NNPC Limited records ₦748bn profit after tax in April

Summary

• National oil company posts ₦5.89tn revenue, driven by steady oil and gas production
• Crude oil production rises slightly to 1.61 million barrels per day
• Major infrastructure projects OB3 and AKK reach 95% and 70% completion respectively

Abuja, Nigeria — NNPC Limited has announced a profit after tax of ₦748 billion for April 2025, as part of a robust financial performance driven by increased production and strategic infrastructure developments.

The company’s revenue for the month stood at ₦5.891 trillion, with statutory payments totaling ₦4.225 trillion for the first quarter of the year.

Crude oil and condensate production averaged 1.606 million barrels per day, reflecting a modest increase from March’s 1.56 million barrels per day. Natural gas production also rose to 7,473 million standard cubic feet per day (mmscf/d), up from 6,928 mmscf/d the previous month.

NNPC Limited attributed the production stability to collaborations with venture partners and the implementation of presidential directives to enhance upstream operations.

Technical milestones were also achieved on key pipeline projects: the OB3 pipeline is now 95% complete, while the AKK pipeline stands at 70% completion, following interventions at the River Niger crossing points.

Turnaround maintenance was successfully completed in April for several key assets, including OMLs 18, 58, 118, and 133. Refinery rehabilitation efforts at the Port Harcourt Refining Company (PHRC), Warri Refining and Petrochemical Company (WRPC), and the Kaduna Refining and Petrochemical Company (KRPC) are ongoing.

Looking ahead, the company has scheduled final investment decisions (FIDs) for several major developments in Q4 2025. These include the Ntokon Development (OML 102), the crude oil production expansion project (OML 29), and gas projects in OMLs 30 and 42. A financial close is also expected for the Brass Fertilizer project.

Beyond operations, the NNPC Foundation reported several public impact initiatives in the month. These include the empowerment of 531 NYSC members with solar starter packs, ICT and creative industry starter kits for over 250 trainees, and cataract surgeries restoring sight for 2,005 individuals.

Additionally, the foundation renovated hospital wards, commissioned science libraries, and trained nearly 4,000 farmers in climate-smart agriculture.

All operational and financial figures in the report are provisional and unaudited.