NNPCL Declares ₦7.2 Trillion Profit

The Nigerian National Petroleum Company Limited (NNPCL) recorded a profit after tax of ₦7.2 trillion in 2025, representing an increase of more than 30 per cent compared with the previous year.

The company’s Group Chief Executive Officer (GCEO), Bashir Bayo Ojulari, disclosed this on Tuesday during the presentation of NNPCL’s 2025 Audited Financial Statement.

Ojulari said the profit was made from ₦34.5 trillion in revenue generated by the company during the year.

Despite the rise in profit, NNPCL’s total revenue dropped by ₦10.6 trillion compared with the ₦45.1 trillion recorded in the previous year.

The NNPCL boss also disclosed that the company paid ₦22.3 trillion to the Federal Government in taxes, royalties and other remittances during the year.

He said the company also recorded an average crude oil production of 1.77 million barrels per day in 2025.

The national oil company produced an average of 7.2 billion standard cubic feet per day (mmscf/d) of gas during the period.

NNPCL had recorded a profit after tax of ₦5.76 trillion in 2024.

Meanwhile, the Allied Peoples Movement (APM) has described Edo State Governor, Monday Okpebholo‘s comparison of petrol prices in Nigeria and the United Kingdom as callous.

Naija News reports that, in a statement by its National Publicity Secretary, Abubakar Yusuf, the party condemned the rise in petrol prices to more than ₦1,500 per litre and criticised Okpebholo for using the UK price to justify fuel costs in Nigeria. BreakingNews Alerts

APM argued that the comparison overlooked the wide income disparity between Nigerian and British workers, noting that Nigeria’s ₦70,000 minimum wage could not be meaningfully compared with UK earnings.

The party also cited differences in the transport systems of both countries, saying Nigerians contend with an informal and expensive public transport system, unlike the structured and regulated system in the UK, which it said receives government subsidies.

While comparing Nigeria with other oil-producing countries, the APM said petrol was considerably cheaper in Libya and Iran, stressing that Okpebholo’s comparison was provocative and likely to deepen public anger over the rising cost of living.

The party subsequently urged Nigerians to support its presidential candidate, Oyo State Governor, Seyi Makinde, in the 2027 presidential election, adding that the interest and well-being of all Nigerians will be the top priority of government.