NNPC reports 79.56% drop in profit after tax to N185 billion in July 2025

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The Nigerian National Petroleum Company (NNPC) has released its Monthly Report Summary for July 2025, revealing a significant decline in profit after tax. According to the report, the company’s profit after tax dropped by 79.56% to N185 billion, down from N905 billion recorded in June. The NNPC attributed the decline to the cost of sales and income tax adjustments.

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Despite the drop in profit, the company reported a revenue of N4.406 trillion in July, representing a 3.59% decrease from N4.57 trillion. The NNPC stated that the revenue figure represents the aggregate of groupwide revenues, including intercompany transactions.

The company’s crude oil and condensate production averaged 1.7 million barrels per day (bpd) in July, while natural gas output was 7.72 million standard cubic feet daily (mscfd). The NNPC highlighted its efforts to sustain crude oil and condensate production, improve the uptime of production facilities, and enhance operational efficiency.

On its strategic initiatives, the NNPC said, “Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline: Additional subcontractors deployed to expedite completion of mainline works and fast track project completion.” The company has also commenced the implementation of a revised execution strategy to expedite the completion of the Obiafu-Obrikom-Oben (OB3) River Niger crossing.

The NNPC noted that a 113km portion of the OB3 Gas Pipeline has been commissioned and is flowing about 300mmscf/d of gas from two gas producers. Additionally, the NNPC Foundation coordinated the donation of 35 compressed natural gas (CNG) buses to the presidential initiative on CNG (Pi-CNG), in conjunction with the offices of executive vice-presidents, downstream and business services

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