The Nigerian National Petroleum Company Limited (NNPC) signalled transparency under new leadership after it posted a whopping N5.89 trillion revenue and N748 billion profit for April.

In a detailed release of its activities for April on Thursday, the Bayo Ojulari-led national oil company witnessed a sharp increase in its monthly total revenue, barely two months in office, unlike in the past when the state-owned firm halted the release of the monthly report years ago without any explanation.

According to the new report, Profit After Tax, PAT, by the 48-year-old oil company hit N748 billion, while petrol availability in its retail stations nationwide was 54 per cent.

”NNPC is pleased to announce that in the month under consideration, the total revenue of the company reached N5.89 trillion,” the report reads.

The report also states that NNPC’s statutory payments to the federal government for Q1 of 2025 totalled N4.225 trillion, while plans are underway to make significant investment commitments this year, with four major Final Investment Decisions, FIDs, expected before the end of 2025.

The new NNPC leadership was given a $60 billion investment target by 2030, an oil production goal of 2 million barrels daily by 2027 and 3 million daily by 2030, by President Tinubu

Besides, the monthly report highlights the company’s operational performance, financial results, and strategic initiatives aimed at boosting Nigeria’s oil and gas production and proving its record of transparency.

The four projects slated for FID by the fourth quarter, Q4, OML 102, Crude Oil Production Expansion Project, OML 29, Gas Development Projects, OMLs 30 and 42, and Brass Fertiliser Project, 2025, include the Ntokon Development Project in the oil mining lease.