We spent N11.2tn to protect Nigeria’s oil assets in 2025 -NNPC

The Nigerian National Petroleum Company (NNPC) Limited spent N11.2 trillion in 2025 to protect the country’s oil and gas assets on behalf of the Federal Government, according to its 2025 audited financial report obtained by TheCable.

The expenditure was recorded as “other receivables from federation”, covering advance payments and costs incurred to secure oil and gas assets under an approved framework between the government and NNPC.

The company said the expenses were recoverable from the federation as energy security costs. It, however, reported that no “energy security expense”, commonly referred to as petrol subsidy, “was recognised” in 2025, compared with N7.13 trillion in 2024.

NNPC generated N34.52 trillion from contracts with customers during the year, including crude oil, petroleum products, natural gas, power and services. Crude oil sales accounted for N25.39 trillion, while petroleum product revenue fell to N2.1 trillion from N9.68 trillion.

Natural gas revenue rose to N6.15 trillion, while the company paid N499 billion in gas flare penalties and fees.