The Nigerian National Petroleum Company Limited (NNPCL) has disclosed that it spent N11.2 trillion in 2025 to protect the country’s oil and gas assets on behalf of the Federal Government, and that the money remains outstanding.

The disclosure is contained in the company’s 2025 audited financial statements, where the amount is recorded as “other receivables from federation”.

The company explained that the line covers advance payments made to the federation as well as costs incurred in securing oil and gas infrastructure. It said the spending was carried out under an approved framework between the Federal Government and the group, which allows it to incur security costs and recover them from the federation.

In practical terms, this means the Federal Government is expected to reimburse the national oil company. The filing, however, gives no schedule for when or how the N11.2 trillion will be settled.

The figure is equivalent to about 34 per cent of the company’s total revenue for the year.

The report also showed that NNPCL did not recognise any new “energy security expense” in 2025, a category commonly linked to petrol subsidy, compared with N7.13 trillion recorded under that heading in 2024.

The accounts further disclosed a defrayed energy security cost of N8.9 trillion carried over from 2024.

According to the company, a reconciliation exercise with relevant government agencies netted off the energy security cost receivables against royalties, tax and dividends due as at December 2024. That exercise was recorded in September 2025.

The development comes as NNPC reported an 18.3 per cent rise in pre tax profit to N11.31 trillion for the year, up from N9.56 trillion in 2024.

Crude oil and condensate production also averaged 1.77 million barrels per day, the highest level in five years. The size of the outstanding claim against the federation, however, underlines the dual role the company plays as both a commercial entity and a vehicle for carrying out government energy obligations.