The National Petroleum Authority (NPA) recorded a significant improvement in its financial performance in 2025, with total revenue rising by 43.09% to GH¢819.50 million and its surplus increasing by 75.89% to GH¢447.19 million.

This is contained in the 2025 State Ownership Report by the State Interests and Governance Authority (SIGA).

The NPA’s revenue increased from GH¢572.71 million in 2024 to GH¢819.50 million in 2025, driven largely by growth in internally generated funds (IGF), finance income and other income.

IGF rose by 38.40%, from GH¢431 million in 2024 to GH¢596.50 million in 2025.

Finance income recorded the strongest growth among the Authority’s revenue streams, increasing by 332.11% from GH¢17.35 million to GH¢74.99 million.

The report attributed the increase to improved returns on investments and treasury management activities.

Other income also increased by 19.22%, from GH¢127.29 million in 2024 to GH¢151.76 million.

Surplus rises 76%

The strong revenue growth outpaced the increase in expenditure, resulting in a surplus of GH¢447.19 million in 2025.

This represents a 75.89% increase over the GH¢254.24 million surplus recorded in 2024.

Administrative expenses, however, increased by 17.61%, from GH¢301.73 million to GH¢354.86 million.

The report linked the increase to the expanded scope of the NPA’s regulatory, administrative and institutional operations.

Operating expenses also increased by 4.15%, from GH¢16.30 million in 2024 to GH¢17.32 million in 2025.

Finance costs recorded a smaller increase, rising from GH¢0.11 million to GH¢0.13 million, representing a 22.25% increase.

Despite the rise in these expenditure items, the significantly stronger revenue growth enabled the Authority to substantially improve its financial position during the year.