Lower oil output drags NNPC’s December profit by 30%

….as company’s full year 2025 revenue hit N60.51trn

The Nigerian National Petroleum Company (NNPC) Limited faced a challenging end to the fiscal year as a sharp decline in crude oil production took a heavy toll on its bottom line, leading to a 30 percent drop in profits for December.

BusinessDay’s analysis of the company’s monthly report for December 2025 showed that the company’s profit after tax dropped to N351 billion from N502 billion recorded in November 2025. Crude oil and condensate production also dropped from 1.60 mmbpd in November to 1.54 mmbpd in December. The production level in December also represents the least volume recorded in the year.

The company also recorded a dip in its gas production for December at 6.914 mmscf/d from 6.968 mmscf/d in November 2025.

Read also: Ojulari, NNPCL boss, links refinery shutdown to foreign exchange stability

“December production performance was affected by planned maintenance work at Stardeep-Agbami, Renaissance-Estuary Area (EA) and unplanned production facility outages,” the company stated.

The company also posted a staggering N60.51 trillion in revenue and a N5.76 trillion profit after tax for the 2025 financial year.

Statutory payments made by the company to the federation account stood at N14.70 trillion in 2025.

Read also: Ojulari concedes NNPC can’t run refineries profitably

On the N2.8 billion Ajaokuta–Kaduna–Kano Natural Gas pipeline, the company said that project was at 99percent completion stage. “Successfully completed the ma the mainline welding works as scheduled, and efforts are being intensified to complete the IPS and BVS”.

Also, it stated that the Obiafu-Obrikom-Oben (OB3) Gas Pipeline project is 96 percent completed. “OB3 River Niger Crossing: successfully completed all early works and commenced Pilot Hole drilling. Project on course to be completed as schedule.”

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