ABUJA — NNPC Ltd's loans to related companies rose more than fivefold to N939.25 billion in 2025 from N185.54 billion, according to an analysis of its audited accounts by ThisDay. The largest amount, N485.17 billion, was owed by NNPC Gas Infrastructure Company, which received a N473.8 billion facility for the Nigeria–Morocco gas pipeline, the AKK pipeline and an equity injection into Anoh Gas. NNPC Energy Services owed N211.64 billion, while the Warri, Kaduna and Port Harcourt refineries owed N113.33 billion, N77.59 billion and N29.58 billion respectively.