-
NNPCL records ₦502bn profit after tax in November 2025 amid lower crude oil production.
-
Gas production, trading performance, and full pipeline availability boost revenue to ₦4.36tn.
-
Statutory remittances to Federation Account hit ₦12.12tn between January and October 2025.
The Nigerian National Petroleum Company Limited (NNPCL) recorded a profit after tax of ₦502 billion in November 2025, maintaining strong earnings despite challenges in crude oil production.
According to the company’s Monthly Financial and Operations Report released on Wednesday, total revenue for the month stood at ₦4.36 trillion, a marginal increase from October, driven largely by gas production, improved infrastructure avavailability and steady fuel supply nationwide.
ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!
Crude oil and condensate production averaged 1.36 million barrels per day in November, slightly higher than the 1.30 million barrels per day recorded in October.
However, output remained below the year’s peak of 1.77 million barrels per day earlier in 2025. The November figure marked the first recovery after three consecutive months of decline.
NNPCL attributed the profit performance to improved gas output, strong trading activities, and sustained pipeline uptime, despite disruptions at some crude-producing assets.
Gas production remained resilient at 6,968 million standard cubic feet per day, reinforcing the company’s strategy to deepen gas monetisation.
READ ALSO: House Committee Summons NNPCL Boss Over 2021 Audit Queries
The report also showed that statutory payments to the Federation Account reached ₦12.12 trillion between January and October 2025, underscoring NNPCL’s growing contribution to government revenues amid fiscal pressures.
Operational challenges affecting crude output were linked to repairs on the Forcados export line, force majeure at Egbema, and delays in some upstream projects. In contrast, upstream pipeline availability improved to 100 per cent in November, helping stabilise production and evacuation.
On the downstream front, petrol availability across NNPC Retail outlets stood at 61 per cent, easing earlier supply concerns.
Progress was also recorded on major gas infrastructure projects, including the Ajaokuta–Kaduna–Kano pipeline, which is on track for completion in 2026.
NNPCL expressed optimism that improved asset uptime, gas-led growth, and infrastructure delivery would strengthen earnings going into 2026, even as crude oil production continues to face operational and security risks.
