The Nigerian National Petroleum Company Limited (NNPCL) recorded a 33% increase in profit after tax to N7.2tn in 2025, even as its revenue came under pressure from lower crude oil prices and reduced product volumes.
NNPC Group Chief Executive Officer, Bayo Ojulari, disclosed the figures on Tuesday in Abuja while presenting the company’s 2025 audited financial results.
Profit after tax rose from N5.4tn in 2024 to N7.2tn in 2025, representing an increase of N1.8tn. Revenue stood at N34.5tn, while earnings per share reached N35.9.
The company also increased its taxes, royalties and other remittances to the Nigerian Government by 39% to N22.3tn.
Ojulari attributed the stronger profitability to operational improvements and tighter financial discipline despite a challenging oil market.
“Revenue declined as crude oil prices fell… But we also had some decline that resulted from a wide product volume reduction following the market regulation, as you know, with the removal of subsidy,” he said.
He added that NNPC was able to grow profit because it improved its operations and maintained financial discipline across its businesses.
Oil Production Hits Five-year High
NNPC reported stronger production performance in 2025, with crude oil and condensate output peaking at 1.77 million barrels per day, the company’s highest level in five years.
Nigerian gas supply reached 7.2 billion standard cubic feet per day, described by the GCEO as a three-year high.
“These gains reflect sustained attention to our assets, infrastructure and our focus on delivering visible results,” Ojulari said.
According to him, the improved performance would give NNPC greater capacity to invest in its businesses, contribute to government revenue and support Nigeria’s energy security.
He, however, said the company would need to sustain the momentum and improve on its performance in subsequent years.
“As we deliver exceptional results, the following year we strive to even beat those records,” Ojulari said.
