The Nigerian National Petroleum Company Limited, NNPC Limited, recorded a profit after tax of N7.2 trillion in 2025, representing a 33 per cent increase from the N5.4 trillion reported in 2024.
The company’s revenue, however, declined significantly during the period, falling from N45.075 trillion in 2024 to N34.516 trillion in 2025.
Despite the lower revenue, the NNPC 2025 profit was supported by what the company described as improved operational efficiency and stronger cost discipline.
NNPC Limited also reported earnings per share of N35.9 for the financial year.
The company said its taxes, royalties and other remittances to the Federal Government increased by 39 per cent during the year to N22.3 trillion.
Explaining the revenue decline, NNPC Limited Group Chief Executive Officer, Bayo Ojulari, attributed it largely to lower crude oil prices and reduced white-product volumes following market deregulation.
He said the company nonetheless recorded stronger operational performance across key areas of its business.
According to Ojulari, crude oil and condensate production reached a five-year high of 1.77 million barrels per day at its peak in 2025.
Natural gas supply also rose to a three-year high of 7.2 billion standard cubic feet per day.
NNPC Limited reported total crude oil production of 565.8 million barrels during the year.
Of this volume, 278.2 million barrels were supplied to domestic refineries.
The company said gas supply to power plants and commercial customers stood at 473.3 billion standard cubic feet during the financial year.
The figures indicate that NNPC Limited recorded higher production and gas supply alongside the increase in NNPC 2025 profit, even as its overall revenue declined.
The company attributed the stronger bottom-line performance to improved operational efficiency and cost discipline amid lower crude prices and changes in the downstream market following deregulation.
