The Nigerian National Petroleum Company Limited (NNPC) has announced its financial performance for the full year ended 2024, reporting a profit after tax of N5.4 trillion on revenue of N45.1 trillion.
This was disclosed in a statement on Monday by NNPCL’s Chief Corporate Communications Officer, Andy Odey.
The N45.1 trillion represents an 88 per cent year-on-year growth, while PAT N5.4 trillion is a 64 per cent year-on-year growth.
The statement noted that the state-owned oil firm’s earnings per share stood at N27.07, representing a 64 per cent year-on-year growth.
The company unveiled its strategic roadmap to drive sustained growth and support Nigeria’s energy transition through 2030.
Accordingly, the plan prioritises increased oil and gas production and outlines a $60 billion investment pipeline across the energy value chain.
“The earnings highlight the positive momentum of our ongoing transformation and the unwavering commitment of our workforce,” said Bashir Bayo Ojulari, Group Chief Executive Officer.
“They offer a solid foundation for the ambitious growth ahead, in line with President Bola Ahmed Tinubu’s mandate, and reaffirm our commitment to delivering value to Nigerians.”
“Our transformation is anchored on transparency, innovation, and disciplined growth,” Ojulari added. “We are positioning NNPC Limited as a globally competitive energy company capable of delivering sustainable returns while powering the future of Nigeria and Africa.”
