NNPC posts N7.2trn profit, declares N5.8trn dividend as oil production hits 5-year high

The Nigerian National Petroleum Company (NNPC) Limited has announced a 33 per cent increase in profit after tax to N7.2 trillion for the year ended December 31, 2025.

The NNPC Limited also declared a N5.8 trillion dividend to shareholders as crude oil production climbed to its highest level in five years.

The national oil company disclosed the audited financial results released on Tuesday, September 29, 2026, following its Annual General Meeting and second Earnings Call with financial and business analysts.

The company disclosed that it generated N34.5 trillion in revenue during the period, saying although the revenue declined by 24 per cent due to lower global crude oil prices and reduced white product volumes following the deregulation of the downstream market.

It, however, said the stronger earnings reflected improved operational efficiency and business resilience.

The NNPC said other key financial indicators also recorded growth, noting that earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 22 per cent to N18 trillion, while operating cash flow increased by 16 per cent to N12.8 trillion.

The NNPC added that earnings per share climbed 32 per cent to N35.9, while return on equity improved to 16 per cent.

The company stated: “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%, with NNPC Limited’s equity share increasing 11% to 223.7 million barrels. Natural gas production reached 2,606.2 billion standard cubic feet, up 9%, while its equity share rose 11% to 1,154.9 billion standard cubic feet.”

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The company also highlighted progress on major infrastructure projects, including the completion of the Ajaokuta-Kaduna-Kano (AKK) gas pipeline mainline, the River Niger crossing, commissioning of the ANOH-OB3 Custody Transfer Metering Station, and the advancement of the ANOH Gas Processing Plant to start-up readiness.

It added that it acquired 500 compressed natural gas-powered trucks and adopted a new Technical Equity Partnership Model to accelerate refinery reforms.

The NNPC also said it strengthened its workforce by recruiting 1,023 full-time employees, including over 1,000 graduates who completed a one-year internship programme, while women now occupy 23 per cent of leadership positions within the organisation.

Speaking on the results, the Group Chief Executive Officer of NNPC Limited, Bashir Ojulari, said the company’s 2025 performance reflected disciplined execution, improved production and sustained investment in both its workforce and critical assets.

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.”

Looking ahead, the NNPC said it aims to increase crude oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030, while targeting 12 billion standard cubic feet of gas per day by the end of the decade.

The company also announced plans to attract $60 billion in investments across the upstream, midstream and downstream sectors by 2030 as part of its long-term growth strategy.