By Joshua Tosin Ogunsakin 
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Bayo Ojulari, says the firm’s latest financial results show that Nigeria is finally beginning to enjoy the benefits of the Petroleum Industry Act.
Ojulari explained the company’s position in an interview shared on NNPCL’s X account on Friday.
The state-owned energy firm recently announced a profit after tax of N5.4 trillion from a total revenue of N45.1 trillion for 2024. The figure marks one of the company’s strongest earnings yet.
Speaking on the development, Ojulari said the outcome underlines NNPCL’s ongoing push for openness in its operations.
“This earning is our first step in going out there to make ourselves more visible and demonstrate our commitment towards transparency. The profit of N5.4 trillion is quite significant. What that indicates is that we are beginning to reap the benefits of the Petroleum Industry Act.”