NNPC revenue hits N5.07tn with N447bn profit after tax in October 2025 despite lowest crude output of the year

The NNPC revenue surged in October 2025, with the Nigerian National Petroleum Company Limited posting N5.07tn in revenue and N447bn profit after tax, despite crude oil and condensate production sliding to its lowest point in 10 months.

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According to NNPC’s monthly performance report released on Saturday, the country pumped 1.58 million barrels per day (mbpd) of crude and condensates in October, down from 1.61mbpd in September.

Production fluctuations throughout 2025 have been linked to asset downtime, maintenance activities, and crude theft.

Gas production provided a brighter note, climbing to 6,997 million standard cubic feet per day (mmscf/d) from September’s 6,284mmscf/d. While still below the year’s peaks of 7,300–7,700mmscf/d, the improvement reflects ongoing recovery efforts across upstream gas fields.

Crude and condensate sales volume also hit a yearly high of 26.71 million barrels in October, surpassing July’s 25.49 million barrels and March’s 16.32 million barrels.

NNPC attributed the growth to improved evacuation efficiency, shipping schedules, and clearance of previous backlogs.

The report highlighted progress on strategic gas infrastructure projects, with the Obiafu-Obrikom-Oben (OB3) Pipeline 96 per cent complete and the Ajaokuta–Kaduna–Kano (AKK) Pipeline at 89 per cent. Both projects are crucial for domestic gas transportation, power generation, and industrial development.

NNPC also reported 100 per cent upstream pipeline availability, signalling reduced downtime and stronger operational efficiency.

The company is continuing maintenance across key assets, including Stardeep–Agbami, Esso–Erha, Renaissance–EA, and OML 42, with full production recovery planned by mid-December.

Between January and September 2025, NNPC remitted N11.15tn in statutory payments to the Federation Account, maintaining its status as the country’s largest revenue source. Stable sales, higher export receipts, and disciplined cost management underpinned the company’s strong financial performance.

In retail operations, petrol (PMS) availability at NNPC stations stood at 50 per cent, following interventions to address intermittent fuel queues in urban centres.

Meanwhile, the NNPC Foundation’s 2025 financial literacy programme has reached over one million NYSC corps members at the Kubwa orientation camp.

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Despite production challenges, the report demonstrates NNPC’s resilience in revenue generation and operational management, highlighting a path toward stabilising Nigeria’s oil and gas sector while supporting national economic growth.