Amanze Chinonye
The Nigerian National Petroleum Company Limited (NNPCL) has announced a Profit After Tax (PAT) of ₦5.4 trillion for the 2024 financial year, marking one of its strongest performances since its transition into a limited liability energy company.
The details were released by the Group Chief Executive Officer, Bayo Ojulari, who described the audited results as “a validation of our strategic direction and the dedication of every member of the NNPC team.”
According to the FY2024 Audited Financial Summary, the national oil company recorded ₦45.1 trillion in revenue, while Earnings Per Share (EPS) stood at ₦27.07. Management said the performance underscores the company’s strengthened operational foundation under the Petroleum Industry Act (PIA) era.
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Facts About Bayo Ojulari, NNPCL Group CEO
Ojulari noted that the improved profit profile reflects NNPCL’s commitment to boosting Nigeria’s economic growth and energy security, adding that the company remains focused on delivering lasting value to shareholders and the nation.
The report also highlighted strategic milestones achieved in 2024, including further consolidation of reforms aimed at operational efficiency, transparency, and financial transformation.
In addition, NNPCL unveiled a long-term growth and energy transition roadmap running through 2030, projecting the attraction of $60 billion in investments as Nigeria positions itself for global shifts in the energy landscape.
The company said the roadmap is designed to sustain profitability, deepen energy supply, and strengthen its role in the country’s transition toward cleaner and more diversified energy sources.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
