The Nigerian National Petroleum Company Limited on Thursday revealed that the total statutory payments it made to the federation account between January and March amounted to N4.22tn, adding that refinery upgrades and assessments were ongoing.
NNPCL further disclosed that it generated a total revenue of N5.89tn from operational activities in April 2025. The firm, in its first official financial report under the current leadership, said it posted a profit after tax of N748bn within the same period.
The report highlights the company’s operational performance, financial results, and strategic initiatives aimed at boosting Nigeria’s oil and gas sector. It also disclosed the plan to achieve final investment decisions on four projects in the upstream segment by the fourth quarter of the current year.
These projects include the Ntokon Development Project (OML 102) in Q4, the Crude Oil Production Expansion Project (OML 29) in Q4, Gas Development Projects in OMLs 30 and 42 in Q4, and financial close on the Brass Fertilizer Project.
Findings showed that the projects are crucial to improve production efficiency to 1.9 million barrels by year-end, grow revenues, and diversify Nigeria’s energy mix. Notably, the Brass Fertilizer Project is expected to meet rising domestic fertilizer demand, reduce imports, and enhance agricultural productivity.
According to the report titled “NNPC Limited Monthly Report Summary — April 2025,” released on Thursday, crude oil and condensate production stood at 1.61 million barrels per day, a marginal improvement from 1.56mbpd in March. Gas production also rose to 7,354 million standard cubic feet per day.
The company clarified that the figures reflect only its operations and exclude data from independent operators reported by the Nigerian Upstream Petroleum Regulatory Commission.
“All financial figures are provisional and unaudited,” the oil firm said.
According to the summary, statutory payments made to the federation account between January and March amounted to N4.22tn. The company said Premium Motor Spirit (petrol) availability at its retail stations stood at 54 per cent in April, while Pipeline availability was at 97 per cent, indicating improved infrastructure stability.
The report further revealed that NNPC completed several technical interventions on the Ajaokuta-Kaduna-Kano and OB3 pipelines to resolve legacy challenges in the River Niger crossings.
It said OB3 is now 95 per cent complete, while AKK stands at 70 per cent.
The company also disclosed that refinery upgrades and assessments were ongoing at the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and the Kaduna Refining and Petrochemical Company.
Under strategic efforts to boost upstream production, NNPC Limited noted that it completed Technical Asset Management reviews in April for key oil mining licences, including OML 18, OML 58, OML 118, and OML 133.
It explained, “Our strategic efforts include collaboration with venture partners to accelerate sustainable production enhancement. Completed the implementation of relevant Presidential directives and Executive orders for our upstream operations.
“Technical Interventions on AKK and OB3 to resolve challenges of River Niger crossings. Completed TAMs in April: OML 18, OML 58, OML 118, and OML 133.”
The NNPC also highlighted social impact initiatives through the NNPC Foundation. 531 National Youth Service Corps members were provided solar power starter packs under the NNPC/NYSC Business Empowerment Initiative.
Additionally, 83 ICT trainees and 170 creative industry talents received business starter kits to foster innovation. In healthcare efforts, 2,005 individuals benefited from cataract surgeries, while three hospital wards were rehabilitated at the National Orthopaedic Hospital, Igbobi.
“NNPC Foundation Public Impact Initiatives empowered 531 NYSC Corps Members with solar power starter packs, igniting a new generation of clean energy entrepreneurs under the NNPC/NYSC Business Empowerment Initiative. Equipped 83 ICT trainees & 170 creative industry talents with business starter kits, driving youth innovation across Nigeria’s digital and creative economies
“Restored vision for 2,005 individuals through cataract surgeries in the South-East and South-South, delivering dignity, hope, and new beginnings. Rehabilitating 3 hospital wards with 100-bed capacity at National Orthopaedic Hospital, Igbobi, advancing access to quality healthcare, and saving lives.
“Commissioned STEM books and science libraries in Abuja and Lagos schools, building future scientists, thinkers, and innovators from the ground up. Trained 3,860 vulnerable farmers in modern, climate-smart agriculture across the South-East and South-South, transforming rural livelihoods and food security,” the report stated.
Although the figures remain provisional and unaudited, industry analysts say the financial outlook suggests a strong start for the new management team and underscores NNPCL’s strategic pivot toward profitability and social investment under its limited liability structure.
