The Nigerian National Petroleum Company Limited has announced an impressive profit after tax of N7.2 trillion for the 2025 financial year, marking a 33 percent jump from the N5.4 trillion recorded the previous year. This substantial financial milestone comes even as the company experienced a 23.4 percent drop in total revenue, which slid from N45.075 trillion in 2024 down to N34.516 trillion in 2025.
The state-backed oil firm also reported earnings per share of N35.9, alongside a notable 39 percent increase in its contributions to the government. Total taxes, royalties, and various remittances pushed past expectations to reach N22.3 trillion. Leadership at the company pointed to strict cost discipline and sharper operational efficiency as the primary drivers behind the profit surge, proving that tighter management can offset softer top-line figures.
Addressing the financial outcome, the Group Chief Executive Officer, Engr. Bayo Ojulari, explained that the revenue dip was largely triggered by softer global crude oil prices and lower white-product trading volumes following the full deregulation of the downstream market. Despite those headwinds, the upstream sector showed remarkable muscle, hitting a five-year peak production rate of 1.77 million barrels per day for crude and condensates over the course of the year.
On the domestic front, the company maintained a strong focus on local energy security. Total crude oil production for the year hit 565.8 million barrels, with a significant 278.2 million barrels channeled directly to local refineries. At the same time, natural gas supply scaled a three-year high of 7.2 billion standard cubic feet per day, feeding commercial customers and power plants with a combined total of 473.3 billion standard cubic feet throughout the year.
