Nigeria TV Info News

NNPC Reports N5.4 Trillion Profit in 2024, Revenue Hits N45.1 Trillion

The Nigerian National Petroleum Company Limited (NNPC Ltd.) on Monday released its audited financial results for the full year ended 2024, revealing a Profit After Tax (PAT) of N5.4 trillion on a revenue of N45.1 trillion.

The N45.1 trillion revenue marks an impressive 88 per cent growth compared to 2023, while the PAT surged by 64 per cent year-on-year. Earnings per share also rose significantly to N27.07, reflecting a 64 per cent increase over the previous year.

According to NNPC, the remarkable performance was driven by enhanced operational efficiency across its assets, the positive impact of downstream market reforms, and a strong commitment to cost discipline.

On the strategic front, NNPC highlighted ongoing efforts to advance key gas infrastructure projects, including the Ajaokuta-Kaduna-Kano (AKK) pipeline and the Obiafu-Obrikom-Oben (OB3) pipelines. These initiatives are aimed at unlocking a gas-powered economy while boosting revenue for the national oil company.

The company’s robust 2024 performance underscores its growing role in strengthening Nigeria’s energy sector and contributing to national economic growth.