The Nigerian National Petroleum Company (NNPC) Limited has announced a remarkable net profit of N748bn for April 2025.
The development marks one of NNPC’s most significant financial disclosures since Bayo Ojulari resumed the role of chief executive at the state-owned energy company.
This figure was disclosed in its latest Monthly Financial and Operational Report (Mofor), released on Thursday, June 12.
According to the report, profit after tax stood at N748bn (~$623.3m), while total revenue for the month reached N5.89 trn (~$4.91bn).
Oil & gas production highlights
NNPC’s operational metrics showed robust performance in April:
Crude oil and condensate output rose to approximately 1.61 million barrels per day (mmb/d), reflecting an 8.19% increase from the 1.56 mmb/d recorded in March.
Natural gas production hit 7,354 million cubic feet per day (mmcf/d), up by 5.79% compared to 6,928 mmcf/d in March.
Infrastructure and project updates
The report provided updates on key infrastructure and pipeline projects:
- Petrol availability across NNPC retail outlets: 54%
- Upstream pipeline availability: 97%
- OB3 gas pipeline project completion: 95%
- AKK gas pipeline progress: 70%
NNPC also noted strategic interventions in overcoming technical challenges, especially those concerning River Niger crossings on both the OB3 and AKK projects.
It confirmed the completion of turnaround maintenance on key assets, including OML 18, OML 118, and OML 133.
Upstream and refinery activities
The company reiterated its commitment to upstream development by implementing various presidential directives and executive orders aimed at enhancing production sustainably in partnership with venture collaborators.
As for refineries, reviews are ongoing for the:
- Port Harcourt Refinery
- Warri Refinery
- Kaduna Refinery
Future investment plans
Looking ahead, NNPC disclosed plans to reach Final Investment Decisions (FID) on several strategic projects in Q4 2025, including:
- Ntokon development project (OML 102)
- Crude output expansion at OML 29
- Gas development in OML 30 and OML 42
Additionally, financial closure is expected for the Brass Fertiliser Plant in Bayelsa State within the same quarter.
Note on data validity
NNPC emphasized that all financial and operational figures in the Mofor for April 2025 remain provisional and unaudited, and represent only data attributable to NNPC Limited.
Volumes from independent operators, as reported by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), were not included.