The Nigerian National Petroleum Company Limited (NNPCL) announced it made N20.9 trillion between April and July 2025. The figures came alongside renewed pressure from petroleum marketers, who are urging the company to speed up the repair of the country’s refineries in Port Harcourt, Warri, and Kaduna.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) said getting the refineries back to work would reduce reliance on imports and stabilise fuel prices. They also advised that the plants remain under NNPC’s control rather than being privatized.

NNPC’s reports show its income fluctuated during the period. Revenue climbed to N6.01tn in May but later dipped to N4.41tn in July. Profit after tax also dropped sharply from N1.05tn in May to just N185bn in July—an almost 80% fall. Even with this decline, the company still posted N2.89tn profit across the four months. Analysts believe this could point to stronger year-end results compared to 2024, though the company’s full 2024 financial statement has not yet been released.

NNPC said it paid N7.97tn into the federation account in the first half of the year. However, concerns remain over billions of naira in unpaid royalties and taxes. A World Bank report earlier this year noted that the company has been remitting only about half of the revenue savings from fuel subsidy removal, using the rest to cover old debts.

IPMAN noted that parts of the Port Harcourt refinery are close to completion. The association urged NNPC to run the facilities efficiently before considering technical partners, warning that private control could lead to higher fuel costs for Nigerians.