NNPC profit jumps 33% to ₦7.2trn in 2025 despite revenue fall
NNPC Limited’s profit after tax rose 33% to ₦7.2 trillion in 2025 from ₦5.4 trillion the previous year, even as revenue fell 24% to ₦34.5 trillion due to lower crude oil prices and deregulation impacts. EBITDA grew 22% to ₦18.0 trillion and operating cash flow increased 16% to ₦12.8 trillion. The company declared a dividend of ₦5.8 trillion, up 35%, and earnings per share rose to ₦35.9.
Production grew: crude oil and condensate output averaged 1.77 million barrels per day (up 5%), natural gas averaged 7.2 billion standard cubic feet per day (up 9%). NNPC completed the River Niger crossing for the AKK gas pipeline and finished the 623‑km mainline. It also added 1,023 full‑time employees, raised women’s share of leadership to 23%, and carried out 6,028 cataract surgeries and 80,000 tree plantings.
Looking ahead, NNPC targets 2 million barrels per day by 2027 and 3 million by 2030, alongside 12 billion scfd of gas, and plans to mobilise $60 billion in upstream, midstream and downstream investments by 2030.
With earnings strengthening despite lower revenue, will you see this as a sign of resilience in Nigeria’s oil sector, or remain cautious about future price volatility and reform effects?