The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a substantial rise in its revenue profile, posting N5.08 trillion in October 2025. This represents a significant increase from the N4.27 trillion recorded in September, reinforcing the company’s strengthened operational performance and the positive momentum within Nigeria’s energy sector.
The figures were disclosed in the company’s Monthly Report Summary for October, which also revealed that profit after tax (PAT) more than doubled month-on-month. NNPC Ltd recorded N447 billion in PAT for October, compared to N216 billion in September—an outcome the company attributes to improved market conditions, enhanced cost-optimisation strategies, and a more stable operating environment.
According to the report, the rise in profitability underscores both internal efficiency measures and renewed confidence in Nigeria’s petroleum and gas value chains. It further highlights the national oil company’s accelerated investment in infrastructure and its ongoing push toward strengthening domestic energy security.
A major driver of the improved financial performance was increased natural gas production. NNPC Ltd reported total gas output of 6,997 million standard cubic feet per day (mmscf/d) in October, a notable increase from 6,284 mmscf/d in September. Gas sales—tracked on an M-2 basis—also climbed significantly, rising to 4,713 mmscf/d from 3,443 mmscf/d the month before. The company explained that the improvements reflect ongoing efforts to expand Nigeria’s gas value chain, enhance supply reliability to power generators and industrial users, and boost gas availability for export.
In contrast, crude oil production experienced a slight decline. Output fell to 1.58 million barrels of oil per day (mmbopd) in October from 1.61 mmbopd in September. The report attributes the temporary dip to planned maintenance activities, delays in restarting certain assets, and disruptions caused by flooding in some operational fields. The company, however, emphasised that it expects full production recovery by mid-December.
NNPC Ltd also provided updates on major strategic projects, particularly the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, one of the Federal Government’s flagship gas infrastructure investments. According to the report, additional manpower and resources have been deployed to expedite work across multiple construction corridors. The company expressed confidence that the mainline segment of the AKK pipeline will be completed before the end of 2025, paving the way for expanded domestic gas utilisation and new industrial growth opportunities across northern Nigeria.
In further detail, NNPC Ltd highlighted plans to execute all scheduled maintenance operations across key offshore and onshore assets, including Stardeep–Agbami, Esso–Erha, Renaissance–EA, and OML 42, within the November–December project window. Production volumes were said to be temporarily affected by maintenance activities at Usan and SEPNU, delays at WAEP (OML 71 & 72), and flooding-related shut-ins at OML 143.
The October performance builds on NNPC Ltd’s strong full-year 2024 results, where the company reported N5.4 trillion in profit after tax from total revenue of N45.1 trillion. NNPC Ltd reiterated that it is accelerating investment across upstream fields, gas infrastructure, and clean energy solutions to sustain long-term growth. Earlier in the month, the company announced a target of attracting $60 billion in investments by 2030, supported by strategic partnerships and initiatives aimed at driving Africa’s broader energy transformation.
