The Nigerian National Petroleum Company Limited (NNPC Limited) has reported a profit after tax of N7.2 trillion for the 2025 financial year, representing a 33 per cent increase from the N5.4 trillion recorded in 2024.
Despite the higher profit, the company’s revenue fell by 23.4 per cent, from N45.075 trillion in 2024 to N34.516 trillion in 2025.
NNPC Limited also disclosed that it remitted N22.3 trillion in taxes, royalties and other payments to the Federal Government during the year, representing a 39 per cent increase compared with the previous year.
The company reported earnings per share of N35.9.
NNPC Limited attributed the increase in profitability to improved operational efficiency and stronger cost management, despite the decline in revenue.
Speaking on the financial performance, the Group Chief Executive Officer of NNPC Limited, Bayo Ojulari, said the fall in revenue was mainly caused by lower crude oil prices and reduced white-product volumes following the deregulation of the downstream petroleum sector.
Ojulari, however, said the company recorded significant improvements in its operational performance during the year.
According to him, crude oil and condensate production reached a five-year high of 1.77 million barrels per day at its peak in 2025.
He also disclosed that natural gas supply rose to a three-year high of 7.2 billion standard cubic feet per day.
NNPC Limited said total crude oil production for the year stood at 565.8 million barrels, with 278.2 million barrels supplied to domestic refineries.
The company also reported that 473.3 billion standard cubic feet of gas was supplied to power plants and commercial customers during the year.
The results highlight the company’s improved profitability and operational performance in 2025, even as lower crude oil prices and changes in the downstream market affected its overall revenue.
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