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NNPC’s Key financial performance without subsidy in 2025: Some lessons for Atiku EBITDA ( Earnings Before Interest, Taxes, Depreciation, and Amortisation) rose 22% to ₦18.0 trillion; Earnings Per Share increased 32% to ₦35.9; Operating cash flow grew 16% to ₦12.8 trillion; Return on Equity improved by 200 basis points to 16%; and the declared dividend increased 35% to ₦5.8 trillion. Operational Highlights : Crude oil and condensate production averaged 1.77 million barrels per day, its highest level in five years. Natural gas output averaged 7.2 billion standard cubic feet per day, a three-year high. Oil and condensate production totalled 565.8 million barrels, up 5%, with NNPC Limited’s equity share increasing 11% to 223.7 million barrels. Natural gas production reached 2,606.2 billion standard cubic feet, up 9%, while its equity share rose 11% to 1,154.9 billion standard cubic feet. Atiku’s subsidy programme will certainly kill this company, which could be our own Aramco. Our country has no business taking 100 steps back. Forward ever!
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