NNPC Profit Rises 33% to N7.2tn, Remits N22.3tn to Government

The Nigerian National Petroleum Company Limited NNPC Ltd. recorded a 33 per cent increase in profit after tax to N7.2 trillion in 2025, despite a decline in revenue caused by lower crude oil prices and reduced product volumes.

The company’s Group Chief Executive Officer, Bashir Bayo Ojulari, disclosed this on Tuesday in Abuja while presenting NNPC Ltd.’s 2025 audited financial results, achievements and strategic outlook.

Ojulari said profit after tax increased from N5.4 trillion in 2024 to N7.2 trillion in 2025, representing a rise of N1.8 trillion.

He said the company recorded N34.5 trillion in revenue during the year, while earnings per share stood at N35.9.

According to him, taxes, royalties and other remittances to the government rose by 39 per cent to N22.3 trillion during the period.

Ojulari attributed the increase in profitability to improved operations and financial discipline despite pressures arising from falling international crude oil prices and lower product volumes following changes in the domestic petroleum market.

“Yet, profit grew because we improved the way we operate. And we maintained discipline across our businesses,” he said.

On production, the GCEO said crude oil and condensate output peaked at 1.77 million barrels per day, representing the company’s highest level in five years.

He added that Nigerian gas supply also reached a three-year high of 7.2 billion standard cubic feet per day.

Ojulari said the improved financial and operational performance would enhance NNPC Ltd.’s capacity to invest in its businesses, contribute to public revenue and support Nigeria’s energy security.

He, however, said the company needed to build on the gains recorded in 2025 and improve its performance in subsequent years.

“The numbers matter because of what they enable. Stronger performance gives NNPC Limited more capacity to invest, more capacity to contribute to public revenue and strengthen Nigeria’s energy security,” he said.

Ojulari said the results had also raised expectations for the company, making it necessary to strengthen its capacity to sustain growth.

The latest results follow NNPC Ltd.’s broader efforts to improve operational efficiency, increase crude and gas production and strengthen its commercial performance. The company had earlier reported higher production levels and a resumption of full monthly remittances to the Federation Account.