NNPC Limited reports ₦7.2 trillion profit for 2025

The Nigerian National Petroleum Company (NNPC) Limited reported a 33 percent increase in net profit for the 2025 financial year, reaching ₦7.2 trillion, up from ₦5.4 trillion in 2024. This profit growth occurred despite a revenue decline of approximately 23 to 24 percent, which fell from ₦45.1 trillion in 2024 to ₦34.5 trillion in 2025. The revenue drop was attributed to lower crude oil prices and reduced white-product volumes following downstream market deregulation.

Analysts noted that the profit increase was supported by a ₦5 trillion rise in other income and a ₦1 trillion reduction in general and administrative expenses. Group Chief Executive Officer Bayo Ojulari attributed the improved profitability to stronger operations, tighter financial discipline, and a more deliberate approach to costs.

While the company declared a ₦5.8 trillion dividend and saw taxes, royalties, and other government remittances rise by 39 percent to ₦22.3 trillion, questions remain regarding the sustainability of the “other income” performance and the company's ability to maintain discipline during its upcoming expansion programs.