NNPC Limited has reported a Profit After Tax of ₦7.2 trillion for the 2025 financial year, marking a 33 per cent increase over the ₦5.4 trillion recorded in 2024 despite a decline in revenue caused by lower crude oil prices and market changes.
The national oil company also announced a ₦5.8 trillion dividend for shareholders, describing the result as a reflection of stronger operational performance and disciplined execution across its business.
The figures were presented after the company’s Annual General Meeting and second Earnings Call with financial and business analysts held on Tuesday.
According to the audited financial statement, revenue stood at ₦34.5 trillion, down by 24 per cent from the previous year. NNPC attributed the decline mainly to lower global crude oil prices and reduced sales of white petroleum products following fuel market deregulation.
However, the company improved its profitability through better operational efficiency. Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) increased by 22 per cent to ₦18 trillion, while operating cash flow rose to ₦12.8 trillion, representing a 16 per cent increase. Earnings per share climbed to ₦35.9, while Return on Equity improved to 16 per cent.
NNPC also recorded its highest crude oil production level in five years.
The company said crude oil and condensate production averaged 1.77 million barrels per day, while natural gas production averaged 7.2 billion standard cubic feet per day, the highest level recorded in three years.
Total oil and condensate production reached 565.8 million barrels, while natural gas production rose to 2,606.2 billion standard cubic feet during the year.
The company said it made progress on key gas infrastructure projects, including the completion of the River Niger crossing and the entire 623-kilometre Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline mainline.
It also commissioned the ANOH-OB3 Custody Transfer Metering Station, moved the ANOH Gas Processing Plant closer to operation, acquired 500 CNG-powered trucks, and introduced a Technical Equity Partnership Model to support refinery reforms.
As part of efforts to strengthen its workforce, NNPC employed 1,023 full-time workers, including more than 1,000 graduates who completed a one-year internship and training programme.
The company added that women now occupy 23 per cent of leadership positions, exceeding the oil and gas industry average of 17 per cent.
Speaking on the company’s performance, the Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, said the achievements showed the impact of consistent reforms.
> “Our 2025 performance shows what disciplined execution and a capable workforce can deliver. We are strengthening earnings, growing production and investing in the people and assets that will sustain value for our shareholders, communities and the Nigerian people.”
NNPC also highlighted its social and environmental initiatives during the year. It said it sponsored 6,028 cataract surgeries, planted 80,000 trees, developed its Net Zero 2050 Strategy, and continued reporting under international sustainability and methane reduction frameworks.
Looking ahead, the company said it plans to raise crude oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030. It also aims to increase natural gas production to 12 billion standard cubic feet per day and attract 60 billion dollars in investments across the oil and gas value chain before the end of the decade.
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