The Nigerian National Petroleum Company Limited (NNPCL) has announced its full-year 2024 financial performance, reporting a profit after tax of N5.4 trillion on revenue of N45.1 trillion.
The figures, disclosed on Monday by the company’s Chief Corporate Communications Officer, Andy Odey, reflect a major leap in performance. Revenue rose by 88% year-on-year, while profit after tax grew by 64%. Earnings per share stood at N27.07, also representing a 64% increase.
Alongside the financial disclosure, NNPCL revealed a new strategic roadmap designed to deepen growth and accelerate Nigeria’s energy transition by 2030. Central to the plan is an ambitious $60 billion investment pipeline aimed at boosting oil and gas production and strengthening operations across the entire energy value chain.
Group Chief Executive Officer, Bashir Bayo Ojulari, said the strong earnings underscore the momentum of the company’s ongoing transformation.
“These results highlight the impact of our reforms and the dedication of our workforce,” Ojulari said. “They set the stage for the growth ahead, in line with President Bola Ahmed Tinubu’s mandate, and reinforce our commitment to delivering value to Nigerians.”
He added that the company’s transformation remains rooted in transparency, innovation, and disciplined growth, with a long-term goal of positioning NNPCL as a globally competitive energy company capable of delivering sustainable returns while powering the future of Nigeria and Africa.
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