By Atoyebi Nike
NNPC Limited posted a Profit After Tax of ₦5.4 trillion on ₦45.1 trillion revenue for 2024, marking strong growth from the previous year, with earnings per share rising to ₦27.07, up 64 percent year-on-year
The company announced a strategic roadmap to 2030 to increase oil and gas production, expand gas infrastructure, and support Nigeria’s energy transition, including raising crude oil production to 2 million barrels per day by 2027 and 3 million by 2030 and growing natural gas production to 10 bcf/d by 2027 and 12 bcf/d by 2030
NNPC plans to complete major pipelines such as Ajaokuta-Kaduna-Kano (AKK), Escravos-Lagos Pipeline System (ELPS), and Obiafu-Obrikom-Oben (OB3) and mobilize $60 billion in investments across upstream, midstream, and downstream sectors
Group CEO Bashir Bayo Ojulari said the results reflect the positive momentum of the company’s transformation and its commitment to delivering value to Nigerians
Founded in 1977, NNPC became a fully commercial and profit-driven company in July 2022 under the Petroleum Industry Act 2021, operating across the full oil and gas value chain.
