NNPC Reports N5.7trn Profit, N60.5trn Revenue in 2025

The Nigerian National Petroleum Company LimitedNNPC) recorded a profit after tax of N5.76tn and total revenue of N60.517tn for the 2025 financial year, even as crude oil and condensate production declined to 1.54 million barrels per day (mbpd) in December.

Figures contained in the NNPC Limited Monthly Report Summary for December 2025 showed that statutory payments to the Federation from January to December stood at N14.706 trillion.

The report indicated that all production, sales, and financial figures remain provisional and subject to reconciliation with relevant stakeholders, while revenue reflects aggregate group-wide earnings, including intercompany transactions.

NNPC’s monthly profit performance fluctuated over the year. It posted a loss of N161bn in January and a marginal loss of N7bn in March before returning to profitability in subsequent months.

Profit peaked at N1.054tn in May, followed by N904bn in June. Earnings moderated in the second half of the year, with N180bn in July, N539 billion in August, and N216bn in September.

The company recorded N447bn in October, N502bn in November, and N351bn in December.

Revenue similarly varied across the year, rising from N3.824tn in January to N6.624tn in February. It remained above N5tn between March and June before declining to N4.406tn in July and N4.655tn in August. Revenue stood at N4.269tn in September, N5.078tn in October, N4.358tn in November, and N4.824tn in December.

Statutory remittances were highest in February at N3.099tn, with other notable payments including N1.286tn in September and N1.27tn in December.

Crude oil and condensate production averaged 1.54 mbpd in December, down from the 2025 peak production of 1.77 mbpd recorded earlier in the year. Monthly output showed a gradual decline in the fourth quarter, from 1.58 mbpd in October to 1.60 mbpd in November before falling to 1.54 mbpd in December.

The company attributed December’s production performance to planned maintenance work at Stardeep-Agbami and Renaissance-Estuary Area, as well as unplanned outages at production facilities.

Upstream pipeline availability improved steadily during the year, rising from 86 per cent in January to 100 per cent between October and December. Natural gas production stood at 6,914 million standard cubic feet per day (mmscfd) in December. Production reached a high of 7,722 mmscfd in July before dropping to 6,284 mmscfd in September and recovering in the final quarter.

Gas sales, reported on an M-2 basis, were 4,754 mmscfd in December. Sales peaked at 4,978 mmscfd in July and dipped to 3,443 mmscfd in September.

Crude oil and condensate sales recorded significant monthly swings during the year, ranging from 16.3 million barrels in March to 26.7 million barrels in October. December sales stood at 22.8 million barrels.

NNPC Retail Limited station availability for Premium Motor Spirit improved from 30 per cent in January to 77 per cent in September. Availability dropped to 50 per cent in October before recovering to 61 per cent in November and 65 per cent in December.

The Ajaokuta-Kaduna-Kano Gas Pipeline project recorded 91 per cent completion. Mainline welding works were successfully completed as scheduled, with intensified efforts to finish the Intermediate Pigging Stations and Block Valve Stations.

The Obiafu-Obrikom-Oben Gas Pipeline project reached 96 per cent completion. NNPC said all early works on the River Niger crossing were completed, and pilot hole drilling commenced, with the project on course for scheduled completion.

Under its public impact initiatives, the NNPC Foundation disbursed N531,000 to each beneficiary under its Youth Empowerment Programme, implemented in partnership with the National Youth Service Corps. This support complements an earlier Starter Pack Empowerment provided to 531 beneficiaries to help young Nigerians establish sustainable businesses.

The December report underscores a financially strong year for the national oil company, despite operational challenges that affected crude output in the final month of 2025.