NNPC Limited Targets Four Major FIDs by 2025, Reports N5.89tn Revenue in April

The Nigerian National Petroleum Company Limited (NNPCL) is set to make significant investment commitments this year, with four major Final Investment Decisions (FIDs) expected before the end of 2025.

The recently published NNPC Monthly Report Summary for April 2025 highlights the company’s operational performance, financial results, and strategic initiatives aimed at boosting Nigeria’s oil and gas sector. The investment projects include the Ntokon Development Project (OML 102), Crude Oil Production Expansion Project (OML 29), Gas Development Projects (OMLs 30 and 42), and the Brass Fertilizer Project, which is expected to meet rising domestic fertilizer demand, reduce imports, and enhance agricultural productivity.

Crude oil and condensate production stood at 1.61 million barrels per day (mmbopd) in April, marking a continued decline from 1.67 mmbopd recorded in January. However, natural gas production rose to 7,354 million standard cubic feet per day (mmscf/d), up from 7,120 mmscf/d in February.

NNPC Ltd reported N5.89 trillion in revenue for the month, with a profit after tax of N748 billion. Statutory payments for Q1 2025 totaled N4.225 trillion. Infrastructure updates reveal that the OB3 gas pipeline project is now 95% complete, while the AKK pipeline stands at 70%. Upstream pipeline availability remained strong at 97%, reflecting improved infrastructure reliability.

The company also emphasized its commitment to social impact initiatives. Under the NNPC/NYSC Business Empowerment Initiative, 531 National Youth Service Corps (NYSC) members were provided solar power starter packs. Additionally, 83 ICT trainees and 170 creative industry talents received business starter kits to foster innovation. In healthcare efforts, 2,005 individuals benefited from cataract surgeries, while three hospital wards were rehabilitated at the National Orthopaedic Hospital, Igbobi.

NNPC Limited noted that all crude oil and gas figures are provisional, unaudited, and reflective only of NNPC Limited’s data, excluding independent operators’ reports by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).