Victor Ezeja
The Nigerian National Petroleum Company Limited (NNPCL) experienced a significant financial downturn in July 2025, with both revenue and profit after tax (PAT) declining sharply compared to the previous month.
Join our WhatsApp ChannelThe national oil company’s revenue dropped to N4.406 trillion, while profit after tax (PAT) dropped to N185 billion in July 2025.
This was revealed in the NNPCL’s monthly report released on Thursday.
When compared with the previous month, the state-owned firm’s revenue declined by ₦165 billion (about 3.59 per cent) from ₦4.571 trillion in June to ₦4.406 trillion in July 2025.
The company’s PAT saw a drastic drop of 79.6 per cent, falling from ₦905 billion in June to ₦185 billion in July.
The sharp drop in PAT was primarily attributed to increased cost of sales and income tax adjustments
Despite the financial decline, the report revealed slight improvements in operations.
Crude oil and condensate production increased marginally from 1.68 million barrels per day (bpd) in June to 1.70 million bpd in July.
Natural gas production rose from 7,581 million standard cubic feet per day (mmscf/d) to 7,722 mmscf/d.
Gas sales also increased, reaching 4,978 mmscf/d in July compared to 4,742 mmscf/d in June.
It stated that premium motor spirit availability in its outlets stood at 70 percent in July
The company emphasized efforts to sustain production, improve facility uptime, and enhance stakeholder collaboration.
According to the report, NNPCL has remitted N7.97 trillion to the Federation Account from January to July 2025.
NNPC said it has continued to advance key infrastructure projects, such as the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline (83 per cent complete) and the Obiafu-Obrikom-Oben (OB3) Gas Pipeline (96 per cent complete).
