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NNPC Limited operational and infrastructure developments

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2026-10-14 20:00 UTC → 2026-10-21 19:55 UTC · added removed

NNPC Limited reported a 33% increase in profit after tax for the 2025 fiscal year, reaching ₦7.2 trillion, up from ₦5.4 trillion in 2024. This growth occurred despite a revenue decline of approximately 23% to 24%, falling from ₦45.1 trillion in 2024 to ₦34.5 trillion in 2025 due to lower crude prices and downstream market deregulation. Analysts noted 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 CEO Bayo Bashir Ojulari attributed the improved profitability to “stronger operations, tighter financial discipline, and a more deliberate approach to costs.” The company declared a ₦5.8 trillion dividend, while government remittances rose by 39% to ₦22.3 trillion. In its published 2025 Audited Financial Statements (AFS), independent auditor PricewaterhouseCoopers (PwC) issued an unmodified audit opinion. The reports highlight a strategic repositioning toward higher-quality revenue streams and improved cash generation. Regarding its transition to a public entity, Group CEO Bayo Bashir Ojulari stated that the company has completed a baseline assessment is advancing preparations for its an Initial Public Offering (IPO) as mandated by the Petroleum Industry Act 2021. NNPC While the company has completed a baseline assessment and is currently addressing governance and reporting gaps identified gaps, some estimates suggest the listing could be postponed until 2028. This IPO is part of a broader 10-year strategic plan to increase Nigeria’s stock market capitalization to 750 trillion naira by advisers 2036. Finance Minister Taiwo Oyedele stated that making shares available aims to prepare for expand the capital market listing. Simultaneously, market, improve transparency, and broaden the company ownership of national assets. Simultaneously, NNPC is working to bolster domestic production through refinery rehabilitation. NNPC The company is awaiting technical reports from two Chinese firms, Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Limited, following three months of on-site assessments at the Port Harcourt and Warri refineries. The company NNPC is pursuing a technical equity partnership model to ensure these refineries become “commercially competitive and profitable.”

Versions

  1. 2026-10-21 19:55 UTC NNPC Limited operational and infrastructure developments
  2. 2026-10-14 20:00 UTC NNPC Limited operational and infrastructure developments
  3. 2026-10-12 05:50 UTC NNPC Limited operational and infrastructure developments
  4. 2026-10-07 10:53 UTC NNPC Limited operational and infrastructure developments
  5. 2026-10-05 13:24 UTC NNPC Limited operational and infrastructure developments
  6. 2026-10-05 10:53 UTC NNPC Limited operational and infrastructure developments

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