The Nigerian National Petroleum Company Limited (NNPC Ltd.) recorded N7.10 trillion in sundry income for 2025, an amount equivalent to roughly 99% of the N7.18 trillion net profit posted by the state-owned energy company for the year.
Figures contained in NNPC's 2025 Annual Financial Report, authorised and audited in September 2026, show that sundry income jumped about 181% from N2.53 trillion in 2024. The item became the dominant component of the group's N8.42 trillion total other income, accounting for about 84% of that figure.
Total other income climbed about 148% year-on-year from N3.39 trillion in 2024. The company also booked N1.99 trillion in net other losses, driven mainly by realised and unrealised foreign-exchange losses, which partly reduced the earnings boost from higher other income.
Chairman Ahmadu Musa Kida said the company delivered improved financial performance during a year marked by geopolitical instability, energy-transition pressures and broader macroeconomic uncertainty.
Profit after tax rose about 33% to N7.18 trillion from N5.41 trillion in 2024, even as revenue fell roughly 23% to N34.52 trillion from N45.08 trillion. Gross profit declined to N9.37 trillion from N11.71 trillion. In effect, NNPC generated about N10.56 trillion less revenue than in 2024 while profit after tax expanded by around a third, with sundry and other income providing significant support to earnings.
According to the financial report, the N7.10 trillion sundry income came from Trans-Forcados pipeline income, crude processing fees, miscellaneous income received from joint-venture operators and the writeback of a previously recognised provision relating to the Amenam-Kpono stock overlift claim. The report does not provide a separate monetary breakdown for the four components.
Other income also included N678.67 billion from variation in crude stock, N468.64 billion in management fees, N92.90 billion in Road Infrastructure Tax Credit uplift income, N26.46 billion in dividend income and several smaller items.
NNPC noted that sundry income was equivalent to approximately 98.9% of profit after tax, although this does not mean sundry income alone generated 99% of profit, because net profit is determined after accounting for revenue, operating costs, finance costs, gains and losses, taxes and other items.
