NNPCL Posts ₦7.2tn Profit After Tax in 2025 Despite Revenue Decline

NNPCL Posts ₦7.2tn Profit After Tax in 2025 Despite Revenue Decline

By Tope Bankole

https://x.com/channelstv/status/2105239576922947617/video/1

The Nigerian National Petroleum Company Limited (NNPCL) has reported a profit after tax of ₦7.2 trillion for the 2025 financial year, representing an increase of more than 30 per cent compared with the previous year, despite a decline in total revenue.

The company disclosed this while presenting its audited financial statements, which showed that revenue stood at ₦34.5 trillion during the period under review.

NNPCL’s Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, also disclosed that the company paid ₦22.3 trillion in taxes and remittances to the government in 2025.

The reported performance reflects an increase in profitability amid lower revenue, while the company maintained average daily crude oil production of 1.77 million barrels.

The financial results indicate that the national oil company recorded stronger bottom-line earnings even as its overall revenue declined, although the figures provided did not specify the factors responsible for the contrasting performance.

The ₦22.3 trillion in taxes and remittances underscores the company's contribution to government revenue, while its reported crude oil output highlights its continued role in Nigeria's petroleum sector.

The 2025 audited financial statements provide an overview of the company's financial performance, government remittances and operational output during the year.