NNPC Achieves Historic N5.4 Trillion Profit, Receives Praise for Reform Efforts

The Nigerian National Petroleum Corporation (NNPC) has achieved a significant milestone by posting a record N5.4 trillion profit in the 2024 financial year. The accountability group CEAR has commended NNPC for its disciplined management and commercial reforms, attributing the success to the ongoing restructuring and operational improvements led by Bayo Ojulari.

The profit surge, a 64% increase from the previous year, reflects NNPC's focus on efficiency, transparency, and corporate governance. Stakeholders have lauded NNPC's commitment to better commercial discipline and its plans to increase crude oil output to boost revenue.

The positive financial results align with President Bola Tinubu's agenda for fiscal discipline in the energy sector.