NNPC Reports 24% Revenue Decline, ₦7.2trn Profit, 1,023 New Staff For 2025
The Nigerian National Petroleum Corporation (NNPC) Limited has announced audited results for the year ended 31st December 2025, following its Annual General Meeting and second Earnings Call with financial and business analysts.
Profit After Tax rose 33 percent to ₦7.2 trillion from ₦5.4 trillion in 2024, while revenue stood at ₦34.5 trillion.
Revenue declined 24 percent, principally reflecting lower crude oil prices and reduced white product volumes following market deregulation in 2024.
Stronger earnings despite this pressure demonstrate the resilience of NNPC Limited’s operations, according to a statement dated Tuesday 29th September 2026 by Andy Odeh, Chief Corporate Communications Officer of NNPC Ltd.
Key financial measures advanced: EBITDA rose 22 percent to ₦18.0 trillion; Earnings Per Share increased 32 percent to ₦35.9; operating cash flow grew 16 percent to ₦12.8 trillion; Return on Equity improved by 200 basis points to 16 percent; and the declared dividend increased 35 percent to ₦5.8 trillion.
OPERATIONAL HIGHLIGHTS
Crude oil and condensate production averaged 1.77 million barrels per day, its highest level in five years.
Natural gas output averaged 7.2 billion standard cubic feet per day, a three-year high.
Oil and condensate production totalled 565.8 million barrels, up 5 percent, with NNPC Limited’s equity share increasing 11 percent to 223.7 million barrels.
Natural gas production reached 2,606.2 billion standard cubic feet, up 9 percent, while its equity share rose 11 percent to 1,154.9 billion standard cubic feet.
Progress across the portfolio included completion of the AKK River Niger crossing and full completion of the 40-inch by 623-kilometre Ajaokuta-Kaduna-Kano mainline.
NNPC Limited commissioned the ANOH-OB3 Custody Transfer Metering Station and advanced the 300MMscfd ANOH Gas Processing Plant to start-up readiness.
It also acquired 500 CNG-powered trucks, and adopted a Technical Equity Partnership Model for its refinery reform.
TALENT-TO-VALUE TRANSFORMATION
NNPC Limited’s talent-to-value transformation is building the workforce needed to deliver its commercial priorities.
In 2025, the company employed 1,023 full-time employees including over 1,000 graduates who were recently deployed following a rigorous one-year internship and training programme.
Women now hold 23 percent of leadership positions, compared with an industry average of 17 percent.
Through its Talent- to-Value and Fit-for-Future strategy, the company is combining experience with emerging talent, expanding digital and international exposure, and strengthening the capabilities required for sustained growth.
“Our 2025 performance shows what disciplined execution and a capable workforce can deliver,” said Engr. Bashir Bayo Ojulari, Group Chief Executive Officer of NNPC Limited. “We are strengthening earnings, growing production and investing in the people and assets that will sustain value for our shareholders, communities and the Nigerian people.”
On sustainability, the company completed 6,028 cataract surgeries, planted 80,000 trees, developed its Net Zero 2050 strategy and maintained reporting under Oil and Gas Methane Partnership (OGMP), Oil and Gas Decarbonization Charter (OGDC), and United Nations Global Compact (UNGC) frameworks.
OUTLOOK
NNPC Limited enters the next phase of growth with clear production and investment ambitions.
It is targeting crude oil production of 2 million barrels per day by 2027 and 3 million barrels per day by 2030, alongside natural gas output of 12 billion standard cubic feet per day by 2030.
The company plans to mobilise $60 billion in upstream, midstream and downstream investments by 2030 and complete major gas infrastructure, including AKK, ELPS and OB3.
ABOUT NNPC LIMITED
NNPC Limited is Nigeria’s leading oil and gas company.
Established in 1977, it became a fully commercial, profit-driven company in July 2022 under the Petroleum Industry Act 2021.
Operating across exploration, production, refining and distribution, NNPC Limited works to create lasting value for its shareholders and strengthen energy security for Nigeria and Africa.
