In First Step Toward Openness, Ojulari-led NNPC Releases Company’s Operational Data for April

. Announces N5.8tn revenue in one month

Emmanuel Addeh in Abuja

In what appears to be a renewed step towards transparent operations, the Nigerian National Petroleum Company Limited (NNPC) this morning (Thursday) released the details of its activities for the month of April to the public.

The Bayo Ojulari-led national oil company, which was appointed by President Bola Tinubu on April 2, 2025, also announced that in the month under consideration, the total revenue of the company reached N5.89 trillion.

In the same month, Profit After Tax (PAT) hit N748 billion, according to the 48-year-old company, while petrol availability in its retail stations nationwide was 54 per cent.

For decades, NNPC has been perceived by Nigerians as largely opaque, a development which stems from long-standing issues such as limited transparency in revenue reporting, crude oil sales, subsidy payments, contract awards, among others.

Critics have also often pointed to inconsistent disclosures, delayed audits, and limited public access to financial data. Despite recent reforms, including the transition to NNPC Limited under the Petroleum Industry Act (PIA), public trust remains cautious due to years of mismanagement and lack of accountability.

The move by the new NNPC leadership, which was given a $60 billion investment target by 2030, oil production goal of 2 million barrels daily by 2027 and 3 million daily by 2030 by Tinubu, is seen as a fresh start for the company, which is largely the backbone of the Nigerian economy.

Details later…