NNPC Remits N12.1trn to Federation, Reports Stronger Revenue and Profit in 2025
- NNPC remitted N12.117 trillion to the federation between January and October 2025, and recorded N4.358 trillion in revenue and N502 billion in profit after tax
- The company shared updates on oil production, noting that oil and condensate output in November averaged 1.6 million barrels per day
- It also disclosed that the AKK and OB3 gas pipelines, which are expected to boost gas supply, are nearing completion and will be prioritised in 2026
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
The Nigerian National Petroleum Company (NNPC) Limited has announced that it remitted N12.117 trillion in statutory payments to the Federation Account between January and October 2025.
According to the company’s November performance report, the remittance highlights NNPC’s continued role as a major revenue contributor to the federal government amid fiscal pressures and ongoing economic reforms.
Source: UGC
Profit rises
Alongside the payments, NNPC reported improved financial results during the period, with group revenue standing at N4.358 trillion, while profit after tax rose to N502 billion.
The company said the outcome reflected stronger commercial performance and improved cost management, despite lingering operational challenges in the upstream oil sector, PUNCH reported.
The report shows that crude oil and condensate production remained broadly steady towards the end of the year.
Crude oil production figures
In November, average output reached 1.6 million barrels per day, up slightly from 1.58 million barrels per day recorded in October.
However, production was still below the 2025 peak of 1.77 million barrels per day achieved earlier in the year.
The November production figure comprised 1.36 million barrels per day of crude oil and 0.24 million barrels per day of condensates.
NNPC attributed the modest fluctuations in output to planned maintenance activities at several key assets, including Esso-Erha, Stardeep-Agbami and fields within the Renaissance-Estuary Area.
The company noted that while these works temporarily affected production, full recovery was expected by the end of December 2025 as facilities returned to service.
The company also reported 100% upstream pipeline availability during the period, ensuring uninterrupted evacuation of produced volumes.
Industry analysts say this has helped reduce losses associated with pipeline downtime, a long-standing issue in the sector.
Updates on gas pipeline projects
Progress was also recorded under Nigeria’s gas expansion programme. The Ajaokuta–Kaduna–Kano (AKK) gas pipeline reached about 90% completion, with mainline welding completed and pressure testing successfully carried out. NNPC said the project remains on track for full completion in 2026 and is expected to significantly boost gas supply to northern Nigeria.
Similarly, the Obiafu–Obrikom–Oben (OB3) gas pipeline advanced to 96% completion. Work is currently focused on the River Niger crossing, where geotechnical studies have been concluded, and preparatory construction activities have commenced. The pipeline is designed to enhance gas supply to domestic users and export markets.
NNPC said the near-completion of these pipelines is critical to supporting Nigeria’s current gas production level of about 6,968 million standard cubic feet per day, with improved transportation expected to increase utilisation across power plants and industrial facilities.
Source: Getty Images
NNPC lists assets for sale
Legit.ng earlier reported that NNPC launched a bidding process to sell stakes in selected oil and gas assets, marking a significant step in its ongoing transition into a commercially driven energy company.
The strategic shift aims to attract investors and enhance operational efficiency in Nigeria's energy sector.
Experts say successful divestments could increase production, create jobs, and boost government revenue.
Source: Legit.ng
