By Stella Odueme
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a profit after tax of ₦7.2 trillion for the financial year ended December 31, 2025, representing a 33 per cent increase from the ₦5.4 trillion recorded in 2024.
The company disclosed this on Monday following its Annual General Meeting and second Earnings Call with financial and business analysts, saying the performance reflected stronger earnings and improved operational efficiency despite lower crude oil prices and reduced white product volumes.
NNPC Ltd’s revenue stood at ₦34.5 trillion, a 24 per cent decline from the previous year, while Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) increased by 22 per cent to ₦18 trillion.
The company’s operating cash flow also rose by 16 per cent to ₦12.8 trillion, while Earnings Per Share increased by 32 per cent to ₦35.9. Return on Equity improved by 200 basis points to 16 per cent.
The company declared a dividend of ₦5.8 trillion, representing a 35 per cent increase over the previous year.
On production, NNPC Ltd said crude oil and condensate output averaged 1.77 million barrels per day in 2025, the highest level recorded in five years.
Natural gas production also averaged 7.2 billion standard cubic feet per day, representing a three-year high.
Total oil and condensate production stood at 565.8 million barrels, up five per cent, while the company’s equity share increased by 11 per cent to 223.7 million barrels.
Natural gas production rose by nine per cent to 2,606.2 billion standard cubic feet, with NNPC Ltd’s equity share increasing by 11 per cent to 1,154.9 billion standard cubic feet.
The company said it also recorded progress across major infrastructure projects, including the completion of the River Niger crossing section of the Ajaokuta-Kaduna-Kano (AKK) pipeline and the full completion of its 40-inch, 623-kilometre mainline.
NNPC Ltd also commissioned the ANOH-OB3 Custody Transfer Metering Station and advanced the 300 million standard cubic feet per day ANOH Gas Processing Plant to start-up readiness.
It further acquired 500 Compressed Natural Gas-powered trucks and adopted a Technical Equity Partnership Model as part of efforts to reform its refinery operations.
On workforce development, the company said it employed 1,023 full-time employees in 2025, including more than 1,000 graduates who were deployed after completing a one-year internship and training programme.
Women now account for 23 per cent of leadership positions in the company, compared with an industry average of 17 per cent, it said.
Speaking on the performance, the Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari on Tuesday, said the results demonstrated the impact of disciplined execution and a capable workforce.
“Our 2025 performance shows what disciplined execution and a capable workforce can deliver,” Ojulari said.
He added that the company was strengthening earnings, increasing production and investing in its people and assets to create value for shareholders, communities and Nigerians.
On sustainability, NNPC Ltd said it completed 6,028 cataract surgeries, planted 80,000 trees and developed its Net Zero 2050 strategy.
The company also maintained sustainability reporting under the Oil and Gas Methane Partnership, Oil and Gas Decarbonization Charter and United Nations Global Compact frameworks.
Looking ahead, NNPC Ltd said it was targeting crude oil production of two million barrels per day by 2027 and three million barrels per day by 2030.
It also targets natural gas production of 12 billion standard cubic feet per day by 2030, alongside plans to mobilise $60 billion in upstream, midstream and downstream investments by the end of the decade.
The company said it would also focus on completing major gas infrastructure projects, including the AKK, Escravos-Lagos Pipeline System (ELPS) and Obiafu-Obrikom-Oben (OB3) projects.
NNPC Ltd became a fully commercial, profit-driven company in July 2022 following the enactment of the Petroleum Industry Act 2021.
The company said its 2025 Audited Financial Statements are available on its official website.