The Nigeria National Petroleum Company Limited (NNPC Limited), on Tuesday, following its Annual General Meeting and second Earnings Call with financial and business analysts, announced its audited results for the year ended December 31, 2025.
The results underlined the company’s growing earnings capacity and operational momentum, providing a stronger platform for growth.
According to a statement signed by the Chief Corporate Communications Officer (CCCO), Andy Odeh, Profit After Tax (PAT) rose 33% to ?7.2 trillion from ?5.4 trillion in 2024, while revenue stood at ?34.5 trillion.
Revenue declined by 24%, 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.
Key financial measures, however, advanced, as EBITDA rose 22% to ?18.0 trillion; Earnings Per Share increased 32% to ?35.9; operating cash flow grew 16% to ?12.8 trillion; Return on Equity improved by 200 basis points to 16%; and the declared dividend increased by 35% to ?5.8 trillion.
In operational highlights, crude oil and condensate production averaged 1.77 million barrels per day, its highest level in five years, while 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%, with NNPC Limited’s equity share increasing by 11% to 223.7 million barrels. Natural gas production reached 2,606.2 billion standard cubic feet, up 9%, while its equity share rose by 11% to 1,154.9 billion standard cubic feet.
Progress across the portfolio included the 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.
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 also revealed plans to mobilise $60 billion in upstream, midstream and downstream investments by 2030 and complete major gas infrastructure, including AKK, ELPS and OB3.
Group Chief Executive Officer (GCEO), NNPC Limited, Engineer Bashir Bayo Ojulari, said, ‘Our 2025 performance shows what disciplined execution and a capable workforce can deliver.
‘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 the Oil and Gas Methane Partnership (OGMP), Oil and Gas Decarbonization Charter (OGDC) and United Nations Global Compact (UNGC) frameworks.