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

The Nigerian National Petroleum Company Limited (NNPC) reported a 33% increase in profit after tax to N7.2tn in 2025, despite a decline in revenue due to lower crude oil prices and reduced product volumes. Group Chief Executive Officer Bayo Ojulari disclosed this during a media interaction in Abuja, highlighting that the company's profit grew from N5.4tn in 2024 to N7.2tn in 2025, while taxes, royalties, and other remittances to the government increased by 39% to N22.3tn.

Ojulari attributed the improved profitability to operational enhancements and financial discipline, noting that the gains would strengthen NNPC's capacity to invest, contribute to government revenue, and support Nigeria's energy security.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.