NNPCL announces petrol pump price at N815/litre as company records N502bn PAT

*The Nigerian National Petroleum Company Limited reduce the pump price of petrol across its retail outlets to N815 per litre, in Abuja, the country’s capital city

Isola Moses | ConsumerConnect

The Nigerian National Petroleum Company (NNPC) Limited, for the second time within a week, has slashed the pump price of the Premium Motor Spirit (PMS), also known as petrol, across its retail outlets to N815 per litre, in Abuja, FCT.

ConsumerConnect reports checks Monday, January 5, 2026, in major outlets of the NNPC Limited in the FCT, indicated that the price of the product dropped by N20 from the previous price of N835 per litre.

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For instance, at the Lugbe Branch of the NNPC, in a suburb of Abuja, the state oil company has reduced the price to N815 per litre.

However, at Apple Junction, Festac Town, in Lagos, the NNPC has sold the product for N785 per litre.

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Likewise, situation reports showed that the PMS price, for now, seems to have remained unchanged in Lagos.

Earlier, the private depot owners few days ago  had increased the ex-depot price of petrol in major locations across Nigeria.

Hitherto, checks indicated that the state-owned oil company, which serves as a supplier of last resort, was selling petrol at about N875 per litre two weeks earlier when MRS began selling at N739 per litre.

A week later, NNPC reduced prices to between N825 and N845 per litre, depending on location.

Speaking on NNPCL’s latest pump price slash, Joseph Obele, National Publicity Relations Officer (PRO) of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) reportedly said that oil prices might rise further in the coming days in the economy.

Obele attributed the trend to reports that the Dangote Petroleum Refinery was shutting down operations for a planned “turnaround maintenance” at the oil-refining facility.

Recently, Dangote Refinery also reduced its ex-gantry petrol price to N699 per litre, down from N828, representing the lowest price in about two years, the company stated.

Meanwhile, Dangote Refinery has pooh-poohed any claims of a shutdown, according to reoort.

A close source was quoted to have said that oil production at the plant is still in progress.

NNPCL records N502bn Profit After Tax

In a related development, the NNPC Limited has announced the state oil firm recorded a Profit After Tax (PAT) of N502 billion November 2025.

The company noted that it has sustained a profitability streak despite a decline in crude oil and condensate production during the month last year.

The state-owned energy company simultaneously, has joined an intensifying price war in the downstream petroleum sector by cutting the pump price of petrol below N800 per litre.

It was gleaned from the NNPC Monthly Financial and Operations Report for November 2025, that the NNPC Limited generated N4.36 trillion in revenue during the month, reflecting a marginal increase compared with October.

The NNPCL attributed the improved performance to stronger gas output, full pipeline availability, and steady domestic fuel supply, which helped to offset challenges in crude oil production in the West African country.

Crude oil and condensate production averaged 1.36 million barrels per day in November, recovering slightly from the 1.30mbpd recorded in October, but remaining below the year’s peak of 1.77mbpd achieved earlier in 2025.

The November figure marked the first rebound after three consecutive months of decline between August and October, report said.

Gas production, however, remained relatively resilient.

This output stood at 6,968 million standard cubic feet per day as of November last year, compared with 6,997mmscf/d October 2025.

This development, the company stated, underscored the continued role of gas in stabilising the company’s operational performance amid crude-related disruptions.

The financial report also noted: “NNPC said the N502bn 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 November profit represented 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.

Cumulatively, statutory payments to the Federation Account rose to N12.12 trillion between January and October 2025, highlighting NNPC’s growing fiscal contribution to government revenues at a time of heightened pressure on public finances in Nigeria.

It is equally noted that the sustained profitability reflects the state oil company’s post-commercialisation structure, improved cost discipline, and expanding gas footprint, even as oil production remains vulnerable to operational setbacks and asset-specific disruptions.

Besides, data from the report indicated that crude and condensate output in November benefited from partial recovery at some assets following earlier disruptions.

Production averaged 1.36mbpd, compared with 1.30mbpd in October, representing an increase of about 60,000 barrels per day month-on-month.

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