NNPCL Reports 27% Profit Increase Under Bayo Ojulari

The Nigerian National Petroleum Company Limited (NNPCL), led by Group CEO Bayo Ojulari, published its 2025 audited financials on September 29, 2026, reporting an after-tax profit of N7,200 billion or $4.7 billion, reflecting a 27% increase from the previous year's profit of N5,400 billion or $3.7 billion. This marks a significant improvement in financial performance under Ojulari, who was appointed in April 2025, compared to his predecessor Mele Kyari.

NNPCL's dividend payout to shareholders is equivalent to 80% of the bottom line. The company aims to be a globally competitive energy entity and has shown progress in transparency by publishing its financials, despite public skepticism regarding the performance of national oil companies.

The financial margins indicate that NNPCL achieved a margin of 20.8%, surpassing international peers such as ENI and Chevron, which reported margins of 6% and 6.5%, respectively.