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Nigeria’s National Oil Company Records 64% Jump In Profits To $3.6B
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Why This Matters
Nigeria's state oil company, NNPC, reported a 64% jump in profits to $3.6 billion in 2024, driven by the oil industry's recovery.
Market Impact
Market impact analysis based on bullish sentiment with 82% confidence.
Sentiment
Bullish
AI Confidence
82%
Article Context
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Nigeria’s state oil company, the Nigerian National Petroleum Company (NNPC), has reported it posted a net profit of 5.4 trillion naira ($3.6 billion) in 2024, good for a 64% jump from a year earlier as the pivotal industry continues to make a comeback. “The earnings highlight the positive momentum of our ongoing transformation and the unwavering commitment of our workforce,” Bashir Bayo Ojulari, NNPC Group Chief Executive, told analysts. Nigeria has been struggling to meet its OPEC+ quota in recent years, thanks to years of underinvestment…
Original article published by
OilPrice.com
on November 24, 2025.
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Analysis and insights provided by AnalystMarkets AI.