NNPCL Reports ₦7.2 Trillion Profit Amid Revenue Decline

The NNPCL's 2025 annual financial report indicates a net profit increase of approximately 33% to ₦7.2 trillion, despite a 23% decline in revenue from ₦45.1 trillion in 2024 to ₦34.5 trillion in 2025. Gross profit also fell by a similar percentage to ₦9.4 trillion.

The profit growth is attributed to a ₦5 trillion rise in other income and a ₦1 trillion reduction in general and administrative expenses, raising concerns about the repeatability of this income in future periods. The corporation's balance sheet reveals a current ratio of about 0.85, with short-term assets of ₦28.1 trillion against short-term liabilities of ₦33.2 trillion.

Cash balance decreased from ₦10.3 trillion in 2024 to ₦6.4 trillion in 2025, despite an increase in cash generated from operations to ₦12.9 trillion. The report claims an average crude and condensate production of 1.77 million barrels per day, marking a five-year high.