The Nigerian National Petroleum Company Limited (NNPC Ltd) announced on Tuesday that it recorded a net profit of N7.2 trillion as of the close of the financial year ending December 31, 2025.
The profit, according to the company, reflects a 33 per cent increase from N5.4 trillion recorded in 2024.
Speaking at a press conference on Tuesday, the Group Chief Executive Officer of NNPC Ltd, Bayo Ojulari, said the results underline the company’s growing earnings capacity and operational momentum and provide a stronger platform for growth.
Mr Ojulari said the company’s revenue stood at N34.5 trillion, noting that revenue declined 24 per cent, principally reflecting lower crude oil prices and reduced white product volumes following market deregulation in 2024.
“Stronger earnings despite this pressure demonstrate the resilience of NNPC Limited’s operations,” he said.
According to him, the key financial measures advanced during the period.
He said Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose 22 per cent to N18.0 trillion; Earnings Per Share increased 32 per cent to N35.9; operating cash flow grew 16 per cent to N12.8 trillion.
He stated that the Return on Equity improved by 200 basis points to 16 per cent, and the declared dividend increased 35 per cent to N5.8 trillion.
Production hits five-year high
NNPC said crude oil and condensate production averaged 1.77 million barrels per day, its highest level in five years.
“Natural gas output averaged 7.2 billion standard cubic feet per day, a three-year high. Oil and condensate production totalled 565.8 million barrels, up 5 per cent, with NNPC Limited’s equity share increasing 11 per cent to 223.7 million barrels.
“Natural gas production reached 2,606.2 billion standard cubic feet, up 9 per cent, while its equity share rose 11 per cent to 1,154.9 billion standard cubic feet,” the official said.
The company listed progress across its portfolio to include completion of the Ajaokuta-Kaduna-Kano (AKK) River Niger crossing and full completion of the 40-inch by 623-kilometre AKK mainline.
NNPC Limited said it commissioned the ANOH-OB3 Custody Transfer Metering Station and advanced the 300MMscfd ANOH Gas Processing Plant to start-up readiness.
It also acquired 500 CNG-powered trucks and adopted a Technical Equity Partnership Model for its refinery reform.
The company said its talent-to-value transformation is building the workforce needed to deliver its commercial priorities.
In 2025, the company said it employed 1,023 full-time employees, including over 1,000 graduates who were recently deployed following a rigorous one-year internship and training programme.
“Women now hold 23 per cent of leadership positions, compared with an industry average of 17 per cent. Through its Talent- to-Value and Fit-for-Future strategy, the company is combining experience with emerging talent, expanding digital and international exposure, and strengthening the capabilities required for sustained growth.
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“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,” Mr Ojulari said.
On sustainability, the company said it completed 6,028 cataract surgeries, planted 80,000 trees, developed its Net Zero 2050 strategy and maintained reporting under Oil and Gas Methane Partnership (OGMP), Oil and Gas Decarbonisation Charter (OGDC), and United Nations Global Compact (UNGC) frameworks.
Targets
NNPC Limited said it entered the next phase of growth with clear production and investment ambitions.
The company said it is targeting crude oil production of 2 million barrels per day by 2027 and 3 million barrels per day by 2030, alongside natural gas output of 12 billion standard cubic feet per day by 2030.
The company said it plans to mobilise $60 billion in upstream, midstream and downstream investments by 2030 and complete major gas infrastructure, including AKK, ELPS and OB3.
