The Nigerian National Petroleum Company Limited (NNPC) has announced a significant profit after tax of ₦502 billion in November 2025. This development is attributed to increased gas output, full pipeline availability, and other factors, according to the company’s monthly financial and operations report.
In November, the NNPC generated ₦4.36 trillion in revenue, reflecting a marginal increase compared to the previous month. The improved performance was driven by stronger gas output, steady domestic fuel supply, and sustained infrastructure availability. These factors helped offset challenges in crude oil production, which has been facing operational disruptions.
The report highlights that gas production remained relatively resilient, with output standing at 6,968 million standard cubic feet per day in November. This is slightly lower than the 6,997 million standard cubic feet per day recorded in October. Crude oil and condensate production, however, averaged 1.36 million barrels per day in November, recovering slightly from the 1.30 million barrels per day recorded in October.
Despite the decline in crude oil and condensate production, the NNPC sustained its profitability streak. The company’s gas sales, trading activities, and improved infrastructure uptime contributed to the increased revenue. Cumulatively, statutory payments to the Federation Account rose to ₦12.12 trillion between January and October 2025, underscoring the NNPC’s growing fiscal contribution to government revenues.
The NNPC attributed the subdued crude oil production performance to ongoing repairs on the Forcados export line, a force majeure at Egbema, and delays in achieving first oil from the West African Exploration Project. However, the company noted that partial recovery at some assets following earlier disruptions contributed to the increased production in November.
The NNPC’s financial performance is significant, given the current economic landscape. The company’s ability to sustain profitability despite operational challenges is a positive development for Nigeria’s oil and gas sector. As the country continues to navigate the complexities of the global energy market, the NNPC’s performance will be closely watched by industry stakeholders and analysts. The company’s future plans and strategies will be crucial in determining its long-term success and contribution to Nigeria’s economy.