The Digest:
The Nigerian National Petroleum Company (NNPC) Limited has reported a profit after tax of N5.76 trillion for the 2025 fiscal year, according to its December 2025 Monthly Report Summary. The national oil company recorded total revenue of N60.51 trillion and made statutory payments of N14.7 trillion to government agencies and partners. Average crude and condensate output stood at 1.54 million barrels per day in December 2025, a 3.75 percent decline from November due to planned and unplanned maintenance outages. The company posted a December PAT of N351 billion, down 30.08 percent from the previous month. NNPC also provided updates on the AKK and OB3 gas pipeline projects, noting completion of mainline welding works on AKK and commencement of pilot hole drilling on OB3.
Key Points:
- The record profit strengthens NNPC's financial position and potential dividend payments to shareholders.
- It demonstrates improved commercial viability following the transition to a limited liability company.
- The federation and shareholders stand to benefit, while questions may arise about subsidy implications.
- This signals NNPC's growing capacity to operate profitably without direct government appropriations.
- The timing, ahead of 2026 budgeting, positions NNPC as a significant revenue contributor.
Sources: TheCable, NNPC Monthly Report Summary
