NNPC profit increases by 33% to ₦7.2 trillion

The Nigerian National Petroleum Company Limited (NNPCL) recorded a 33 per cent increase in profit after tax to N7.2tn in 2025.

This was despite declined revenue amid falling crude oil prices and reduced product volumes.

The Group Chief Executive Officer of NNPC Limited, Bayo Ojulari, said the company’s 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. Taxes, royalties and other remittances to the government increased by 39 per cent to N22.3tn.

According to him: “We have released the NNPC Limited 2025 audited financial results. I want to explain what they mean. What drove them and where we go from here. The central result is clear. Profit after tax rose 33 per cent, from N5.4tn in 2024 to N7.2tn in 2025. Revenue was N34.5tn. While taxes, royalties and other remittances to government rose 39 per cent to N22.3tn.”

Explaining the results, Ojulari said the company’s improved profitability came despite revenue pressures from lower international crude oil prices and reduced product volumes following changes in the domestic petroleum market.

“Revenue declined as crude oil prices fell for those, as you recall, in 2025. 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 operational improvements and financial discipline helped the national oil company increase its profit despite the challenging conditions.

“Yet, profit grew because we improved the way we operate. And we maintained discipline across our businesses,” Ojulari stated.

The results showed that the company’s profit growth outpaced the increase in government remittances, which rose by 39 per cent, while its operational performance also improved.