NNPC Ltd Rakes in ₦748 Billion Profit – But Can Oil Still Power Nigeria’s Future?
In April 2025, NNPC Ltd shook up the markets with a profit-after-tax announcement of ₦748 billion and total revenue of ₦5.891 trillion. In a world hurtling toward energy transition, this figure is not just big it’s symbolic. It’s the heartbeat of Nigeria’s economic pulse, a bold reminder that oil still runs the show… for now.
But behind the celebration lies a deeper question: Can this kind of oil money build Nigeria’s future or will it trap us in the past?
Big Revenue, Bigger Implications
With crude oil still king in Nigeria, NNPC Ltd’s blockbuster numbers represent more than just balance sheet wins. This is fiscal firepower the kind that can rebuild roads, stabilize naira volatility, and possibly fund future industrial expansion.
The ₦4.225 trillion in statutory payments made from January to March also signals a shift: a state oil giant acting like a disciplined corporate entity, transparent, accountable, and focused.
But let’s not get too comfortable. These numbers are unaudited and subject to the whims of global oil prices, geopolitical shifts, and green energy disruption.
Oil = Power. Still.
This profit report also underscores the raw political weight oil still holds in Nigeria. As NNPC lines up 2025 Final Investment Decisions (FIDs) for key projects like Brass Fertilizer and Ntokon Development, it’s clear the company is more than just an oil firm it’s a political actor.
Increased capital investment could mean more jobs, more influence, and more power shifts. But if poorly managed, it could deepen elite capture and rent-seeking behaviour.
Refineries Stalled, Production Strong
- 1.6 million barrels/day of crude and condensate
- 7,473 mmscf/d of natural gas
- 54% petrol station availability
- 97% upstream pipeline functionality
Strong stats but don’t miss the catch. The Warri, Kaduna, and Port Harcourt refinery overhauls are still “under review”. Until Nigeria refines its own fuel, we remain vulnerable to import shocks and forex outflows.
The Future Is (Still) Oil But for How Long?
With new projects in crude expansion and natural gas, NNPC Ltd is investing hard in fossil fuel infrastructure. That’s both a blessing and a gamble.
Financial Juggernut’s take? This profit must be used to future-proof Nigeria. Infrastructure, renewables, manufacturing, education, this is what long-term economic resilience looks like.
Final Word from Financial Juggernut
A ₦748 billion profit is impressive. Nigeria must use today’s oil wealth to escape tomorrow’s resource trap.
Because oil might pay the bills but only innovation, transparency, and diversification will pay Nigeria’s future.