The Nigerian National Petroleum Company (NNPC) Limited has achieved a significant milestone, recording a profit after tax of ₦7.2 trillion for the financial year ended December 31, 2025. This represents a 33 percent increase from the ₦5.4 trillion posted in 2024. The national oil company's impressive financial performance is attributed to higher production and improved earnings.
Despite a 24 percent decline in revenue to ₦34.5 trillion, primarily due to lower crude oil prices and reduced white-product volumes following downstream market deregulation, NNPC's profit increased. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 22 percent to ₦18 trillion, while operating cash flow grew 16 percent to ₦12.8 trillion.
NNPC's oil production reached a five-year high, with crude oil and condensate averaging 1.77 million barrels per day in 2025. Total oil and condensate production stood at 565.8 million barrels, a five percent increase over the previous year. The company's equity share of production also increased by 11 percent to 223.7 million barrels.
Natural gas production recorded significant growth, with average output reaching 7.2 billion standard cubic feet per day, the highest level in three years. Total natural gas production rose by 9 percent to 2,606.2 billion standard cubic feet, while NNPC's equity share increased by 11 percent to 1,154.9 billion standard cubic feet.
The company declared a ₦5.8 trillion dividend, representing a 35 percent increase over the previous year. NNPC's Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, attributed the 2025 performance to disciplined execution and a capable workforce. The company plans to raise crude oil production to two million barrels per day by 2027 and three million barrels per day by 2030.
NNPC is targeting natural gas production of 12 billion standard cubic feet per day by 2030 and aims to mobilize $60 billion in investments across the upstream, midstream, and downstream sectors by 2030. The company completed major infrastructure projects, including the River Niger crossing for the Ajaokuta-Kaduna-Kano gas pipeline project and the ANOH-OB3 Custody Transfer Metering Station.
On sustainability and social investments, NNPC completed 6,028 cataract surgeries and planted 80,000 trees during the year. The company developed its Net Zero 2050 strategy and maintained reporting under various international frameworks. The 2025 audited financial statements are available on NNPC's official website.
Key points
- NNPC's profit after tax increased by 33 percent to ₦7.2 trillion in 2025.
- The company declared a ₦5.8 trillion dividend, a 35 percent increase over the previous year.
- NNPC targets crude oil production of two million barrels per day by 2027 and three million barrels per day by 2030.
