In a renewed push for transparency, the Nigerian National Petroleum Company Limited (NNPC Ltd) on Thursday released its operational and financial report for April 2025, the first such disclosure in years.
The Bayo Ojulari-led company, appointed by President Bola Tinubu on April 2, reported a total revenue of N5.89 trillion for the month. Profit After Tax (PAT) stood at N748 billion, while petrol availability across NNPC retail outlets nationwide was recorded at 54 percent.
The release of the monthly report marks a significant shift for the national oil company, which had stopped publishing its operations data for years despite pressure from the media and civil society. NNPC has long faced criticism over a lack of transparency in revenue reporting, crude oil sales, subsidy payments, and contract processes.
The April report also showed that statutory payments to the federal government for the first quarter of 2025 amounted to N4.225 trillion. The disclosures come as the new leadership aims to rebuild public trust and meet ambitious targets set by President Tinubu, including a $60 billion investment goal by 2030 and oil production targets of two million barrels per day by 2027 and three million by 2030.
NNPC also disclosed plans to reach Final Investment Decisions (FIDs) on four major projects before the end of the year. These include the Ntokon Development Project in Oil Mining Lease (OML) 102, the Crude Oil Production Expansion Project (OML 29), Gas Development Projects in OMLs 30 and 42, and the Brass Fertiliser Project, which is expected to boost local fertiliser production, reduce import dependency, and support agriculture.
In April, crude oil and condensate production was 1.61 million barrels per day, a drop from the 1.67 million recorded in January. However, natural gas production increased to 7,354 million standard cubic feet per day, up from 7,120 million in February.
The report provided updates on major infrastructure projects, noting progress on the Ajaokuta-Kaduna-Kano (AKK) and Oben-Obiafu-Obrikom (OB3) gas pipeline projects. OB3 was reported to be 95 percent complete, while AKK stood at 70 percent. Upstream pipeline availability was reported at 97 percent, indicating improved infrastructure reliability.
NNPC said reviews are ongoing at the Port Harcourt, Warri, and Kaduna refineries, while Turnaround Maintenance (TAM) was completed in April for key oil leases including OMLs 18, 58, 118, and 133.
The company also outlined its social impact efforts through the NNPC Foundation. A total of 531 National Youth Service Corps (NYSC) members received solar power starter packs under the NNPC/NYSC Business Empowerment Initiative. In addition, 83 ICT trainees and 170 creative industry talents were given business starter kits.
In the health sector, 2,005 individuals received cataract surgeries, while three hospital wards were rehabilitated at the National Orthopaedic Hospital, Igbobi.
NNPC noted that all crude oil and gas figures in the report were provisional, unaudited, and based solely on company data, excluding contributions from independent operators regulated by the Nigerian Upstream Petroleum Regulatory Commission.
Nzubechukwu Eze
