NNPCL profit after tax soared to N502 billion in November

•Rakes in N4.358tr revenue •Vows to complete AKK pipeline

The Nigerian National Petroleum Company Limited (NNPCL) yesterday said its Profit After Tax soared to N502 billion in November 2025 from the N447 billion recorded in October 2025.

This was contained in its November 2025 report, which also noted that in the period under review, the state-owned oil company raked in N4.358 trillion. It was a decline from the N5.08 trillion it earned in the previous month.

From January to October, according to the report, NNPCL made N12.117trillion statutory payment.

In the month under review, NNPCL crude oil and condensate output was N1.60 million barrels per day while natural gas production was 6.968 million standard cubic feet/day.

The report however explained that the November production performance was largely due to planned maintenance activities across key assets (Esso-Erha, Stardeep-Agbami, and Renaissance-Estuary Area) nearing completion, with production recovery expected at the end of December 2025 and continued delays with West African Exploration and Production Company Limited (WAEP) first oil.

While Ajaokuta Kaduna Kano Pipeline (AKK) was 90 per cent completed, the 127 kilometers Obiafu-Obrikom-Oben (OB3) Gas Pipeline project (OB3) recorded 96 per cent completion in the period under review.

NNPC stressed that “AKK (Mainline): Significant progress recorded with completion of the mainline welding works and pressure-testing. Project is on course to be completed in 2026.

“OB3 River Niger Crossing: All required equipment, materials and personnel mobilized to site; geotechnical data acquisition completed and early construction works ongoing in preparation for commencement of drilling.”

According to NNPCL, as at November there was 100 per upstream availability.

On Premium Motor Spirit (PMS) availability, the report said NNPCL Retail Limited stations recorded 61 per cent.

The report revealed that NNPCL has completed the 2025 scheduled facilities turn around maintenance (TAM), and production initiatives from JV, PSC, and NNPC Exploration & Production Limited (NEPL) assets in readiness for delivering the 2026 production plan.

In the period under review, NNPCL said it intensified collaboration with its partners through year-end and into 2026 to ensure improved production performance, maximise infrastructure uptime, and maintain high facility maintenance standards across all our assets.”

The report said the rehabilitation of three wards at the National Orthopaedic Hospital, Igbobi Lagos, has reached 90.1 per cent completion as of November 30, 2025.

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NNPC is also reviewing its portfolio and plans to sell non-performing fields, the people said, adding that the firm will likely meet more than half of its fundraising target.

The energy company owned by Africa’s top oil producer plans to develop some of the fields in-house and is expected to call for bids early next year, the people said.

A spokesperson for the NNPC declined to comment.

The company plans to boost oil output by 5% to 1.8 million barrels per day next year compared with 2025 and is targeting 4 million barrels of daily output by 2030.

It also targets the completion of the $2.8 billion Ajaokuta-Kaduna-Kano pipeline, connecting various segments to the main line from early next year, one of the people said.

Once ready, the pipeline will deliver gas at scale to parts of northern Nigeria including the capital of Abuja, supplying industrial parks, fertilizer plants and power-generation facilities.