Oil
Civil society groups commend NNPCL reforms and output gains
A coalition of civil society organisations in Abuja has praised NNPCL's recent financial performance, production highs, and retail fuel discounts.
Key points
- NNPCL reported a 2025 Profit After Tax of ₦7.2 trillion alongside ₦5.8 trillion in declared dividends.
- Crude oil and condensate production reached a five-year peak of 1.77 million barrels per day.
- A temporary ₦66 per litre fuel discount was introduced at NNPCL retail outlets for Independence anniversary.
Sector performance
According to reports by Legit.ng, a coalition comprising the Parliamentary Support Network and the Reformers Network held a press briefing in Abuja to highlight recent achievements within the nation's oil and gas sector. Representatives Amb. Muhammad Abdulrazaq and Comr. Adams Umoren pointed to the company's 2025 audited financial statements as proof of positive outcomes under the leadership of Group Chief Executive Officer Bashir Bayo Ojulari.
The figures submitted to President Bola Ahmed Tinubu indicated a Profit After Tax of ₦7.2 trillion, representing a 33 percent increase from the preceding year. Additionally, the state oil firm declared ₦5.8 trillion in dividends and achieved a five-year production high of 1.77 million barrels per day for crude and condensates.
Fuel pricing and infrastructure
The civil society groups also noted the implementation of a temporary ₦66 per litre reduction on Premium Motor Spirit at nationwide retail stations. The measure was designed to mark the country's 66th Independence Anniversary and remains funded through internal retail margins rather than the Federation Account. Further support was expressed for ongoing gas infrastructure projects, including the Ajaokuta-Kaduna-Kano pipeline.
While recognising existing hurdles such as international market volatility and institutional legacy issues, the coalition urged management to maintain strict cost discipline and transparency. A separate statement from the Coalition for Good Governance, signed by Comrade Danjuma Bello, similarly endorsed the retail price cuts as helpful relief during challenging economic conditions.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
