NNPC PROFIT RISES TO N7.2TN

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The Nigerian National Petroleum Company Limited recorded a 33 per cent increase in profit after tax to N7.2tn in 2025, despite a decline in revenue during the year.

NNPC Group Chief Executive Officer, Bayo Ojulari, disclosed this on Tuesday in Abuja while presenting the company’s 2025 audited financial results.

According to the results, profit after tax increased from N5.4tn in 2024 to N7.2tn in 2025, representing a rise of N1.8tn.

The company recorded revenue of N34.5tn, while earnings per share stood at N35.9.

Ojulari said NNPC’s taxes, royalties and other remittances to the government rose by 39 per cent to N22.3tn during the year.

He attributed the stronger profitability to improved operational efficiency and financial discipline, despite lower international crude oil prices and reduced product volumes following changes in the domestic petroleum market.

The GCEO also said crude oil and condensate production reached a five-year high of 1.77 million barrels per day.

Nigeria’s gas supply also rose to 7.2 billion standard cubic feet per day, which Ojulari described as a three-year high.

He said the improved performance would give NNPC greater capacity to invest in its businesses, contribute to government revenue and support the country’s energy security.