The Nigerian National Petroleum Company Limited (NNPC) posted strong financial results in October 2025, generating N5.07 trillion in revenue and N447 billion in profit after tax, even as crude oil and condensate production fell to its lowest level in 10 months.
According to NNPC’s latest monthly report, Nigeria produced 1.58 million barrels per day (mbpd) of crude and condensates in October, down from 1.61 mbpd in September. Production started the year at 1.67 mbpd in January and fluctuated due to maintenance, operational challenges, and crude theft.
NNPC noted ongoing recovery efforts across its joint venture and production sharing assets, with intensified collaboration across the industry to stabilize output.
Gas output increased to 6,997 million standard cubic feet per day (mmscf/d) in October, up from 6,284 mmscf/d in September, reflecting partial recovery in upstream gas fields. While still below the year’s peak of 7,722 mmscf/d in July, the improvement signals growing momentum in the sector.
Gas sales also rose sharply to 4,713 mmscf/d, boosted by higher offtake from power plants, industrial users, and exports.
Crude oil and condensate production showed a downward trend for much of 2025. After peaking at 1.69 mbpd in July, output gradually declined to 1.58 mbpd in October.
Despite lower production, NNPC achieved its highest crude sales for the year in October—26.71 million barrels, surpassing July’s 25.49 million barrels and more than doubling March’s 16.32 million barrels. Improved evacuation, shipping schedules, and backlog clearance supported this performance.
NNPC reported progress on key gas infrastructure: the OB3 Pipeline is 96% complete, and the Ajaokuta–Kaduna–Kano (AKK) Pipeline is 89% complete, both crucial for domestic gas transport, industrial supply, and power generation.
Upstream pipeline availability reached 100%, indicating reduced downtime and improved efficiency. The company continues planned maintenance across major assets and aims for full production recovery by mid-December.
From January to September 2025, NNPC remitted N11.15 trillion to the Federation Account, maintaining its role as Nigeria’s largest government revenue source. The report attributes the strong financial performance to stable sales, higher export receipts, and disciplined cost management.
Retail Operations and Public Impact
Fuel availability at NNPC retail stations stood at 50%, reflecting ongoing efforts to improve daily stock levels amid intermittent shortages. The NNPC Foundation also reached over one million corps members with its 2025 financial literacy program at the NYSC Kubwa orientation camp.
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