Nigeria’s oil giant, the Nigerian National Petroleum Company Limited (NNPCL) recorded a profit after tax of N502bn in November 2025, sustaining its profitability streak despite a decline in crude oil and condensate production during the month.
Figures from the NNPCL Monthly Financial and Operations Report for November 2025 released on Wednesday, showed that the Nigerian oil giant also generated N4.36tn in revenue, reflecting a marginal increase compared with October, as improved gas output, full pipeline availability and steady domestic fuel supply offset upstream production challenges.
The report by Punch newspaper on Wednesday stated that crude oil and condensate production averaged 1.36 million barrels per day in November, recovering slightly from 1.30mbpd recorded in October, but still below the year’s peak of 1.77mbpd achieved earlier in 2025.
The November output, however, marked the first rebound after three consecutive months of decline between August and October.
Gas production rose marginally to 6,968 million standard cubic feet per day, compared with 6,997mmscf/d in October, underscoring the continued role of gas in stabilising NNPCL’s operational performance amid crude-related disruptions.
“NNPCL said the ₦502bn profit recorded in November was driven by “improved gas production, strong trading performance and sustained infrastructure availability, despite operational challenges in some crude-producing assets,” the report read.
According to the report, the N502bn profit recorded in November represents a slight improvement on October’s performance, consolidating the company’s strong earnings momentum in the second half of the year.
Revenue for the month stood at N4.358tn, driven largely by gas sales, trading activities and improved infrastructure uptime.
GIK/APA