NNPC get reason to smile as dem report say April revenue jump 79 percent to N4.97 trillion, and profit climb to N481 billion. Dis na big improvement from March, where profit after tax stand at N276 billion. According to THISDAY analysis, di revenue growth come with strong profitability rise.
Di NNPC data show say April performance get boost from better facility uptime and ongoing programmes to increase production efficiency. Di report note say even though production still get wahala, di numbers still better pass March levels. Dis na because of recovery efforts across upstream operations.
But e no be all good news. Di report say output still dey affected by di delayed restart of Trans Niger Pipeline, or TNP, after dem finish turnaround maintenance. Also, some assets get facility integrity issues wey dey cause problem. Despite all dis, month-on-month production performance improve because of better facilities uptime.
Di April report also highlight progress on strategic gas infrastructure projects wey di company consider critical for Nigeria long-term energy security and industrialisation plans. However, one area wey decline na di availability of NNPC Retail petrol stations nationwide. Di company no give detailed reason why di station numbers drop.
