NNPC profit rises to N7.2 trillion in 2025 despite revenue decline
NNPC Limited's 2025 results show profit growth despite falling revenue; separately, Premium Times' own report contains an internal inconsistency between its headline and text on the size of the profit increase.
What happened
NNPC Limited reported profit after tax of N7.2 trillion for 2025, up from N5.4 trillion in 2024, as revenue fell to N34.5 trillion.4
Separately, the company's pre-tax profit, a different measure from the after-tax figure above, rose 18.3% to N11.31 trillion, according to its 2025 annual report.2
NNPC remitted N22.3 trillion to the government and supplied 278.2 million barrels of crude to domestic refineries during the year.4
Separately, NNPC booked N11.2 trillion in receivables from the Federation for costs incurred on its behalf in 2025, which BusinessDay described as exceeding the petrol subsidy bill, though no comparative subsidy figures were provided.3
Premium Times reported crude oil and condensate production reached a five-year high of 1.77 million barrels per day in 2025.5
Key points
Where accounts differ
Each account is attributed to who makes it. We do not judge between them.
Internal inconsistency in Premium Times' reporting of NNPC's profit increase
What the coverage leaves out
- None of the outlets reviewed reported detailed reasons for the decline in NNPC's overall revenue in 2025.
- None of the outlets reviewed reported how the N11.2 trillion in receivables from the Federation compares with prior years' figures.
- None of the outlets reviewed reported government or regulatory reaction to NNPC's 2025 results.
- No source provided a comparative figure for the petrol subsidy bill, so BusinessDay's characterization of the receivables as exceeding it cannot be independently verified from the supplied sources.
Sources (5)
Every outlet we drew on, grouped by where it is based. Read the originals for the full reporting.
Africa
- 1PunchNGPrivate
- 2NairametricsNGPrivate
- 3BusinessDayNGPrivate
NNPC incurs N11.2 trillion cost on behalf of FG, eclipsing petrol subsidy bill
- 4VanguardNGPrivate
- 5Premium TimesNGIndependent