NNPC Announces N60.5tn Revenue, N14.7tn Federation Remittance, N5.76 Trillion Profit

• Posts 100% upstream availability for 3 consecutive months

•Declares 1.77m bpd peak oil production

Emmanuel Addeh in Abuja and Peter Uzoho in Lagos

The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced that it recorded a total revenue of N60.517 trillion in 2025, remitted N14.706 trillion to the Federation and posted a Profit After Tax (PAT) of N5.760 trillion.

These figures were indicated in the NNPC’s December 2025 Monthly Report Summary (MRS), which was released yesterday by the national oil company.

In comparison, THISDAY’s checks showed that the total revenue generated by the NNPC in 2024 was N45.1 trillion; PAT was N5.4 trillion, while remittances in taxes, royalties as well as dividends were N15.982 trillion.

Besides, the report  highlighted trends in crude oil and condensate production, gas output, sales volumes, asset availability and retail performance, reporting 100 per cent upstream pipeline availability in the last three months of 2025.

The steady improvement in upstream pipeline availability, culminating in 100 per cent uptime in the final quarter, indicated fewer disruptions to evacuation and lifting operations. This level of asset reliability typically reduced deferred production and improved scheduling certainty.

Still on the revenue side of its operations, a breakdown showed that NNPC generated N3.824 trillion in January; N6.024 trillion in February and N5.475 trillion in March. April recorded N5.891 trillion; May stood at N6.008 trillion; June followed with N5.105 trillion, while revenue moderated to N4.406 trillion in July.

Total revenue was N4.655 trillion in August; N4.269 trillion in September; October recorded N5.078 trillion; November N4.358 trillion and December N4.824 trillion. Cumulatively, revenue from January to December amounted to N60.517 trillion, the summary showed.

In the same vein, profit after tax reflected monthly variations, as January recorded a loss of N161 billion; February rebounded strongly with N987 billion; March saw a loss of N7 billion; April recorded N748 billion, while May reached the year’s highest monthly profit of N1.054 trillion.

A THISDAY analysis further showed that June’s revenue was N904 billion; July declined to N180 billion; was N539 billion in August; September stood at N216 billion; October was at N447 billion; November was N502 billion and December stood at N351 billion, to hit N5.760 trillion.

A breakdown of the figures indicated that statutory payments to the Federation fluctuated monthly, with January remittance at N821 billion; February recorded N3.099 trillion; March followed with N1.085 trillion; April N1.213 trillion and May N1.094 trillion.

Furthermore, June recorded N850 billion; July remittance stood at N1.130 trillion; August was at N979 billion and September was at N1.286 trillion. October saw N1.089 trillion; November N790 billion and December N1.270 trillion, to reach N14.706 trillion for the year under consideration.

On crude and condensate production, the data revealed that it reached a peak of 1.77 million bpd in 2025, with monthly production figures showing that output started at 1.67 million bpd in January; declined to 1.62 million bpd in February; 1.56 million bpd in March; 1.61 million bpd in April and rose further to 1.63 million bpd in May.

June recorded 1.68 million bpd, followed by 1.69 million bpd in July; moderated to 1.64 million bpd in August and 1.61 million bpd in September before dipping to 1.58 million bpd in October. November saw a slight recovery to 1.60 million bpd, while December closed at 1.54 million bpd.

But natural gas production maintained relative stability throughout the year, with output generally standing at 6,615 million standard cubic feet per day (mmscfd) in January and increasing to 6,616 mmscfd in February. March recorded 6,928 mmscfd; it was 7,120 mmscfd in April; 6,928 mmscfd in May and 7,120 mmscfd in June. July peaked at 7,120 mmscfd before output dropped to 6,949 mmscfd in August and 6,284 mmscfd in September. Gas production recovered to 6,997 mmscfd in October, 6,968 mmscfd in November and 6,914 mmscfd in December.

In addition, according to the NNPC, upstream pipeline availability improved significantly over the course of the year, with availability being 86 per cent in January; 74 per cent in February; 90 per cent in March; April was 95 per cent and May 98 per cent. June reached 97 per cent and July recorded 100 per cent. August maintained 96 per cent and September returned to 100 per cent. October, November and December each recorded 100 per cent availability.

On (commercial) gas sales, NNPC’s January sales stood at 4,223 mmscfd. February recorded 3,545 mmscfd. March rose to 4,240 mmscfd and April to 4,185 mmscfd. May recorded 4,698 mmscfd, June 4,742 mmscfd and July peaked at 4,978 mmscfd. August saw 4,201 mmscfd, September 3,443 mmscfd and October 4,713 mmscfd. November recorded 4,650 mmscfd, while December closed at 4,754 mmscfd.

Crude oil and condensate sales volumes also tracked production levels, with January recording combined sales of 23.1 million barrels of crude and 2.9 million barrels of condensate. February stood at 25.3 million barrels of crude and 2.0 million barrels of condensate. March recorded 16.3 million barrels of crude and 2.3 million barrels of condensate. April saw 21.2 million barrels of crude and 2.8 million barrels of condensate. May recorded 24.8 million barrels of crude and 2.5 million barrels of condensate.

June stood at 21.7 million barrels of crude and 2.6 million barrels of condensate. July recorded 25.5 million barrels of crude and 1.9 million barrels of condensate. August posted 22.4 million barrels of crude and 2.4 million barrels of condensate. September recorded 17.8 million barrels of crude and 1.7 million barrels of condensate. October saw 26.7 million barrels of crude and 2.3 million barrels of condensate. November recorded 20.0 million barrels of crude and 2.0 million barrels of condensate, while December closed at 22.8 million barrels of crude and 1.9 million barrels of condensate.

Also, NNPC Retail Limited (NRL) station availability improved from 30 per cent in January to 40 per cent in February and 45 per cent in March. April recorded 54 per cent, May 62 per cent and June 71 per cent. July stood at 70 per cent, August at 76 per cent and September at 77 per cent. October dropped to 50 per cent before rising to 61 per cent in November and 65 per cent in December.

As for ongoing infrastructure, it stated that the Obiafu-Obrikom-Oben (OB3) pipeline has now hit 96 per cent completion and Ajaokuta-Kaduna-Kano (AKK) pipeline has reached 91 per cent completion rate. The report also noted that December production performance was affected by planned maintenance at Sapele, Ogharefe and Gbaran-Ubie assets.