In a significant step towards restoring public confidence and institutional transparency, the Nigerian National Petroleum Company Limited (NNPC) has, for the first time under its new leadership, publicly released its operational and financial performance data for April 2025.
The disclosure, made early Thursday by the Bayo Ojulari-led management, signals what many observers see as a renewed commitment to openness within Nigeria’s state-owned oil company—an entity long criticised for opaque practices and limited public accountability.
According to the report, NNPC recorded total revenue of ₦5.89 trillion in April, with Profit After Tax (PAT) standing at ₦748 billion. The company also disclosed that petrol availability across its retail outlets nationwide averaged 54 per cent during the period under review.
Ojulari, appointed by President Bola Ahmed Tinubu on April 2, 2025, is the first Chief Executive to assume office under the full implementation of the Petroleum Industry Act (PIA). His administration has been tasked with repositioning NNPC as a commercially viable and transparent entity, with aggressive targets including $60 billion in investments by 2030, and ambitious crude oil production goals of 2 million barrels per day by 2027 and 3 million by 2030.
For decades, NNPC has faced scrutiny over allegations of inefficiency, mismanagement, and lack of transparency, particularly in areas such as crude oil sales, subsidy administration, and contract awards. Public trust has remained fragile despite previous reforms and the company’s 2021 transition into a limited liability company.
Industry analysts view the latest disclosure as a possible turning point for the 48-year-old institution, and a signal that the new leadership may be serious about reversing the legacy of opacity that has defined the company’s public image.
While the data release has been welcomed in many quarters, stakeholders are expected to watch closely for consistency in future disclosures, third-party audits, and alignment with global best practices in corporate governance and reporting.
More details …
