The NPA financial performance strengthened sharply in 2025, with total revenue rising by 43.09% to GH¢819.50 million as internally generated funds and investment income improved, according to the 2025 State Ownership Report.
Revenue increased from GH¢572.71 million in 2024, while the National Petroleum Authority’s surplus climbed even faster, reaching GH¢447.19 million from GH¢254.24 million a year earlier.
That represents a 75.89% increase in surplus.
IGF Drives Revenue Growth
Internally Generated Funds remained the Authority’s biggest revenue driver, increasing 38.40% from GH¢431 million in 2024 to GH¢596.50 million in 2025.
Finance income recorded the fastest growth, surging 332.11% from GH¢17.35 million to GH¢74.99 million.
The report linked the increase to stronger returns from investments and treasury management activities, showing that financial assets made a much larger contribution to the NPA’s income during the year.
Other income also rose 19.22% to GH¢151.76 million from GH¢127.29 million.
Spending Rises at Slower Pace
Expenditure increased, but nowhere near the pace of revenue growth.
Administrative expenses rose 17.61% to GH¢354.86 million, compared with GH¢301.73 million in 2024.
Operating expenses edged up 4.15% to GH¢17.32 million, while finance costs increased from GH¢0.11 million to GH¢0.13 million.
The slower growth in expenditure relative to revenue widened the Authority’s operating margin and helped push its surplus significantly higher.
The 2025 figures therefore point to a stronger financial position for the petroleum regulator, with both core revenue and investment returns contributing to the improvement.
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