NNPC reports N905bn profit for June, remits N6.96trn in five months

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

The NNPC Monthly Report Summary for June, released on Monday, showed that the company posted a Profit After Tax (PAT) of N905 billion in June, down from N1.054 trillion recorded in May.

Despite the decline in monthly profit, the company confirmed a cumulative statutory remittance of N6.961 trillion from January to May 2025, a rise from the N5.583 trillion recorded between January and April.

The report indicated a gradual rebound in upstream activities, with daily crude oil and condensate production rising to 1.68 million barrels per day (bpd), the highest output since January.

It also showed that the NNPC’s June revenue stood at N4.571 trillion, down from N6.008 trillion in May, reflecting fluctuations in the global oil market.

“Crude oil and condensate production increased slightly, rising from 1.629 million bpd in May to 1.68 million bpd in June.

“Natural gas production also rose to 7.581 billion standard cubic feet per day (scf/d) in June, up from 7.352 billion scf/d in May, indicating a steady recovery in output,” the report indicated.

Fuel supply also witnessed an improvement during the period under review, with petrol availability at NNPC retail stations climbing to 71 per cent in June from 62 per cent in May.

The report further noted progress on major gas infrastructure projects, stating that the Ajaokuta–Kaduna–Kano (AKK) pipeline had reached 83 per cent completion, up from 81 per cent, while the OB3 pipeline remained at 96 per cent.

“Upstream pipeline availability slightly dipped from 98 per cent in May to 97 per cent in June,” it added.

It highlighted that technical milestones had been achieved on key projects, including the successful crossing of the River Niger segment of the AKK pipeline, which significantly de-risked the project’s completion.

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It also revealed that a technical review had commenced on the OB3 River Niger crossing, aimed at applying insights from the AKK’s progress.

According to the report, reviews are still ongoing on the Port Harcourt, Warri, and Kaduna refineries.

As part of its Corporate Social Responsibility initiatives, NNPC said it conducted a Financial Literacy Programme in June for over 67,000 National Youth Service Corps (NYSC) members across Nigeria, bringing the total number of trainees under the scheme to 870,383.

It added that all production, sales, and financial figures were provisional and would be reconciled with relevant stakeholders.

According to the report, this performance underscores NNPC’s continued role as a critical revenue contributor to the Nigerian government amid ongoing economic reforms and fiscal challenges.

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