The Nigerian National Petroleum Company Limited recorded N7.2tn in profit after tax in 2025, representing a 33 per cent increase from N5.4tn recorded the previous year.
NNPC Group Chief Executive Officer Bayo Ojulari disclosed the figures during a media briefing in Abuja following the company’s annual general meeting and earnings call.
Despite the increase in profit, revenue fell by 24 per cent to N34.5tn from N45.1tn in 2024. Ojulari attributed the decline to lower crude oil prices and reduced product volumes following market deregulation.
He said crude oil and condensate production reached a five-year high of 1.77 million barrels per day, while gas supply increased to 7.2 billion standard cubic feet per day.
NNPC also declared N5.8tn in dividends, while taxes, royalties and other government remittances rose by 39 per cent to N22.3tn.
On infrastructure, Ojulari said the mainline of the Ajaokuta-Kaduna-Kano gas pipeline had been completed, with work continuing on connections to Abuja, Ajaokuta and Kaduna.
He also confirmed the completion of the Obiafu-Obrikom-Oben gas pipeline and said discussions with potential technical equity partners for the company’s refineries were progressing.
NNPC is targeting crude production of two million barrels per day by 2027 and three million by 2030, alongside plans to mobilise more than $60bn in investment across the energy value chain.
