NNPC Releases Financail Reports As Profit Rises 33% to N7.2trn in 2025
- NNPC Ltd recorded a 33% jump in profit after tax in 2025, up from N5.4 trillion the previous year
- The state oil company's revenue came in at N34.5 trillion, under pressure from falling crude prices and reduced product volumes
- NNPC's crude production hit its highest level in five years, while domestic gas supply reached a three-year high
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria's state oil company, NNPC Ltd, recorded a profit after tax of N7.2 trillion in 2025, a 33% increase from the N5.4 trillion posted in 2024, Group Chief Executive Officer Bayo Ojulari announced on Tuesday, September29 in Abuja.
Ojulari told reporters that revenue for the year came in at N34.5 trillion, even as lower international crude oil prices and a drop in product volumes following the removal of fuel subsidies weighed on earnings.
Source: Twitter
Despite this, the company grew its bottom line through tighter operational discipline.
"Profit after tax rose 33%, from N5.4tn in 2024 to N7.2tn in 2025. Revenue was N34.5tn. While taxes, royalties and other remittances to government rose 39% to N22.3tn,"
NNPC's output reaches multi-year highs
The financial results were backed by strong production numbers. Crude oil and condensate output peaked at 1.77 million barrels per day in 2025, the company's best production figure in five years. Domestic gas supply also climbed to 7.2 billion standard cubic feet per day, a three-year high, reflecting what Ojulari described as increased focus on NNPC's assets and infrastructure.
"Yet, profit grew because we improved the way we operate. And we maintained discipline across our businesses," he said.
Payments to the Nigerian government, covering taxes, royalties and other remittances, rose 39% to N22.3 trillion, meaning the state collected significantly more from the company in 2025 than in the prior year.
What the results mean going forward
Ojulari said the stronger performance would expand NNPC's ability to invest and contribute to public finances, while also reinforcing Nigeria's energy security.
Source: Twitter
He said:
"Strong performance gives NNPC Limited more capacity to invest, more capacity to contribute to public revenue and strengthen Nigeria's energy security."
He acknowledged that delivering exceptional results raises the bar for future performance.
He added:
"As we deliver exceptional results, the following year we strive to even beat those records."
NNPC did not provide a segment-by-segment breakdown of how individual business units contributed to the overall profit increase.
NNPC reduces petrol price
Earlier, Legit.ng reported that the Nigerian National Petroleum Company (NNPC) Limited has cut the pump price of petrol at its filling stations in Lagos and Abuja, offering some relief to motorists grappling with high living costs.
A market survey showed that in Lagos, the reduction was the steeper of the two, with NNPC lowering its pump price by N35 per litre.
In the Federal Capital Territory, the state-owned company brought the price down by N15 per litre.
Source: Legit.ng
