By Ayomide Otitoju
The Nigerian National Petroleum Company Limited (NNPC Ltd.) recorded a profit after tax of ₦502 billion in November 2025, driven by improved gas production, full pipeline availability, and strong trading performance.
Figures from the NNPC Monthly Financial and Operations Report for November 2025, released on Wednesday, showed that the national oil company generated ₦4.36 trillion in revenue during the month, representing a marginal increase from October’s performance.
According to the report, the improved financial outcome was supported by stronger gas output, sustained domestic fuel supply, and enhanced infrastructure uptime, which helped offset challenges in crude oil production.
“The ₦502 billion profit recorded in November was driven by improved gas production, strong trading performance, and sustained infrastructure availability, despite operational challenges in some crude-producing assets,” the report stated.
The November result marked a slight improvement on October’s performance, reinforcing the company’s earnings momentum in the second half of the year. Revenue stood at ₦4.358 trillion, largely supported by gas sales, trading activities, and improved operational efficiency.
The report indicated that NNPC sustained its profitability despite a decline in crude oil and condensate production during the month. Gas production remained relatively stable, averaging 6,968 million standard cubic feet per day (mmscf/d) in November, compared with 6,997mmscf/d in October, highlighting the sector’s stabilising role amid crude-related disruptions.
Crude oil and condensate production averaged 1.36 million barrels per day (mbpd) in November, up slightly from 1.30mbpd in October, but below the year’s peak of 1.77mbpd recorded earlier in 2025. The November output marked the first rebound after three consecutive months of decline between August and October.
Cumulatively, statutory payments to the Federation Account rose to ₦12.12 trillion between January and October 2025, underscoring NNPC’s increasing fiscal contribution at a time of mounting pressure on public finances.
The report attributed the subdued crude oil performance to ongoing repairs on the Forcados export line (OML 30), a force majeure at Egbema (OML 61), and delays in achieving first oil from the West African Exploration Project.
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