NNPC declares ₦7.2tn after tax profit in 2025 financial year

NNPC Limited has declared profit after tax of ₦7.2 trillion for its 2025 financial year, from ₦5.4 trillion achieved in 2024. Bashir Ojulari, the Group Chief Executive of the company, announced the audited results of the company for the year ended Dec 31, 2025 at its annual general meeting in Abuja.

He said the results underlined the company’s growing earnings capacity and operational momentum and provided a stronger platform for growth. The NNPC chief said the company’s revenue, which stood at ₦34.5 trillion at the end of 2025 financial year, indicated a 24% decline from revenue recorded in 2024 financial year.

He attributed the drop in revenue to lower crude oil prices and reduced white product volumes following market deregulation in 2024. Ojulari also announced the key financial results of the company in 2025 as “EBITDA rose 22% to ₦18.0 trillion; Earnings per Share increased 32% to ₦35.9; operating cash flow grew 16% to ₦12.8 trillion; Return on Equity improved by 200 basis points to 16%; and the declared dividend increased 35% to ₦5.8 trillion.”

The NNPC boss said crude oil and condensate production averaged 1.77 million barrels per day during the year, its highest level in five years, while natural gas output averaged 7.2 billion standard cubic feet per day, a three-year high.

“Oil and condensate production totalled 565.8 million barrels, up 5%, with NNPC Limited’s equity share increasing 11% to 223.7 million barrels. Natural gas production reached 2,606.2 billion standard cubic feet, up 9%, while its equity share rose 11% to 1,154.9 billion standard cubic feet,” he said.

The company said its progress across the portfolio included completion of the AKK River Niger crossing and full completion of the 40-inch by 623-kilometre Ajaokuta-Kaduna-Kano mainline. “NNPC Limited commissioned the ANOH-OB3 Custody Transfer Metering Station and advanced the 300MMscfd ANOH Gas Processing Plant to start-up readiness.

“It also acquired 500 CNG-powered trucks, and adopted a Technical Equity Partnership Model for its refinery reform. Our 2025 performance shows what disciplined execution and a capable workforce can deliver,” said Engr. Bashir Bayo Ojulari, Group Chief Executive Officer of NNPC Limited.

“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,” he said.

On sustainability, the Company completed 6,028 cataract surgeries, planted 80,000 trees, developed its Net Zero 2050 strategy and maintained reporting under Oil and Gas Methane Partnership (OGMP), Oil and Gas Decarbonization Charter (OGDC), and United Nations Global Compact (UNGC) frameworks.

Ojulari said the NNPC was entering the next phase of growth with clear production and investment ambitions. “It is targeting crude oil production of 2 million barrels per day by 2027 and 3 million barrels per day by 2030, alongside natural 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 complete major gas infrastructure, including AKK, ELPS and OB3,” he said.