NNPC Group has reported a staggering 150% increase in tax and royalty payments, reaching N14.71 trillion in 2025, up from N5.88 trillion in 2024. This significant rise is primarily attributed to a dramatic increase in royalties, which soared to N11.56 trillion from N2.83 trillion.
Alongside the rise in royalties, income tax payments also saw a slight increase, climbing to N3.15 trillion from N3.06 trillion. The company reported a 33% increase in profit after tax, totaling N7.2 trillion, despite a 24% decline in overall revenue.
Key Financial Highlights
- Royalties accounted for the largest share of payments, increasing over fourfold.
- Employee benefits and dividend payments also rose significantly, reflecting the company's strong financial position.
Investment spending in oil and gas properties increased, with NNPC Group investing N6.46 trillion in 2025, compared to N5.62 trillion in the previous year. This indicates a continued commitment to enhancing operational capacity despite revenue challenges.
The latest financial statements underscore the company's robust profitability and strategic investments, marking a pivotal year for NNPC Group as it navigates the evolving energy landscape.