The Nigerian National Petroleum Company Limited has reported a 33 per cent increase in profit after tax, reaching N7.2tn in 2025 despite a decline in revenue.
The Group Chief Executive Officer of NNPC Limited, Bayo Ojulari, disclosed the figures on Tuesday in Abuja while presenting the company’s audited 2025 financial results and outlining its strategic direction.
Ojulari said profit after tax increased from N5.4tn recorded in 2024 to N7.2tn in 2025, representing a N1.8tn rise. The company recorded N34.5tn in revenue, while earnings per share stood at N35.9.
Government receipts from taxes, royalties and other remittances also climbed by 39 per cent to N22.3tn.
According to Ojulari, the stronger profit performance came despite pressures on revenue caused by lower international crude oil prices and a reduction in product volumes following changes in the domestic petroleum market.
He attributed the improved profitability to operational changes and tighter financial discipline across the company’s businesses.
“Yet, profit grew because we improved the way we operate. And we maintained discipline across our businesses,” he said.
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On production, Ojulari said crude oil and condensate output reached a peak of 1.77 million barrels per day in 2025, describing it as the company’s highest level in five years.
He added that Nigerian gas supply also rose to a three-year high of 7.2 billion standard cubic feet per day.
The NNPC chief executive said the improved financial and operational performance would provide the company with greater capacity to invest in its businesses, contribute to government revenue and support Nigeria’s energy security.
However, he cautioned that the improved results would raise expectations for the company and require stronger capacity to sustain its performance in subsequent years.
Ojulari said NNPC would seek to surpass its latest achievements while strengthening its ability to deliver consistent results.
The company’s 2025 performance therefore reflected stronger profitability and higher production despite revenue pressures linked to crude oil prices and reduced product volumes.