Nigeria's NNPC reports N11.2 trillion in receivables from government for oil security and advances

In Nigeria, the Nigerian National Petroleum Company Limited (NNPC) reported receivables of N11.2 trillion from the Federation for 2025, covering costs and advances for securing oil and gas assets. This is 57% higher than the N7.13 trillion energy security expense in 2024. The figure includes N8.67 trillion in energy security costs, but no new energy security expense was recognized in 2025 after reconciliation with government obligations. Despite high security costs, NNPC reported record production and a 33% increase in profit after tax to N7.2 trillion.