NNPC Posts ₦7.2tn Profit

….Declares ₦5.8tn Dividend As Oil Output Hits Five-Year High

The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a profit after tax of ₦7.2 trillion for the financial year ended December 31, 2025, representing a 33 per cent increase over the ₦5.4 trillion recorded in 2024.

The company also declared a dividend of ₦5.8 trillion, up 35 per cent from the previous year.

NNPC Ltd announced the figures on Tuesday following its Annual General Meeting and second Earnings Call with financial and business analysts.

According to the company, revenue stood at ₦34.5 trillion, representing a 24 per cent decline, largely attributed to lower crude oil prices and reduced white product volumes following the deregulation of the market in 2024.

Despite the decline in revenue, NNPC said its improved profitability demonstrated the resilience of its operations and growing earnings capacity.
Other key financial indicators also recorded significant growth.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose by 22 per cent to ₦18 trillion, while Earnings Per Share increased by 32 per cent to ₦35.9.

Operating cash flow grew by 16 per cent to ₦12.8 trillion, while Return on Equity improved by 200 basis points to 16 per cent.

On production, NNPC said crude oil and condensate output averaged 1.77 million barrels per day in 2025, the company’s highest level in five years.

Natural gas production also averaged 7.2 billion standard cubic feet per day, representing a three-year high.

Total oil and condensate production reached 565.8 million barrels, an increase of five per cent, while NNPC Ltd’s equity share rose by 11 per cent to 223.7 million barrels.

Natural gas production increased by nine per cent to 2,606.2 billion standard cubic feet, with the company’s equity share rising by 11 per cent to 1,154.9 billion standard cubic feet.

The company said it also recorded progress on several major infrastructure and investment projects during the year.

These included the completion of the AKK River Niger crossing and the full completion of the 40-inch, 623-kilometre Ajaokuta-Kaduna-Kano gas pipeline mainline.

NNPC also commissioned the ANOH-OB3 Custody Transfer Metering Station and advanced the 300 million standard cubic feet per day ANOH Gas Processing Plant to start-up readiness.

The company further acquired 500 CNG-powered trucks and adopted a Technical Equity Partnership Model for its refinery reform programme.

NNPC’s Group Chief Executive Officer, Bashir Bayo Ojulari, said the company’s performance reflected the impact of disciplined execution and investments in its workforce and assets.

“Our 2025 performance shows what disciplined execution and a capable workforce can deliver,” Ojulari said.

He added that the company was strengthening earnings, increasing production and investing in people and assets to sustain value for shareholders, host communities and Nigerians.

On human capital, NNPC said it employed 1,023 full-time employees in 2025, including more than 1,000 graduates deployed after completing a one-year internship and training programme.

Women now occupy 23 per cent of leadership positions in the company, compared with an industry average of 17 per cent, according to the statement.

The company also reported sustainability initiatives, including 6,028 cataract surgeries, the planting of 80,000 trees and the development of its Net Zero 2050 strategy.

Looking ahead, NNPC said it was targeting crude oil production of two million barrels per day by 2027 and three million barrels per day by 2030.

It also targets natural gas production of 12 billion standard cubic feet per day by 2030 and plans to mobilise $60 billion in upstream, midstream and downstream investments by the end of the decade.

Major gas infrastructure projects, including AKK, ELPS and OB3, are also expected to be completed as part of the company’s expansion plans.

NNPC Ltd became a fully commercial, profit-driven company in July 2022 following the implementation of the Petroleum Industry Act 2021.

The company’s 2025 audited financial statements are available on its official website.