NNPC cuts administrative expenses by 28% to N2.6tr, protects profitability
The Nigerian National Petroleum Company Limited (NNPC) reduced its administrative expenses by 28% to N2.6 trillion in 2025 to maintain profitability. The company also announced a $10 billion investment to revive the Ogun LNG project in Ogun State.
Why it matters
This reflects Nigeria's strategic shift toward cost-optimization and gas infrastructure development amidst global oil price volatility.
Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Bashir Bayo Ojulari
• Engages With Ogun Govt On Revival Of $10b Ogun LNG Project • Abiodun Links Project To $7b Deep Sea Port, Blue Marine SEZ
The Nigerian National Petroleum Company Limited (NNPC Ltd.) reduced its general and administrative expenses by 28 per cent to N2.6 trillion in 2025, as part of a sustained cost-optimisation drive aimed at protecting profitability amid a softer global oil price environment.
This is even as the company is set to invest an initial $10 billion in the development of the OgunLNG project in Ogun Waterside, Ogun State, as the long-delayed gas project enters a fresh phase of revival.
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