Abuja:The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) reported a Profit After Tax (PAT) of N7.2 trillion in 2025, marking a 33 percent increase from N5.4 trillion the previous year. This announcement was made by Mr. Bayo Ojulari, Group Chief Executive Officer, during a media briefing in Abuja following the company’s Annual General Meeting and second Earnings Call.
According to News Agency of Nigeria, NNPC’s revenue fell to N34.5 trillion from N45.1 trillion in 2024, a decline attributed to lower crude oil prices and decreased product volumes due to market deregulation.
Despite the revenue drop, earnings per share increased to N35.90 from N27.07, and return on equity improved by 200 basis points to 16 percent. The company’s declared dividend rose by 35 percent to N5.8 trillion, while taxes, royalties, and other government remittances increased by 39 percent to N22.3 trillion.
Ojulari emphasized that stronger earnings amidst pressure indicate the resilience of NNPC Limited’s operations. He credited the profit growth to enhanced operations and maintained discipline across the company’s businesses. Crude oil and condensate production reached 1.77 million barrels per day, a five-year peak, and gas supply hit a three-year high of 7.2 billion standard cubic feet per day.
The company completed the mainline of the Ajaokuta-Kaduna-Kano gas pipeline, with ongoing work on tie-ins to delivery points in Abuja, Ajaokuta, and Kaduna. The next goal is to begin gas flow through the pipeline to industries and power plants. Additionally, the Obiafu-Obrikom-Oben (OB3) gas pipeline was completed in 2026 after facing several challenges.
Regarding refineries, Ojulari mentioned that prospective partners under NNPC’s technical equity partnership model conducted a three-month onsite review. With over 34 engineers involved, the company is finalizing the report, aiming for self-sustaining and profitable refineries with a clear pathway soon.
NNPC targets producing two million barrels of crude oil daily by 2027 and three million by 2030. Gas production targets are set at 10 billion cubic feet per day by 2027 and 12 billion by 2030. The company plans to mobilize over 60 billion dollars of investment across the energy value chain.
In 2025, more than 1,000 newly recruited professionals joined NNPC under its Talent to Value programme, completing a one-year internship and training before deployment across the company.