NNPC reports N748bn profit, major infrastructure progress in April

By Seun Ibiyemi

The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported a profit after tax of N748 billion and total revenue of N5.891 trillion for April 2025, according to its latest monthly performance report released on Thursday.

The state-owned energy firm confirmed that it made statutory payments totalling N4.225 trillion between January and March this year.

The report detailed that Nigeria’s crude oil and condensate production averaged 1.6 million barrels per day in April, while natural gas output was recorded at 7,473 million standard cubic feet per day (mmscf/d).

Fuel availability across NNPC’s retail network stood at 54 percent during the period, while upstream pipeline infrastructure maintained an availability rate of 97 percent.

Significant strides were also made in pipeline development. The Obiafu-Obrikom-Oben (OB3) Gas Pipeline project is now 95 percent complete, while the Ajaokuta–Kaduna–Kano (AKK) Natural Gas Pipeline has reached 70 percent completion.

NNPC confirmed that technical interventions were made to address challenges associated with crossing the River Niger on both the AKK and OB3 projects. Additionally, Turn Around Maintenance (TAM) was finalised in April for Oil Mining Leases (OMLs) 18, 118 and 133.

In terms of refinery operations, the report noted that assessments are ongoing at the Port Harcourt, Warri and Kaduna refineries, with no further details provided on timelines for rehabilitation or recommencement of operations.

“All financial figures are provisional and unaudited. All operational and financial data are for April 2025 unless indicated otherwise,” the report clarified.

Looking ahead, NNPC outlined several key Final Investment Decisions (FIDs) expected in 2025. These include the Ntokon Development Project (OML 102), the Crude Oil Production Expansion Project (OML 29), multiple gas development projects across OML 30 and 42, and the Brass Fertilizer project, which is approaching financial close.

The company also drew attention to its community-focused programmes carried out through the NNPC Foundation. Under the NNPC/NYSC Business Empowerment Initiative, 531 National Youth Service Corps members received solar-powered business starter packs.

Moreover, 83 trainees in information and communication technology and 170 participants from the creative sector were equipped with business starter kits to promote entrepreneurship. In the health sector, the foundation facilitated cataract surgeries for 2,005 beneficiaries and oversaw the refurbishment of three wards at the National Orthopaedic Hospital in Igbobi.

NNPC reiterated that all oil and gas production data presented in the report pertain solely to its own operations and exclude figures from independent operators, which are tracked separately by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).