NNPC Reports N7.2 Trillion Profit Amid Revenue Decline
Nigerian National Petroleum Company Limited reported a 33% profit increase for 2025 while outlining a $60 billion investment plan to boost crude production by 2030.
The Nigerian National Petroleum Company Limited reported a profit after tax of N7.2 trillion for the 2025 financial year, marking a 33% increase from N5.4 trillion in 2024. This growth occurred despite a revenue decline of approximately 24% to N34.5 trillion, which the company attributed to lower crude oil prices and reduced petroleum product sales following market deregulation.
Operationally, the company reached a five-year peak in crude oil and condensate production at 1.77 million barrels per day and a three-year high in domestic gas supply at 7.2 billion standard cubic feet per day. The company remitted N22.3 trillion in taxes and royalties to the Federal Government of Nigeria and declared a dividend of N5.8 trillion.
Group CEO Bashir Bayo Ojulari stated that the results stem from improved operational efficiency and financial discipline. He announced that national refineries will resume operations only when profitable, utilizing a Technical Equity Partnership Model with Chinese partners. The company also confirmed the completion of the Ajaokuta-Kaduna-Kano gas pipeline mainline.
Looking toward 2030, the company aims to mobilize $60 billion in investments to increase crude oil production to three million barrels per day.
