The Nigerian National Petroleum Company Limited recorded no voluntary employee resignations for the second consecutive year, with the company linking the strong retention rate to job security, career prospects and confidence in its ongoing transformation.
Data contained in NNPC’s 2025 Annual Financial Report showed that employees across all age groups below 60 recorded a zero per cent withdrawal-from-service rate in both 2024 and 2025.
Workers aged 30 and below, 31–39, 40–44, 45–49, 50–54 and 55–59 all recorded zero voluntary exits during the two-year period. The only 100 per cent withdrawal rate was recorded among employees aged 60, reflecting retirement rather than resignation.
NNPC’s Chief Corporate Communications Officer, Andy Odeh, said the figures pointed to a stable workforce and suggested that employees remained confident about their future with the company.
He said workers were attracted not only by salaries but also by opportunities for professional growth, job security, workplace safety and the chance to contribute to a broader purpose.
According to Odeh, NNPC’s transition from a government corporation into a commercially driven limited liability company had also created an opportunity for employees to participate in the transformation of Nigeria’s energy sector.
He said the company’s focus should be on understanding why employees choose to stay and strengthening those factors rather than simply trying to prevent staff departures.
The strong staff retention came as NNPC reported improved financial performance in 2025 despite a decline in revenue.
The company’s employee benefit expenses increased to N782.76bn at group level in 2025, compared with N702.39bn in 2024. For NNPC Limited alone, employee benefits rose from N219.18bn to N270.70bn.
NNPC Financial Controller, Tajudeen Kareem, said the company’s revenue fell by about 24 per cent during the year, mainly due to lower crude oil prices and changes in the downstream petroleum market.
Despite the revenue decline, profit after tax increased by 33 per cent to N7.2tn, while earnings before interest, taxes, depreciation and amortisation rose by 22 per cent.
Operating cash flow also increased by 16 per cent, while the company declared about N5.8tn in dividends, up from N4.3tn in 2024.
Kareem said average crude oil prices fell from about $79–$80 per barrel in 2024 to around $69 per barrel in 2025. He added that NNPC sold about 12 billion fewer litres of petroleum products during the year following changes in its downstream operations.
However, the reduction in revenue was accompanied by lower production costs and a greater focus on higher-margin activities, helping the company improve its profitability.
NNPC’s cost of sales ratio improved from 74 per cent to 73 per cent, while general and administrative expenses dropped by 28 per cent. The company also reduced its net debt by 28 per cent during the year.
Kareem said the changes reflected the need for NNPC to operate with greater financial discipline following its transition to a commercially focused company.
He added that NNPC would continue to prioritise oil production, asset reliability, cost reduction and gas development as it works towards its target of producing three million barrels of crude oil per day by 2030.
