BREAKING: NNPC Profit Falls Massively Despite Marginal Rise in Oil Output
The Nigerian National Petroleum Company Limited (NNPC Ltd) reported a significant drop in profit tax, falling from N905 billion in June to N185 billion in July 2025, despite a marginal rise in oil output. The state oil giant also disclosed a slip in total revenue from N1 trillion in July to N2 trillion in the previous month.
The Federal Government approved the Nigeria Debt Management Strategy amidst NNPC's steepest decline in recent months. The company's profit tax dropped from N905 billion in June to N926 billion in April, highlighting the challenging financial situation.
Despite these challenges, NNPC reported reaching major milestones in infrastructure projects, such as the AKK and OB3 gas pipeline projects. The company remains focused on sustaining crude oil and condensate output, enhancing facility uptime, and strengthening collaboration with stakeholders to drive operational efficiency.
Plus234Feed summary based on reporting from News Online Nigeria. Read the original report below.
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