Nigeria’s Oil Giant Records $4.2 billion in Profit as Output Nears 1.6 million Barrels Daily

Nigeria’s state-owned oil company, the Nigerian National Petroleum Company (NNPC), has reported an after-tax profit of $4.26 billion for 2025, underlining strong revenue performance despite production fluctuations and maintenance outages.

In figures released on Wednesday, the firm said total revenue for the year reached about $44.8 billion, with statutory payments to government agencies and partners totalling roughly $10.9 billion.

NNPC recorded average crude and condensate production of 1.62 million barrels per day over the period, reaffirming its position at the heart of Africa’s largest oil industry.

While the company did not provide comparative 2024 results, it acknowledged that December production averaged 1.54 million barrels per day. NNPC attributed the dip to scheduled maintenance and several unplanned outages. Revenue for the final month of the year was approximately $3.57 billion.

Natural gas supply also remained robust, with daily deliveries in December averaging more than 6.91 billion standard cubic feet. Downstream operations showed signs of improvement, with Nigerian Refining Limited stations achieving 65 per cent petrol availability, a notable increase compared with previous months.

Upstream infrastructure performance was solid, with pipeline systems reporting full availability. The company highlighted progress on key gas infrastructure projects, including the completion of mainline welding on the Ajaokuta-Kaduna-Kano pipeline and the advancement of pilot-hole drilling on the Obiafu-Obrikom gas pipeline.

NNPC noted that all reported figures are provisional pending final reconciliation with stakeholders.

Analysts and market participants will be watching the finalised data for indications of how the state energy firm plans to maintain growth amid shifting global oil dynamics.