Nigeria’s national oil company, NNPC Limited, has announced a Profit After Tax of ₦7.2 trillion for the 2025 financial year, representing a 33 per cent increase from the ₦5.4 trillion recorded in 2024.
The company also declared a record dividend of ₦5.8 trillion for shareholders after its Annual General Meeting and second Earnings Call with financial and business analysts.
The audited financial results released on Tuesday showed that despite a drop in revenue to ₦34.5 trillion, caused mainly by lower global crude oil prices and reduced sales of white petroleum products after market deregulation, the company improved its profitability through stronger operational performance.
NNPC said its Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose by 22 per cent to ₦18 trillion, while operating cash flow increased by 16 per cent to ₦12.8 trillion. Earnings per share also climbed by 32 per cent to ₦35.9, while Return on Equity improved to 16 per cent.
The company also recorded one of its strongest production performances in recent years.
According to the report, crude oil and condensate production averaged 1.77 million barrels per day, the highest level in five years. Natural gas production also reached 7.2 billion standard cubic feet per day, the highest in three years.
Overall, oil and condensate production increased by five per cent to 565.8 million barrels, while natural gas production rose by nine per cent to 2,606.2 billion standard cubic feet.
NNPC said it made significant progress on major energy infrastructure projects during the year.
These include the completion of the River Niger crossing on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, full completion of the 623-kilometre AKK mainline, commissioning of the ANOH-OB3 Custody Transfer Metering Station, and advancement of the ANOH Gas Processing Plant to start-up readiness.
The company also acquired 500 Compressed Natural Gas (CNG)-powered trucks and introduced a Technical Equity Partnership Model as part of its refinery reform programme.
On workforce development, NNPC employed 1,023 full-time staff, including more than 1,000 graduates who completed a one-year internship and training programme.
It added that women now occupy 23 per cent of leadership positions, above the industry average of 17 per cent.
Speaking on the results, the Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, said the company’s performance reflected disciplined execution and investment in its workforce.
“Our 2025 performance shows what disciplined execution and a capable workforce can deliver. 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.”
On sustainability, NNPC said it carried out 6,028 cataract surgeries, planted 80,000 trees, developed its Net Zero 2050 strategy, and continued reporting under global environmental and sustainability frameworks.
Looking ahead, the company said it aims to increase crude oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030.
It also targets natural gas production of 12 billion standard cubic feet per day by 2030 and plans to attract $60 billion in investments across the upstream, midstream and downstream sectors.
NNPC Limited became a fully commercial and profit-driven company in July 2022 following the implementation of the Petroleum Industry Act (PIA) 2021.
Since then, the company has focused on improving operational efficiency, boosting oil and gas production, expanding critical energy infrastructure and increasing returns to shareholders while supporting Nigeria’s energy security and economic growth.
