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Nigeria’s national oil company, the Nigerian National Petroleum Company Limited (NNPC Ltd), has announced record revenue of N60.517 trillion for 2025, up from N45.1 trillion in 2024.
The company’s impressive performance also includes a Profit After Tax (PAT) of N5.760 trillion and a remittance of N14.706 trillion to the Federation, according to the December 2025 Monthly Report Summary (MRS) released on Thursday.
NNPC’s revenue growth was steady throughout the year, with notable monthly fluctuations. For instance, January recorded N3.824 trillion, while February reached N6.024 trillion. In other months, such as May and October, strong performance was also recorded, with N6.008 trillion and N5.078 trillion, respectively. However, revenue dipped slightly in July and September, falling to N4.406 trillion and N4.269 trillion, respectively.
The surge in revenue is attributed to several factors, including a marked improvement in upstream pipeline availability. The NNPC reported an impressive 100% upstream pipeline availability in the last quarter of 2025, signalling fewer disruptions in evacuation and lifting operations. This achievement helped reduce deferred production and enhance scheduling certainty, contributing to higher production levels.
Crude oil and condensate production peaked at 1.77 million barrels per day (bpd) in 2025, with monthly production figures demonstrating a steady rise in the latter part of the year. In particular, production reached 1.68 million bpd in June and July before dipping slightly to 1.54 million bpd in December. Natural gas production remained relatively stable, with a peak of 7,120 million standard cubic feet per day (mmscfd) in both May and June.
The report also highlights that the NNPC’s statutory payments to the Federation varied monthly, with a notable N3.099 trillion remitted in February. These payments, which included taxes, royalties, and dividends, were a crucial part of the company’s contribution to the Federation, totalling N14.706 trillion by year-end.
On the infrastructure front, the company’s progress on major projects, including the Obiafu-Obrikom-Oben (OB3) pipeline (96% complete) and the Ajaokuta-Kaduna-Kano (AKK) pipeline (91%), reflects its commitment to expanding the nation’s energy capacity. Despite these successes, the NNPC noted that production in December was slightly affected by planned maintenance at key assets, including Sapele, Ogharefe, and Gbaran-Ubie.
NNPC Retail Limited (NRL), which manages the company’s retail stations, also saw steady improvements in station availability, rising from 30% in January to 65% in December. This indicates a significant increase in NNPC’s retail presence and service delivery, contributing to its overall operational efficiency.
