NNPC Reports N5.8 Trillion Revenue amid Plans to Invest in Brass Fertiliser Project
- The NNPCL has released its unaudited financial statement for April 2025, showing a healthy financial performance
- However, there are concerns as the report shows a decline in Nigeria's daily crude oil production output
- Meanwhile, NNPC expects to make four major Final Investment Decisions (FIDs) for key projects, including the Brass Fertiliser Project
Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.
The Nigerian government may have serious concerns about its oil revenues, given the decline in crude oil production.
The Nigerian National Petroleum Corporation Limited (NNPCL) has released its April 2025 Monthly Report, providing insights into the oil and gas sector.
A major highlight of the report is that Nigeria’s crude oil production is still below what it was at the beginning of the year.
Source: Twitter
Crude oil and condensate production went from 1.67 million barrels per day (mbpd) in January 2025 to 1.62 mbpd in February and 1.56 mbpd in March.
It increased to 1.61 mbpd in April 2025 compared to the previous month, but still stayed below the January record. This could justify Dangote Refinery's decision to continue importing crude oil.
NNPCL reports massive revenues amid crude oil decline
The report shows that despite this reduction in crude oil production, NNPCL showed impressive financial health for the period.
In April 2025, NNPCL generated N5.89 trillion in revenue with a healthy profit after tax (PAT) of N748 billion.
It also made statutory payments amounting to N4.225 trillion.
This is the first-ever report under the new GMD, Bayo Ojulari, and NNPCL shared it on its official X (formerly Twitter) account on Thursday, 12 June 2025.
Gas production increases as crude oil stays low
Another highlight of the report is that Nigeria’s gas production is on the increase. Compared to 7,120 million standard cubic feet per day mscf/d recorded in February 2025, production stood at 7,473 mmscf/d in April.
This reflects progress in President Bola Tinubu’s Decade of Gas agenda, aimed at reducing reliance on crude oil and promoting gas as a cleaner alternative.
NNPC Limited noted that its crude oil and gas figures are provisional, unaudited, and based solely on NNPC Limited’s data, excluding reports from independent operators and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
NNPCL impacts Nigerians with social initiatives
Source: Twitter
The report also included social impact projects carried out through the NNPC Foundation. Some of them are:
- Distributing solar power starter packs to 531 National Youth Service Corps (NYSC) members under the NNPC/NYSC Business Empowerment Initiative.
- Equipping 83 ICT trainees and 170 creative industry professionals with business starter kits to foster innovation.
- Funding cataract surgeries for 2,005 individuals and renovating three hospital wards at the National Orthopaedic Hospital, Igbobi.
- Commissioning of STEM books and science libraries in Abuja and Lagos schools.
- Training 3,860 vulnerable farmers across South-east and South-south in modern, climate-smart agriculture
NNPCL shares plans to invest in strategic projects
In related news by Legit.ng, the NNPCL said it would finally conclude four significant financial investment decisions in Q4 2025.
These include the long-awaited Brass Fertiliser Project, the Crude Oil Production Expansion Project (OML 29), the Ntokon Development (OML 102), and Gas Development Projects (OMLs 30 and 42).
Analysts said that these projects, upon execution, could significantly boost Nigeria’s Balance of Payments.
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Source: Legit.ng
