The Nigerian National Petroleum Company Limited, NNPC Ltd., has reported a 15.8 per cent rise in profit after tax, reaching ₦535 billion in June 2026, despite a slight decline in crude oil and condensate production.
The company’s latest Monthly Financial and Operations Report showed that profit increased by ₦73 billion from the ₦462 billion recorded in May, while monthly revenue climbed to ₦4.389 trillion. It also revealed that statutory payments to the Federation between January and June 2026 stood at ₦6.286 trillion.
NNPC said average crude oil and condensate output dropped marginally to 1.72 million barrels per day in June from 1.73 million barrels per day in May, due to operational disruptions, facility integrity concerns and subsurface challenges across some assets.
Despite the production dip, crude oil and condensate sales rose significantly, increasing to 28.23 million barrels in June from 18.95 million barrels the previous month. Gas production and sales also recorded improvements during the period.
The company further disclosed progress on key gas infrastructure projects, with the Obiafu-Obrikom-Oben Gas Pipeline reaching 98 per cent completion, while the Ajaokuta-Kaduna-Kano Gas Pipeline advanced to 94 per cent.
NNPC said it remains focused on boosting production, improving facility reliability, reducing downtime and accelerating projects to support sustained growth in the upstream sector.
