By Suleiman Aremu | Solaremnews | Tuesday 29, September, 2026
The Nigerian National Petroleum Company Limited (NNPC Ltd) has recorded a profit after tax of ₦7.2 trillion for the financial year ended 31 December 2025, representing a 33 per cent increase from the ₦5.4 trillion recorded in 2024.
The company also declared a dividend of ₦5.8 trillion, an increase of 35 per cent, as it recorded stronger earnings and increased oil and gas production despite lower crude oil prices and reduced white product volumes following market deregulation.
The figures were contained in a press statement issued in Abuja on Tuesday by Andy Odeh, Chief Corporate Communications Officer, NNPC Ltd, following the company’s Annual General Meeting and second Earnings Call with financial and business analysts.
According to the statement, NNPC Ltd’s revenue stood at ₦34.5 trillion in 2025, representing a 24 per cent decline, principally reflecting lower crude oil prices and reduced white product volumes following the deregulation of the market in 2024.
The company, however, said the stronger earnings recorded despite the revenue decline demonstrated the resilience of its operations and provided a stronger platform for future growth.
NNPC Ltd’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose by 22 per cent to ₦18.0 trillion, while Earnings Per Share increased by 32 per cent to ₦35.9.
Operating cash flow also grew by 16 per cent to ₦12.8 trillion, while Return on Equity improved by 200 basis points to 16 per cent.
The company said its declared dividend increased by 35 per cent to ₦5.8 trillion.
NNPC Ltd recorded significant growth in oil and gas production during the year, with crude oil and condensate production averaging 1.77 million barrels per day.
The company said this was its highest crude oil and condensate production level in five years.
Total oil and condensate production stood at 565.8 million barrels, representing a five per cent increase, while NNPC Ltd’s equity share rose by 11 per cent to 223.7 million barrels.
Natural gas production also reached a three-year high, averaging 7.2 billion standard cubic feet per day.
Total natural gas production stood at 2,606.2 billion standard cubic feet, up nine per cent, while the company’s equity share increased by 11 per cent to 1,154.9 billion standard cubic feet.
The company said it recorded progress across its portfolio during the year, including the completion of the AKK River Niger crossing and full completion of the 40-inch by 623-kilometre Ajaokuta-Kaduna-Kano (AKK) mainline.
NNPC Ltd also commissioned the ANOH-OB3 Custody Transfer Metering Station and advanced the 300 million standard cubic feet per day (MMscfd) ANOH Gas Processing Plant to start-up readiness.
In addition, the company acquired 500 CNG-powered trucks and adopted a Technical Equity Partnership Model for its refinery reform programme.
NNPC Ltd said its Talent-to-Value transformation programme is helping to build the workforce required to support its commercial priorities.
The company employed 1,023 full-time employees in 2025, including more than 1,000 graduates who were recently deployed after completing a rigorous one-year internship and training programme.
Women now occupy 23 per cent of leadership positions in the company, compared with an industry average of 17 per cent, according to NNPC Ltd.
The company said its Talent-to-Value and Fit-for-Future strategies are combining experience with emerging talent, expanding digital and international exposure and strengthening the capabilities required for sustained growth.
Commenting on the performance, the Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari, said the 2025 results demonstrated what disciplined execution and a capable workforce could deliver.
“Our 2025 performance shows what disciplined execution and a capable workforce can deliver,” Ojulari said.
He added that NNPC Ltd was strengthening earnings, growing production and investing in people and assets that would sustain value for its shareholders, communities and the Nigerian people.
On sustainability, NNPC Ltd said it completed 6,028 cataract surgeries and planted 80,000 trees during the year.
The company also developed its Net Zero 2050 strategy and maintained reporting under the Oil and Gas Methane Partnership (OGMP), Oil and Gas Decarbonization Charter (OGDC) and United Nations Global Compact (UNGC) frameworks.
Looking ahead, NNPC Ltd said it was entering the next phase of growth with clear production and investment ambitions.
The company is 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.
To support these ambitions, NNPC Ltd plans to mobilise $60 billion in upstream, midstream and downstream investments by 2030.
The company also plans to complete major gas infrastructure projects, including the Ajaokuta-Kaduna-Kano (AKK) pipeline, Escravos-Lagos Pipeline System (ELPS) and Obiafu-Obrikom-Oben (OB3) gas pipeline.
NNPC Ltd, established in 1977, became a fully commercial, profit-driven company in July 2022 under the Petroleum Industry Act 2021.
It operates across exploration, production, refining and distribution, with a mandate to create lasting value for its shareholders and strengthen energy security for Nigeria and Africa.
The 2025 Audited Financial Statement is available on the company’s official website, www.nnpcgroup.com.
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