US EditionNigeria’s National Oil Company Records 64% Jump In Profits To $3.6B
- On Monday, Nigerian National Petroleum Company Limited reported a profit after tax of N5.4 trillion on revenue of N45.1 trillion for the full year ended 2024, according to a statement signed by Andy Odeh.
- After its transformation, NNPC said its shift to a fully commercial, profit-driven entity under the Petroleum Industry Act anchors its strategy on transparency, innovation and disciplined growth across the oil and gas value chain.
- Earnings momentum showed an 88% year-on-year revenue increase and a 64% rise in profit after tax, with earnings per share N27.07, Bashir Bayo Ojulari said on Monday.
- Management unveiled a strategic roadmap to drive sustained growth and support Nigeria’s energy transition through 2030, accelerating investments across upstream operations, gas infrastructure and clean energy with a $60 billion investment pipeline.
- Targets include raising crude production to 2 million bpd by 2027 and 3 million bpd by 2030, growing gas output to 10 bcf/d by 2027 and 12 bcf/d by 2030, and completing AKK, ELPS, and OB3 pipelines.
22 Articles
22 Articles
Nigeria’s National Oil Company Records 64% Jump In Profits To $3.6B
Nigeria’s state oil company, the Nigerian National Petroleum Company (NNPC), has reported it posted a net profit of 5.4 trillion naira ($3.6 billion) in 2024, good for a 64% jump from a year earlier as the pivotal industry continues to make a comeback. “The earnings highlight the positive momentum of our ongoing transformation and the unwavering commitment of our workforce,” Bashir Bayo Ojulari, NNPC Group Chief Executive, told analysts. Nigeria…
NNPCL Declares N5.4trn Profit For 2024
The Nigerian National Petroleum Company (NNPC Limited) has announced a profit after tax of N5.4trn for its 2024 financial performance. Speaking during a press briefing on Monday, the Group Chief Executive Officer of NNPCL, Engr. Bashir Bayo Ojulari, said the company made a total of ₦45.1trn during the year, an 88% year-on-year growth increase. He said earnings per share is N27.07, a 64% year-on-year growth. Ojulari said the earnings highlight th…
NNPC reports N5.4tn Profit, 88% Revenue Surge in 2024 as Cost Cuts, Market Reforms Pay Off
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has posted its strongest financial performance yet, announcing a Profit After Tax (PAT) of N5.4 trillion and revenue of N45.1 trillion for the 2024 financial year. The audited results, released on Monday, show a dramatic 88% jump in revenue and a 64% rise in profit compared to […]
NNPC Profit Jumps To ₦5.4 Trillion As Company Outlines 2030 Investment And Output Plan
Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a net profit of ₦5.4 trillion for the 2024 financial year. The state-owned energy firm attributed the profit growth to stronger operational efficiency, ongoing restructuring efforts, and a clearer commercial focus under the Petroleum Industry Act (PIA). The company’s management said the latest results demonstrate its […] The post NNPC Profit Jumps to ₦5.4 Trillion as Company Ou…
NNPC Ltd. Declares N5.4trn Profit After Tax For 2024
NNPC Ltd. declares N5.4trn profit after tax for 2024 By Emmanuella Anokam The Nigerian National Petroleum Company Limited (NNPC Ltd.) has declared a Profit After Tax (PAT) of N5.4 trillion on a revenue of N45.1 trillion for its financial performance for 2024. This represents a 64 per cent increase from N3.3 trillion PAT recorded in 2023. Mr Bashir Ojulari, News Agency of Nigeria
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