NNPC declares N905bn profit for June

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has disclosed that it remitted N6.96 trillion to the Federation Account in the first five months of 2025.

This was revealed in the company’s Monthly Report Summary for June, released on Monday.

Despite a decline in monthly profit, the report stated that NNPC posted a Profit After Tax (PAT) of N905 billion for June 2025, down from N1.054 trillion in May. The cumulative remittance figure marks a significant increase from N5.583 trillion recorded between January and April, reflecting continued contributions to national revenue amid fluctuating oil markets.

According to the report, daily crude oil and condensate production climbed to 1.68 million barrels per day (bpd) in June, the highest level since January, signalling a steady rebound in upstream activity. Natural gas production also rose to 7.581 billion standard cubic feet per day (scf/d), up from 7.352 billion scf/d in May.

Revenue in June stood at N4.571 trillion, a drop from N6.008 trillion in May, attributed to global oil market dynamics. Nonetheless, the company highlighted operational gains, including improvements in fuel supply, with petrol availability at NNPC retail stations rising to 71 per cent in June, compared to 62 per cent in May.

Progress was also recorded in the completion of strategic gas infrastructure projects. The Ajaokuta–Kaduna–Kano (AKK) pipeline advanced to 83 per cent completion, up from 81 per cent, while the OB3 pipeline remained at 96 per cent. The report noted that the upstream pipeline availability slightly decreased to 97 per cent in June from 98 per cent in May.

NNPC also reported a successful technical milestone with the crossing of the River Niger segment of the AKK project, which has significantly reduced risks to pipeline completion. A technical review of the OB3 River Niger crossing is underway, applying insights from the AKK experience.

Refinery reviews for Port Harcourt, Warri, and Kaduna remain ongoing.

On corporate social responsibility, NNPC said it conducted a Financial Literacy Programme in June for over 67,000 National Youth Service Corps (NYSC) members, bringing the total number trained under the initiative to 870,383.

All figures in the report were described as provisional and subject to reconciliation with relevant stakeholders. NNPC Ltd. reaffirmed its central role in supporting Nigeria’s fiscal structure and economic reform agenda through sustained revenue contributions.