The Nigerian National Petroleum Company Limited (NNPC Limited) reported a profit after tax of N7.2 trillion for the 2025 financial year, representing a 33 per cent increase from the N5.4 trillion recorded in 2024.

The company, however, recorded a decline in revenue during the period, with turnover falling by 23.4 per cent from N45.075 trillion in 2024 to N34.516 trillion in 2025.

NNPC Limited also reported earnings per share of N35.9, while its taxes, royalties and other remittances to the Federal Government rose by 39 per cent to N22.3 trillion.

The company attributed the stronger profit performance despite the lower revenue to improved operational efficiency and tighter cost management.

Speaking on the results, NNPC Limited Group Chief Executive Officer, Bayo Ojulari, said the decline in revenue was largely linked to lower crude oil prices and reduced white-product volumes following market deregulation.

He said the company nevertheless recorded stronger operational performance during the year, with crude oil and condensate production reaching a five-year peak of 1.77 million barrels per day at its highest point in 2025.

Natural gas supply also increased to a three-year high of 7.2 billion standard cubic feet per day, according to the NNPC Limited chief executive.

For the full year, the company reported crude oil production of 565.8 million barrels. Of this volume, 278.2 million barrels were supplied to domestic refineries.

NNPC Limited also said gas supply to power plants and commercial customers stood at 473.3 billion standard cubic feet during the year.

The results show that while lower crude prices and reduced white-product volumes weighed on the company’s revenue, higher profitability was recorded alongside improvements in production, gas supply and operational efficiency.

The increase in government remittances also raised the company’s contribution to public revenue during the 2025 financial year.