NNPC Posts ₦7.2 Trn Profit, Pays Shareholders ₦5.8 Trn As Crude Output Hits Five-Year High
By Sunday Etuka
The Nigerian National Petroleum Company (NNPC) Limited has reported a 33 per cent jump in profit after tax to ₦7.2 trillion for the 2025 financial year, and approved a ₦5.8 trillion dividend, up 35 per cent on the previous year.
The company announced the audited results for the year ended 31 December 2025 after its Annual General Meeting and its second Earnings Call with financial and business analysts. It said the figures point to growing earnings capacity and operational momentum, and provide a stronger platform for growth.
Profit after tax rose from ₦5.4 trillion recorded in 2024. Revenue stood at ₦34.5 trillion, a 24 per cent decline that NNPC attributed mainly to lower crude oil prices and reduced white product volumes following market deregulation in 2024. The company said stronger earnings despite that pressure demonstrate the resilience of its operations.
Other financial indicators also improved. EBITDA grew 22 per cent to ₦18.0 trillion, earnings per share rose 32 per cent to ₦35.9, and operating cash flow increased 16 per cent to ₦12.8 trillion. Return on equity improved by 200 basis points to 16 per cent.
Crude oil and condensate production averaged 1.77 million barrels per day, the highest level in five years, while natural gas output averaged 7.2 billion standard cubic feet per day, a three year high.
Total oil and condensate production reached 565.8 million barrels, up 5 per cent, with NNPC Limited’s equity share rising 11 per cent to 223.7 million barrels. Gas production totalled 2,606.2 billion standard cubic feet, up 9 per cent, and the company’s equity share climbed 11 per cent to 1,154.9 billion standard cubic feet.
The company also listed progress on key projects. It completed the AKK River Niger crossing and fully completed the 40 inch, 623 kilometre Ajaokuta-Kaduna-Kano mainline.
It commissioned the ANOH-OB3 Custody Transfer Metering Station, moved the 300MMscfd ANOH Gas Processing Plant to start-up readiness, acquired 500 CNG powered trucks and adopted a Technical Equity Partnership Model for its refinery reform.
NNPC said its talent-to-value transformation is building the workforce needed to deliver its commercial priorities. In 2025, it employed 1,023 full time staff, including over 1,000 graduates recently deployed after a one year internship and training programme. Women now hold 23 per cent of leadership positions, compared with an industry average of 17 per cent.
Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, said: “Our 2025 performance shows what disciplined execution and a capable workforce can deliver.”
He added: “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.”
On sustainability, the company completed 6,028 cataract surgeries, planted 80,000 trees and developed its Net Zero 2050 strategy. It also maintained reporting under the Oil and Gas Methane Partnership, the Oil and Gas Decarbonization Charter and the United Nations Global Compact frameworks.
Looking ahead, NNPC Limited is targeting crude oil production of 2 million barrels per day by 2027 and 3 million barrels per day by 2030, alongside gas output of 12 billion standard cubic feet per day by 2030.
The company plans to mobilise $60 billion in upstream, midstream and downstream investments by 2030 and to complete major gas infrastructure projects, including AKK, ELPS and OB3.
