The NNPC profit after tax 2025 has climbed by 33 percent to ₦7.2 trillion, even though the company’s revenue fell during the year as crude oil prices declined and petroleum product volumes dropped. The Nigerian National Petroleum Company Limited announced the audited results on Tuesday, September 29, showing a sharp rise from the ₦5.4 trillion profit recorded in 2024.
The result creates an unusual picture for Nigeria’s state-owned energy company. NNPC made more profit while bringing in less revenue, pointing to the growing importance of cost control, operational efficiency and higher production.
Why NNPC Profit Increased Despite Lower Revenue
The NNPC ₦7.2 trillion profit came as revenue dropped by about 24 percent to ₦34.5 trillion. NNPC attributed the decline mainly to lower crude oil prices and reduced white-product volumes following the deregulation of the petroleum market in 2024.
However, improved operational efficiency helped protect the company’s bottom line. NNPC also intensified debt recovery and reduced administrative expenses, according to its 2025 results and subsequent comments from management.
That means the headline figure is not simply about selling more oil at higher prices. The company says tighter financial discipline and better operations helped it generate stronger earnings under more difficult market conditions.
Higher Production Helped Strengthen The Numbers
The NNPC crude oil production 2025 figures also provide important context. Crude oil and condensate production reached a five-year peak of 1.77 million barrels per day, while domestic gas supply reached a three-year high of 7.2 billion standard cubic feet per day.
The increase in production matters because Nigeria has been trying to raise output after years of disruptions, theft and underinvestment. Higher production can improve the company’s earnings even when international oil prices are under pressure.
NNPC said it is targeting crude production of 2 million barrels per day by 2027 and 3 million barrels per day by 2030.
Government Receives More From NNPC
The NNPC government remittances 2025 also increased significantly. Taxes, royalties and other payments to the Federal Government rose by 39 percent to ₦22.3 trillion. NNPC also declared a ₦5.8 trillion dividend, 35 percent higher than the previous year’s dividend.
These figures give the result a wider significance beyond NNPC itself. The company remains an important source of government revenue at a time when Nigeria is looking for more funds to finance infrastructure and public services.
What NNPC’s 2025 Results Could Mean
The bigger question is whether NNPC can maintain this level of profitability if oil prices remain weak. Its plans depend partly on sustaining higher production and attracting new investment across the oil and gas industry.
NNPC says it plans to mobilise $60 billion in upstream, midstream and downstream investments by 2030 while expanding both crude and gas production.
For now, the 2025 results show a state oil company that generated significantly more profit despite lower revenue, with higher production, cost discipline and stronger government remittances shaping the year’s performance.
