NNPC Oil, Gas Production Hits Multi-Year Highs as 2025 Profit Climbs to ₦7.2trn
NNPC Limited has reported a Profit After Tax (PAT) of ₦7.2 trillion for the financial year ended December 31, 2025, representing a 33 per cent increase from the ₦5.4 trillion recorded in 2024.
The company announced the results at its Annual General Meeting and second Earnings Call with financial and business analysts, highlighting improved earnings and increased oil and gas production despite lower crude oil prices and reduced white product volumes.
NNPC Limited recorded revenue of ₦34.5 trillion during the year, a 24 per cent decline from the previous year. The company attributed the decline mainly to lower crude oil prices and reduced white product volumes following market deregulation in 2024.
Despite the reduction in revenue, the company’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) increased by 22 per cent to ₦18 trillion, while operating cash flow rose by 16 per cent to ₦12.8 trillion.
Earnings Per Share also increased by 32 per cent to ₦35.9, while Return on Equity improved by 200 basis points to 16 per cent.
The company declared a dividend of ₦5.8 trillion, representing a 35 per cent increase compared with the previous year.
Oil, Gas Production Rise
NNPC Limited said crude oil and condensate production averaged 1.77 million barrels per day in 2025, the company’s highest level in five years.
Natural gas production also increased, averaging 7.2 billion standard cubic feet per day, representing a three-year high.
Total oil and condensate production stood at 565.8 million barrels, an increase of five per cent, while NNPC Limited’s equity share rose by 11 per cent to 223.7 million barrels.
Natural gas production reached 2,606.2 billion standard cubic feet, up nine per cent, while the company’s equity share increased by 11 per cent to 1,154.9 billion standard cubic feet.
The company also reported progress on several major infrastructure and investment projects.
These include the completion of the AKK River Niger crossing and the full completion of the 40-inch by 623-kilometre Ajaokuta-Kaduna-Kano (AKK) mainline.
NNPC Limited also commissioned the ANOH-OB3 Custody Transfer Metering Station and advanced the 300 million standard cubic feet per day ANOH Gas Processing Plant to start-up readiness.
The company further acquired 500 CNG-powered trucks and adopted a Technical Equity Partnership Model as part of its refinery reform strategy.
Workforce Transformation
NNPC Limited said its Talent-to-Value transformation programme is strengthening its workforce to support the company’s commercial priorities.
In 2025, the company employed 1,023 full-time employees, including more than 1,000 graduates who were deployed after completing a rigorous one-year internship and training programme.
Women now occupy 23 per cent of leadership positions at the company, compared with an industry average of 17 per cent, according to NNPC Limited.
The company said its Talent-to-Value and Fit-for-Future strategies are focused on combining experienced personnel with emerging talent while expanding digital and international exposure and strengthening capabilities.
Commenting on the results, the Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, said the 2025 performance demonstrated the impact of disciplined execution and a capable workforce.
“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,” Ojulari said.
Sustainability Initiatives
NNPC Limited said it completed 6,028 cataract surgeries and planted 80,000 trees during the year as part of its sustainability initiatives.
The company also developed its Net Zero 2050 strategy and maintained reporting under the Oil and Gas Methane Partnership (OGMP), Oil and Gas Decarbonization Charter (OGDC) and United Nations Global Compact (UNGC) frameworks.
NNPC Targets Higher Production
Looking ahead, NNPC Limited said it is targeting crude oil production of two million barrels per day by 2027 and three million barrels per day by 2030.
The company also plans to increase natural gas production to 12 billion standard cubic feet per day by 2030.
To support its growth ambitions, NNPC Limited plans to mobilise $60 billion in upstream, midstream and downstream investments by 2030.
It also plans to complete major gas infrastructure projects, including the Ajaokuta-Kaduna-Kano (AKK) pipeline, Escravos-Lagos Pipeline System (ELPS) and Obiafu-Obrikom-Oben (OB3) gas pipeline.
NNPC Limited became a fully commercial, profit-driven company in July 2022 under the Petroleum Industry Act 2021.
The company’s 2025 Audited Financial Statements are available on its official website, www.nnpcgroup.com.
