NNPCL Reports N10.6 Trillion Revenue Drop in 2025

The Nigerian National Petroleum Company Limited (NNPCL) announced a revenue decline of N10.6 trillion in 2025, generating N34.5 trillion compared to N45.1 trillion in 2024. Engr. Bashir Bayo Ojulari, the Group Chief Executive Officer, attributed this drop to decreased crude oil production and global prices.

However, NNPCL's profit after tax increased by 33% to N7.2 trillion from N5.4 trillion in 2024, due to operational efficiencies and expense reductions. The company paid N22.3 trillion in taxes, royalties, and remittances to the federal government, with an average production of 1.77 million barrels of crude oil per day and 7.2 billion standard cubic feet of gas per day.

Ojulari noted that the revenue drop was also influenced by market regulations and the removal of subsidies. He emphasized the importance of improving refinery profitability and mentioned ongoing rehabilitation efforts for the Port Harcourt and Warri refineries, with plans for the Kaduna refinery next year.

NNPCL is also preparing for a potential listing on the Nigerian Stock Exchange.