NNPCL posts N7.2tn profit as revenue falls 24% to N34.5tn

The Nigerian National Petroleum Company Limited (NNPCL) has reported a profit of N7.2 trillion for the year 2025, despite a 24 percent drop in revenue to N34.5 trillion. This is according to the company's audited financial statements disclosed on Tuesday following its Annual General Meeting and earnings call with analysts. The reduction in revenue was primarily due to lower crude oil prices and a decrease in the volume of white products following market deregulation in 2024.

Despite the decline in revenue, NNPCL's profit after tax increased by 33 percent to N7.2 trillion from N5.4 trillion in 2024.

Other key financial highlights include an EBITDA rise of 22 percent to N18.0 trillion, a 32 percent increase in Earnings Per Share to N35.9, a 16 percent growth in operating cash flow to N12.8 trillion, a 200 basis point improvement in Return on Equity to 16 percent, and a 35 percent increase in the declared dividend to N5.8 trillion.

In terms of production, crude oil and condensate averaged 1.77 million barrels per day, reaching its highest level in five years. Natural gas output reached a three-year high of 7.2 billion standard cubic feet per day. The company's total oil and condensate production was 565.8 million barrels, marking a 5 percent increase, while natural gas production totaled 2,606.2 billion standard cubic feet, growing by 9 percent.