Business
July: NNPCL Records Revenue, Profit Drop
The Nigerian National Petroleum Company Limited (NNPCL) has reported a decline in both revenue and profit for July 2025.
According to its latest monthly performance report released Thursday on its official X handle, the company’s revenue stood at ₦4.406 trillion, a drop from the ₦4.571 trillion recorded in June. Profit after tax (PAT) also fell sharply to ₦185 billion, compared to ₦900 billion in the previous month.
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Despite the dip, NNPCL disclosed that between January and July 2025, it remitted ₦7.965 trillion into the Federation Account—an increase from the ₦6.961 trillion posted for the January to May period.
On crude output, the report noted a modest rise in production levels, with Nigeria’s crude oil and condensate output averaging 1.70 million barrels per day in July, slightly higher than the 1.68 mbpd recorded in June.
The company further stated that the availability of Premium Motor Spirit (PMS) across its retail stations was at 70 percent during the same month.
The monthly report is part of a transparency drive initiated by NNPCL Group CEO, Bayo Ojulari, who introduced routine performance reviews following his appointment in April 2025.
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