NNPC 2025 revenue plunges N10.6trn on 77.6% petroleum products decline

NNPC Limited's 2025 audited report shows group revenue fell by N10.56 trillion, driven by a 77.6% drop in petroleum products revenue. The decline signals weakened downstream margins or reduced volumes, potentially reflecting subsidy reforms or market shifts. This is a major financial deterioration for Nigeria's state oil firm, with implications for government revenues and energy sector stability.