The Nigerian National Petroleum Company Limited (NNPC Ltd), Nigeria’s state-owned energy corporation, posted a profit after tax of ₦502 billion in November 2025, maintaining its profitability momentum.
Okay News reports that the performance was driven by robust gas production, strong trading activities, and full pipeline availability, offsetting a slight dip in crude oil output.
Revenue for the month reached ₦4.358 trillion, a marginal increase from October, according to the NNPC Monthly Financial and Operations Report released on Wednesday.
Crude oil and condensate production averaged 1.36 million barrels per day in November, recovering modestly from 1.30 million bpd in October after three months of decline.
Gas production remained stable at 6,968 million standard cubic feet per day, nearly matching October’s level and supporting overall earnings resilience.
Cumulative statutory remittances to the Federation Account hit ₦12.12 trillion from January to October 2025.
Amid the strong financials, NNPC joined a growing downstream price competition by reducing petrol pump prices below ₦800 per litre at its retail stations.
The adjustment follows recent cuts by the Dangote Petroleum Refinery, which lowered ex-depot prices to ₦699 per litre and directed outlets to sell at ₦739.
Some NNPC stations in Lagos and Ogun states were observed selling at ₦785 per litre to compete with rivals like MRS offering lower rates.
The price war has intensified since Dangote refinery’s full deregulation impact, eliminating queues and shifting patronage to cheaper outlets.
Industry stakeholders welcomed the development, noting it benefits consumers while market forces regulate pricing.
NNPC Group Chief Executive Bayo Ojulari assured that the competition will ultimately favour Nigerians as the sector transitions to domestic refining dominance.
, Nigeria's state-owned energy corporation, posted a profit after tax of ₦502 billion in November 2025, maintaining its profitability momentum.){kind=link}