66th Independence: NNPC board chairman Kida speaks on financial year high profits, remittance

The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a Profit After Tax (PAT) of N7.2 trillion in the 2025 financial year, representing a N1.8 trillion increase from the N5.4 trillion recorded in the preceding year.

Chairman of the NNPC Ltd Board, Engr. Ahmadu Musa Kida, disclosed this in his Independence Day message to Nigerians, describing the 2025 financial year as a turning point in the history of the national oil company. Blueprint reports

Kida said the company also recorded revenue of N34.5 trillion during the year, while its remittances to the Federal Government rose to N22.3 trillion, representing a N6.3 trillion increase over the N16 trillion remitted in the previous year.

He said the remittances, which included taxes, royalties and other statutory payments, contributed to the funding of critical national infrastructure and social programmes.

The NNPC board chairman attributed the performance to the collective efforts of the board, management and staff, under the leadership of the Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, across the company’s upstream, downstream, gas, power and new energy portfolios.

He said NNPC Ltd had moved beyond its traditional role as an oil company to become an important contributor to Nigeria’s fiscal stability.

Crude production hits five-year high

Kida also highlighted improvements in the company’s operational performance, saying crude oil production peaked at 1.77 million barrels per day, representing a five-year high.

He said natural gas supply also reached 7.2 billion standard cubic feet per day, a three-year high which, according to him, strengthened Nigeria’s capacity to meet domestic gas obligations while expanding its potential as a global gas supplier.

The chairman said pipeline availability along major export routes had also improved substantially, with reconciliation factors of approximately 90 per cent now being recorded between crude produced and volumes delivered at terminals.

He attributed the improvement to community-based surveillance, strategic interventions and coordinated security operations.

NNPC sustains crude supply to refineries

On domestic refining, Kida said NNPC Ltd had sustained crude oil supply to local refineries through a dual-currency arrangement designed to balance national interests with commercial considerations.

He said the initiative was helping to strengthen domestic fuel supply and reduce Nigeria’s historical dependence on imported refined petroleum products.

According to him, ensuring that Nigerian crude is processed by Nigerian refineries would help retain more value within the country while creating jobs and supporting economic activity.

Kida calls for renewed commitment to Nigeria

Reflecting on the country’s 66th Independence Anniversary, Kida said the occasion provided an opportunity for Nigerians to reflect on the nation’s journey and its aspirations for self-determination, prosperity and development.

He said NNPC Ltd remained committed to contributing to the realisation of those aspirations through increased energy production, gas supply, revenue generation and support for domestic refining.

“At NNPC Limited, we are working daily to fulfil that promise. Every barrel of crude produced, every cubic foot of gas supplied, every naira remitted to government coffers, and every Nigerian employed in our operations represents a step towards the energy-secure, prosperous nation our founding fathers envisioned,” he said.

Kida congratulated Nigerians at home and in the diaspora on the Independence Anniversary and commended the management and staff of NNPC Ltd for their dedication.

He reaffirmed the Board’s commitment to steering the company towards greater performance and ensuring that it continues to contribute to Nigeria’s economic development.

“Happy Independence Day. God bless the Federal Republic of Nigeria,” he said.