NNPC’s profit rises 33% to N7.2tn, remits N22.3tn to government

The Nigerian National Petroleum Company Limited (NNPC) recorded a 33% increase in profit after tax to N7.2tn in 2025, despite a decline in revenue due to falling crude oil prices and reduced product volumes. Group Chief Executive Officer Bayo Ojulari disclosed these figures during a media interaction, noting that the company's improved profitability came from operational enhancements and financial discipline.

The remittances to the government, which include taxes, royalties, and other payments, rose by 39% to N22.3tn. Ojulari highlighted that crude oil and condensate output reached a five-year high of 1.77 million barrels per day, while Nigerian gas supply also hit a three-year peak of 7.2 billion standard cubic feet per day.

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