NNPC Group’s tax, royalty payments rise 150% to N14.7 trillion in 2025

The NNPC Group's tax and royalty payments to the Nigerian government surged by 150% in 2025, reaching N14.71 trillion compared to N5.88 trillion in 2024, according to the company's audited financial statements released on Wednesday. The significant increase was primarily driven by royalties, which rose to N11.56 trillion from N2.83 trillion during the same period.

Income tax payments also increased, reaching N3.15 trillion from N3.06 trillion. Despite a 24% decline in revenue, the company reported a 33% rise in profit after tax, reaching N7.2 trillion in 2025 from N5.4 trillion in 2024. Royalties accounted for the largest share of the NNPC Group's payments to the government in 2025, increasing more than four times compared to the previous year.

The audited accounts also revealed higher spending on oil and gas properties, with NNPC Group investing N5.37 trillion in 2025, up from N2.26 trillion in 2024. The company-level figures showed a notable decline in acquisitions of intangible assets, falling to N78.97 billion from N692.71 billion, and a decrease in investments in joint ventures and associates to N2.39 billion from N6.99 billion.

The Nigeria Revenue Service officially took over the collection of mineral royalties from mining operators across the country in April following the implementation of the Nigeria Tax Laws 2025.