NNPCL declares N748 billion profit for April 2025, eyes FID on four projects by year-end

The Nigerian National Petroleum Company Limited (NNPCL) on Thursday reported that it earned N748 billion in profit while revenues came in at N5.89 trillion in the month of April, 2025.

The company outlined several key final investment decisions (FIDs) scheduled for the fourth quarter (Q4) of 2025, including the “Ntokon Development Project (OML 102), the Crude Oil Production Expansion Project (OML 29), gas development projects in OML 30 and OML 42, and the financial close of the Brass Fertilizer project”.

The FID is the formal approval from a project developer to proceed with a specific project, marking the commitment to allocate capital resources and move from the project planning stages to execution (Implementation/Construction Phase).

The company in a document titled: ‘NNPC Limited Monthly Report Summary — April 2025,’ posted on its website said it made statutory transfers of N4.225 trillion in the first three months of the year (January to March, 2025).

In terms of production volumes, NNPCL reported that crude oil and condensate production averaged 1.61 million barrels per day in April, while production figures for January, February and March were 1.67mbpd, 1.62mbpd, and 1.56mbpd respectively.

The report stated that natural gas production for April was 7.47 million standard cubic feet daily while figures for the first three months of the year were January (7,120mmscf/d), February (6,615mmscf/d), and March (6,928mmscf/d).

The company however, pointed out that “All financial figures are provisional and unaudited.”

It also clarified that the figures reflect only its operations and exclude data from independent operators reported by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

NNPC said petrol availability at NNPC Retail Limited stations stood at 54 percent during the month, adding that upstream pipeline availability was 97 percent.

The also gave an update on major gas infrastructure updates, disclosing that the Ajaokuta-Kaduna-Kano pipeline project was at 70 percent completion stage while the Obiafu-Obrikom-Oben (OB3) gas pipeline project was 95 percent complete.

NNPC also said the Port Harcourt, Warri, and Kaduna refineries were under review during April, adding that it collaborated with venture partners in April to enhance sustainable production, and completed the implementation of presidential directives and executive orders relevant to upstream operations.

The report also highlighted “technical interventions on AKK and OB3 to resolve challenges of River Niger crossings”, disclosing that completed in several oil mining leases, including OML 18, OML 58, OML 118, and OML 133.

The Company also highlighted the impact of NNPC Foundation Public Impact Initiatives disclosing that the foundation “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 three hospital wards with 100-bed capacity at National Orthopaedic Hospital, lgbobi, 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.”