LAGOS, Feb 12 – Nigeria’s state owned oil company, the Nigerian National Petroleum Company, reported after tax profits of 5.760 trillion naira in 2025, equivalent to about 4.26 billion dollars, according to results released on Wednesday.
The performance was supported by average crude oil and condensate production of 1.62 million barrels per day over the year, reinforcing Nigeria’s standing as Africa’s largest oil producer.
Total revenue for the period reached 60.517 trillion naira, while statutory payments to government agencies and joint venture partners amounted to 14.706 trillion naira. The company did not provide comparative figures for the previous year.
Production moderated slightly in December due to scheduled maintenance activities and unplanned outages. Oil and condensate output averaged 1.54 million barrels per day during the month, generating revenue of 4.824 trillion naira.
Natural gas supply in December averaged more than 6.914 billion standard cubic feet per day, reflecting continued emphasis on gas development as part of Nigeria’s energy transition strategy.
Downstream performance improved, with Nigerian Refining Limited retail stations achieving 65 percent availability of Premium Motor Spirit in December, an increase from earlier periods. Upstream pipeline infrastructure reported full operational availability during the month.
NNPC also reported progress on strategic gas infrastructure projects. Mainline welding on the Ajaokuta Kaduna Kano pipeline was completed in December, while pilot hole drilling advanced on the Obiafu Obrikom gas pipeline.
The company noted that all figures remain provisional pending final reconciliation with relevant stakeholders.
