NNPC SPEAKS ON REFINERIES, POSTS ₦5.4TRN PROFIT FOR 2024
By: Safiya Abdulrahim Dabban
The NNPC has assured Nigerians that it is undertaking a rigorous engineering and financial plan to keep the nation’s refineries stable and profitable.
GCEO Bayo Ojulari said in Abuja that the company is partnering with credible private investors to ensure sustainable, high-quality refinery output that can compete globally.
Ojulari stressed that the overhaul will position Nigeria to export refined products, noting that only proven refinery operators will be involved. He emphasized that refinery operations must be consistently reliable, not “working today and failing tomorrow.”
Presenting NNPC’s 2024 financials, he announced a profit of ₦5.4 trillion, driven by ₦45.1 trillion in revenue. He also revealed a $60 billion investment pipeline aimed at boosting crude production to 3 million barrels per day by 2030 and gas output to 12 billion cubic feet daily.
He added that new partnerships for refinery sustainability are expected to be sealed by mid-2025.