The Nigerian National Petroleum Company Limited (NNPCL) has released its monthly performance report for April 2025, announcing a substantial revenue of N5.89 trillion for the period under review.
According to the report released via the company's X account on Thursday, NNPCL recorded a Profit After Tax (PAT) of N748 billion. The state-owned oil firm also reported crude oil and condensate production at 1,606 barrels per day, while natural gas production stood at 7,473 million standard cubic feet per day.
The report further revealed that NNPCL made statutory payments amounting to N4.225 trillion between January and March 2025, highlighting the company's significant contribution to national revenue.
Infrastructure Development Progress
In terms of infrastructure development, the Obiafu-Obrikom-Oben Gas Pipeline (OB3) has reached 90 percent completion, while the strategic Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project stands at 70 percent completion.
The report also indicated that petrol availability in NNPCL retail stations nationwide stood at 54 percent, while upstream pipeline availability was recorded at an impressive 97 percent as of April 2025.
This performance report marks the first under the leadership of Bayo Ojulari, who was appointed by President Bola Ahmed Tinubu on April 2, 2025. The transparency demonstrated through this report comes amid longstanding complaints by Nigerians about the opacity of NNPCL operations over the past 48 years.
Industry analysts note that this level of financial disclosure represents a positive step toward greater accountability in Nigeria's oil sector, which has historically faced criticism for lack of transparency.
BenriNews reports that stakeholders in the oil and gas sector have welcomed this development, with many expressing hope that regular performance reporting will become standard practice for the national oil company moving forward.
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