NNPC Limited has reported a profit after tax of N7.2 trillion in 2025. The figure is about 33.3 per cent increase from N5.4 trillion recorded in 2024, despite lower revenue caused by declining oil prices and reduced petroleum product sales.
This was disclosed by NNPC’s Group Chief Executive Officer, Bayo Ojulari, on Tuesday while addressing journalists at the NNPC towers in Abuja.
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He explained that the state-owned national oil company also recorded revenue of N34.5 trillion and earnings per share of N359 in the 2025 financial year, while its taxes, royalties and other remittances to the government rose by 39 per cent to N22.33 trillion.
“The headline result is clear: profit after tax grew by 39 per cent, from ₦5.4trillion in 2024 to ₦7.2 trillion in 2025,” he said.
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Mr Ojulari attributed the profit growth to improved operational efficiency and financial discipline across its businesses.
This, he said, l helped cushion the impact of lower oil prices and reduced product sales following the deregulation of the petroleum market during the year under review.
“Our ambition depends as much on people as it does on oil wells and pipelines,” the NNPC boss noted.
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Mr Ojulari announced that the company’s audited 2025 financial results has been released, and that the performance reflected sustained efforts to improve operations, strengthen asset management and increase production.
The official noted that operationally, crude oil and condensate production reached a five-year peak of 1.77 million barrels per day, while domestic gas supply rose to a three-year high of 7.2 billion standard cubic feet per day.
“These results did not happen by chance. They were delivered by our workforce, which remains our most important asset,” he said.
The company said the improved performance had strengthened its capacity to invest in its operations, contribute to government revenue and support Nigeria’s energy security.
It, however, acknowledged that the strong financial results had raised expectations for improved performance in subsequent years, requiring further investment in infrastructure, workforce development and operational capabilities.
The management said its growth strategy would focus on increasing production, expanding gas monetisation and strengthening its downstream businesses, while investing in the people and assets needed to sustain long-term value for shareholders and Nigerians.
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As part of the strategy, NNPC said its Talent to Value programme was designed to strengthen workforce capacity by combining experienced personnel with new talent, while expanding investments in digital capabilities, artificial intelligence and international best practices.
Mr Ojulari disclosed that more than 1,000 newly recruited professionals joined the company in 2025 and completed a rigorous one-year internship and training programme before being deployed across its operations.
The company also highlighted progress in gender representation, saying women now occupy more than 23 per cent of its leadership positions, compared with an industry average of 17 per cent.
It said continued investment in workforce skills, operational efficiency and reliable infrastructure would be critical to sustaining production growth, improving financial performance and meeting its long-term business objectives.
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