NNPC Limited has reported a Profit After Tax of N5.4 trillion for the full year ended 2024, after declaring a revenue of N45.1 trillion.
The Company also unveiled its strategic roadmap to drive sustained growth and support Nigeria’s energy transition through 2030 prioritising increased oil and gas production and outlining a $60 billion investment pipeline across the energy value chain.
2024 Financials
• Revenue: N45.1 Trillion, 88% year-on-year growth
• Profit After Tax: N5.4 Trillion, 64% year-on-year growth
• Earnings Per Share: N27.07, 64% year-on-year growth
“The earnings highlight the positive momentum of our ongoing transformation and the unwavering commitment of our workforce.
“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.” Bashir Bayo Ojulari, Group Chief Executive Officer said.
Future Plans
NNPC Limited’s Key strategic targets for the future include:
• Increasing crude oil production to 2 million barrels per day (bpd) by 2027 and 3 million bpd by 2030.
• Growing natural gas production to 10 bcf/d by 2027 and 12 bcf/d by 2030 and completing major gas infrastructure projects such as Ajaokuta-Kaduna-Kano (AKK), Escravos-Lagos Pipeline System (ELPS) and Obiafu-Obrikom-Oben (OB3) pipelines to strengthen domestic supply and regional integration.
• Mobilising $60 billion in investments across the upstream, midstream, and downstream sectors by 2030.