for shielding revenue reporting, subsidy payments, contract disclosures, and overall financial management.
In Q1 2025, NNPC said it made statutory payments totaling ₦4.225 trillion to the federal government.
As part of its strategic roadmap, NNPC plans to finalize four major investment projects by the end of 2025.
These include the Ntokon Development Project (OML 102), Crude Oil Expansion Project (OML 29), Gas Projects (OMLs 30 and 42), and the Brass Fertiliser Project—aimed at boosting local fertiliser production, reducing imports, and strengthening agricultural productivity.
While crude oil and condensate production dipped to 1.61 million barrels per day in April (down from 1.67 mbpd in January), natural gas output increased to 7,354 million standard cubic feet per day, up from 7,120 mmscf/d in February.
The report also detailed progress on key infrastructure, including the Ajaokuta-Kaduna-Kano (AKK) and Oben-Obiafu-Obrikom (OB3) gas pipelines.
OB3 is reportedly 95% complete, and AKK is at 70%, with major work done on River Niger crossings.
Upstream pipeline availability was recorded at 97%, indicating strong infrastructure reliability. In the refining sector, assessments continue on Port Harcourt, Warri, and Kaduna refineries, while Turnaround Maintenance (TAM) has been completed on critical Oil Mining Leases: OMLs 18, 58, 118, and 133.
On the social front, the NNPC Foundation said 531 NYSC members received solar starter packs under its empowerment initiative.
In addition, 83 ICT trainees and 170 creative industry participants were equipped with business kits.
Over 2,000 people also benefited from free cataract surgeries, and hospital wards were rehabilitated at the National Orthopaedic Hospital in Igbobi.
The company emphasized that the reported crude oil and gas figures are provisional and unaudited, reflecting only NNPC’s internal data, excluding figures from independent operators regulated by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
(vitalnewsngr.com)
