The Nigerian National Petroleum Company Ltd. recorded a N7.2 trillion profit after tax in 2025, up 33 per cent from N5.4 trillion. Group Chief Executive Officer Bayo Ojulari announced this at a media briefing in Abuja on Tuesday, after the company’s Annual General Meeting and second Earnings Call.
Revenue fell 24 per cent to ₦34.5 trillion, largely because of lower crude oil prices and reduced white-product volumes after the 2024 market deregulation. Ojulari said the stronger earnings despite this pressure showed the resilience of NNPC’s operations.
Other indicators also improved: EBITDA rose 22 per cent to ₦18.0 trillion, earnings per share rose 32 per cent to ₦35.9, operating cash flow grew 16 per cent to ₦12.8 trillion, and return on equity improved by 200 basis points to 16 per cent.
The declared dividend rose 35 per cent to N5.8 trillion, while taxes, royalties and other government remittances climbed 39 per cent to N22.3 trillion.
On operations, crude oil and condensate production averaged 1.77 million barrels per day in 2025, the highest in five years.
Total oil and condensate output reached 565.8 million barrels, up 5 per cent, and NNPC’s equity share rose 11 per cent to 223.7 million barrels. The company 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.
Ojulari reaffirmed targets of two million barrels of crude a day by 2027 and three million by 2030, and said NNPC plans to mobilise over $60 billion in investment across the energy value chain.
On the refineries, he said prospective technical equity partners had completed a three-month onsite review involving more than 34 engineers, and NNPC is finalising the report.
On people, the company employed 1,023 full-time staff in 2025, including over 1,000 graduates deployed after a one-year internship and training programme. Women now hold 23% of leadership positions, against an industry average of 17%. Ojulari said the results show “what disciplined execution and a capable workforce can deliver..
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