NNPC posts N7.2tn profit for 2025, remits N22.3tn to government
By Aboki Forex —
NNPC Ltd recorded a profit after tax of N7.2 trillion in 2025, a 33% rise from the N5.4 trillion posted in 2024. Group Chief Executive Officer Bayo Ojulari announced the results on Tuesday, September 29, in Abuja.
Revenue for the year stood at N34.5 trillion, even as lower international crude oil prices and a drop in product volumes following the removal of fuel subsidies weighed on earnings. The company said tighter operational discipline drove the bottom line.
What the numbers say
Ojulari put the performance plainly: "Profit after tax rose 33%, from N5.4tn in 2024 to N7.2tn in 2025. Revenue was N34.5tn. While taxes, royalties and other remittances to government rose 39% to N22.3tn."
That N22.3 trillion paid to the Nigerian government covers taxes, royalties and other remittances, up 39% from the previous year. In effect, the state collected significantly more from the national oil company in 2025 than it did in 2024.
The company did not provide a segment-by-segment breakdown of how individual business units contributed to the overall profit increase.
Production and gas supply
The financial result was backed by stronger output. Crude oil and condensate production peaked at 1.77 million barrels per day in 2025, the company's best figure in five years.
Domestic gas supply climbed to 7.2 billion standard cubic feet per day, a three-year high. Ojulari linked both to increased focus on NNPC's assets and infrastructure.
"Yet, profit grew because we improved the way we operate. And we maintained discipline across our businesses," he said.
Investment capacity and energy security
Ojulari said the stronger showing would expand the company's ability to invest and contribute to public finances, while reinforcing Nigeria's energy security.
"Strong performance gives NNPC Limited more capacity to invest, more capacity to contribute to public revenue and strengthen Nigeria's energy security," he said.
He also acknowledged that delivering exceptional results raises the bar for future performance. "As we deliver exceptional results, the following year we strive to even beat those records," he added.
The results land against a backdrop of relief at the pump. NNPC recently cut petrol prices at its filling stations in Lagos and Abuja. A market survey showed the reduction was steeper in Lagos, where the company lowered its pump price by N35 per litre. In the Federal Capital Territory, the price came down by N15 per litre.
For the naira, a bigger remittance to the federation account means more dollar-denominated oil revenue flowing through the official channels, which supports foreign exchange supply. For consumers and businesses, the size of that transfer matters less in the short term than what happens at the pump and in the exchange rate. The stronger crude and gas output figures, if sustained, give both room to hold.