NNPC Limited has reported a 33 per cent increase in Profit After Tax (PAT) to ₦7.2 trillion for the financial year ended December 31, 2025, and declared a dividend of ₦5.8 trillion, reflecting stronger earnings and improved operational performance.
The company disclosed this in its audited 2025 financial results, announced on September 29, 2026, following its Annual General Meeting and second earnings call with financial and business analysts.
The profit represents an increase from ₦5.4 trillion recorded in 2024, while revenue stood at ₦34.5 trillion, a 24 per cent decline from the previous year.
According to the company, the revenue reduction was principally driven by lower crude oil prices and reduced white product volumes following market deregulation in 2024.
Despite the decline in revenue, NNPC Limited recorded improvements across several key financial indicators.
Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose by 22 per cent to ₦18 trillion, while earnings per share increased by 32 per cent to ₦35.9.
Operating cash flow grew by 16 per cent to ₦12.8 trillion, and return on equity improved by 200 basis points to 16 per cent. The declared dividend of ₦5.8 trillion represents a 35 per cent increase.
*Oil and Gas Production Reaches Multi-Year Highs*
On the operational front, NNPC Limited reported average crude oil and condensate production of 1.77 million barrels per day, its highest level in five years.
Natural gas output averaged 7.2 billion standard cubic feet per day, marking a three-year high.
Total crude oil and condensate production reached 565.8 million barrels, an increase of five per cent, while the company’s equity share rose by 11 per cent to 223.7 million barrels.
Natural gas production totalled 2,606.2 billion standard cubic feet, representing a nine per cent increase. NNPC Limited’s equity share of gas production grew by 11 per cent to 1,154.9 billion standard cubic feet.
*Gas Infrastructure and Refinery Reforms*
The company also reported progress on major energy infrastructure projects.
The Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline recorded the completion of its River Niger crossing and the full completion of its 40-inch, 623-kilometre 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.
In the transportation sector, the company acquired 500 compressed natural gas (CNG)-powered trucks as part of efforts to support gas utilisation and cleaner transportation.
It also adopted a Technical Equity Partnership Model for its refinery reform programme.
*Workforce Development and Sustainability*
NNPC Limited said its talent-to-value transformation continued to strengthen its workforce and organisational capabilities.
The company employed 1,023 full-time employees in 2025, including more than 1,000 graduates recently deployed after completing a rigorous one-year internship and training programme.
Women accounted for 23 per cent of leadership positions, compared with an industry average of 17 per cent, according to the company.
On sustainability, NNPC Limited completed 6,028 cataract surgeries, planted 80,000 trees, developed its Net Zero 2050 strategy, and maintained reporting under the Oil and Gas Methane Partnership, Oil and Gas Decarbonization Charter, and United Nations Global Compact frameworks.
*NNPC Targets 3 Million Barrels Per Day by 2030*
Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, said the 2025 performance reflected disciplined execution and a capable workforce.
“Our 2025 performance shows what disciplined execution and a capable workforce can deliver,” Ojulari said.
He added that the company was strengthening earnings, growing production, and investing in the people and assets required to sustain value for shareholders, communities, and Nigerians.
Looking ahead, NNPC Limited 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 output to 12 billion standard cubic feet per day by 2030 and mobilise $60 billion in upstream, midstream, and downstream investments by the same year.
Its infrastructure priorities include completing major gas projects such as the AKK, Escravos-Lagos Pipeline System (ELPS), and Obiafu-Obrikom-Oben (OB3) pipelines.
The company said its growth strategy is focused on strengthening commercial performance, expanding energy infrastructure, and supporting Nigeria’s energy security.
The full 2025 Audited Financial Statement is available on the NNPC Limited website: www.nnpcgroup.com.
