The Nigerian National Petroleum Corporation (NNPC) saw its annual profit grow by nearly a third to 3.3 trillion naira ($2.1 billion) in the year ending in December.

The company generated 24 trillion naira in revenue, although no comparative figures have been provided. The NNPC also highlighted the increase in oil production, with the West African country producing 1.75 million barrels per day of crude and condensate this month, up from an average of 1.56 million barrels per day since the start of

Nigeria's economy remains heavily dependent on crude oil, which accounts for over 80% of its exports, despite diversification efforts. The country, which is one of the main oil producers in Africa, has long faced the problem of oil theft, including illegal extraction, refining, and vandalism on oil and gas pipelines