NNPC Posts N7.2trn Profit, Remittances Rise to N22.3trn

The Nigerian National Petroleum Company Limited (NNPC Limited) has reported a profit after tax of N7.2 trillion for the 2025 financial year, representing a 33 per cent increase from the N5.4 trillion recorded in 2024. Despite the rise in profit, the company’s revenue fell by 23.4 per cent from N45.075 trillion in 2024 to N34.516 trillion in 2025. NNPC Limited also reported earnings per share of N35.9, while its taxes, royalties and other remittances to the Federal Government increased by 39 per cent to N22.3 trillion. The company attributed the increase in profit despite lower revenue to improved operational efficiency and tighter cost discipline. Speaking on the results, the Group Chief Executive Officer, Bayo Ojulari, said the decline in revenue was largely driven by lower crude oil prices and reduced white-product volumes following market deregulation.

Ojulari said the company recorded stronger operational performance during the year, with crude oil and condensate production reaching a five-year high of 1.77 million barrels per day at its peak in 2025. Natural gas supply also rose to a three-year high of 7.2 billion standard cubic feet per day. According to the company, total crude oil production for the year stood at 565.8 million barrels, of which 278.2 million barrels were supplied to domestic refineries. NNPC Limited also reported that gas supplied to power plants and commercial customers during the year totalled 473.3 billion standard cubic feet. The company said the results reflected improved operational performance and stronger cost management despite the challenging revenue environment.

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