Nigeria’s oil industry is showing strong signs of revival as the Nigerian National Petroleum Company Limited (NNPC), under the leadership of its CEO, Mr. Bayo Ojulari, continues to record remarkable progress aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Between January and September 2025, NNPC earned over ₦801 billion from management fees and the Frontier Exploration Fund a clear signal of transparency and improved fiscal discipline in Nigeria’s oil management system.
This achievement comes despite global oil price fluctuations, reflecting the company’s steady grip on stability and growth. Through its Production Sharing Contracts (PSCs), NNPC channels oil profits into national development 30% as management fees, 30% for new exploration, and 40% directly to the federal government’s purse for infrastructure, salaries, and public projects.
Experts say this performance proves the company’s commitment to efficiency and openness. Unlike in the past, NNPC now publishes its financial reports monthly to the Federation Account Allocation Committee (FAAC), strengthening accountability and public trust.
A major win for the company is its ₦400 billion Frontier Exploration Fund, which is driving new oil discoveries across Benue, Sokoto, Chad, Bida, and Dahomey basins creating jobs and expanding Nigeria’s oil reserves.
Although Nigeria’s oil output still hovers around 1.6 million barrels per day below the 2 million targetthe Tinubu administration is stepping up security, reforming the oil sector, and partnering with international stakeholders to curb crude theft and boost production.
Additionally, NNPC has already remitted ₦1.3 trillion to the Federation Account within the same nine-month period, enabling more funding for federal, state, and local development projects.
In essence, NNPC’s ₦801 billion performance under Ojulari’s leadership stands as a symbol of renewed efficiency, transparency, and resilience in Nigeria’s oil sector a cornerstone of President Tinubu’s promise to rebuild national confidence and economic stability.