November 24, 2025
The Nigerian National Petroleum Company Limited, NNPCL, has announced a Profit After Tax of N5.4 trillion from total revenue of N45.1 trillion for the full year ended 2024.
NNPCL”s Chief Corporate Communications Officer, Andy Odeh, disclosed this in a statement on Monday.
The statement, indicated that “The results, shared during its earnings call with analysts, underscore a year of strong operational delivery.”
It also stated that the company unveiled its strategic roadmap to drive sustained growth and support Nigeria’s energy transition through 2030.
“The plan prioritises increased oil and gas production and outlines a $60 billion investment pipeline across the energy value chain,” NNPC Ltd stated.
READ MORE; NNPCL Refutes Proposed Sale Of Nigeria’s Port Harcourt Refinery.
In reviewing the company’s strong financial performance in 2024, NNPC’s results, the statement said, highlighted a surge in revenues and profits, signalling improved cost discipline, enhanced asset performance, and growing operational stability.
Notable key numbers include:
Revenue: N45.1 Trillion, 88% year-on-year growth
Profit After Tax: N5.4 Trillion, 64% year-on-year growth
Earnings Per Share: N27.07, 64% year-on-year growth
For the Group Chief Executive Officer, Bashir Bayo Ojulari, “The earnings highlight the positive momentum of our ongoing transformation and the unwavering commitment of our workforce,”
“They offer a solid foundation for the ambitious growth ahead, in line with President Bola Ahmed Tinubu’s mandate, and reaffirm our commitment to delivering value to Nigerians.”
Achieving a roadmap for sustained growth and energy security, NNPCL, in the statement said, is accelerating investments across upstream operations, gas infrastructure, and clean energy to extend growth into the next decade.
Key strategic targets to attaining the sustainable growth include:
Increasing crude oil production to 2 million barrels per day (bpd) by 2027 and 3 million bpd by 2030.
Growing natural gas production to 10 bcf/d by 2027 and 12 bcf/d by 2030 and completing major gas infrastructure projects such as Ajaokuta-Kaduna-Kano (AKK), Escravos-Lagos Pipeline System (ELPS) and Obiafu-Obrikom-Oben (OB3) pipelines to strengthen domestic supply and regional integration.
Mobilising $60 billion in investments across the upstream, midstream, and downstream sectors by 2030.
Ojulari added, “Our transformation is anchored on transparency, innovation, and disciplined growth,”
“We are positioning NNPC Limited as a globally competitive energy company capable of delivering sustainable returns while powering the future of Nigeria and Africa.”
NNPC Ltd, in October posted a revenue of N4.27 trillion and a profit after tax of N216 billion for September 2025, reflecting a solid financial performance across its operations.
Through strategic partnerships aimed at driving Africa’s energy transformation, NNPCL, earlier this month, set a target of attracting $60 billion in investments by 2030.
