NNPC Reports N11.2 Trillion Receivables for 2025

The Nigerian National Petroleum Company Limited (NNPC) recorded N11.2 trillion in receivables from the Federation for 2025, reflecting costs and advances incurred on behalf of the government, particularly for securing oil and gas assets. This figure represents a 57% increase from the N7.13 trillion recognized in 2024.

The N11.2 trillion includes an energy security cost receivable of N8.67 trillion and other receivables related to advances and security costs. Notably, no energy security expense was recognized in 2025, contrasting with N7.13 trillion in 2024, following a reconciliation of outstanding receivables against royalties, taxes, and dividends due as of December 2024, completed in September 2025.

NNPC reported an average production of 1.77 million barrels per day in 2025, the highest in five years, with total production reaching 565.8 million barrels. Bayo Ojulari, NNPC Group Chief Executive Officer, attributed the production increase to enhanced pipeline availability and efforts to combat oil theft, although challenges remain with smaller pipelines.