Breaking: NNPC’s Profit Up 33% to N7.2tn as Revenue Hits N34.5tn

Emmanuel Addeh in Abuja

The Nigerian National Petroleum Company Limited (NNPC) on Tuesday afternoon released its 2025 Audited Financial Statement (AFS), reporting a 33 per cent surge in Profit After Tax (PAT) to N7.2 trillion, up from N5.4 trillion recorded in 2024.

The announcement was made during a press briefing at the NNPC headquarters in Abuja by the Group Chief Executive Officer (GCEO), Mr. Bayo Ojulari.

Besides, the state-owned energy company generated a total revenue of N34.5 trillion for the year, while delivering an earnings per share of N35.9.

Notably, remittances to the federal government in the form of taxes, royalties, and other statutory payments climbed by 39 per cent to reach N22.3 trillion.

Explaining the operational dynamics, Ojulari noted that total revenue declined year-on-year due to lower global crude oil prices and reduced white product volumes following market deregulation.

However, he stated that profit grew significantly as a result of improved operational efficiency and sustained financial discipline across the business.

On the operational front, he revealed that crude oil and condensate production reached a five-year peak of 1.77 million barrels per day (bpd).

In the same vein, natural gas supply hit a three-year high of 7.2 billion standard cubic feet per day, driven by targeted investments in key assets and infrastructure.

Details later…