By: Goodluck E.Adubazi, Abuja.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) recorded a ₦535 billion profit after tax (PAT) in June 2026, representing a 15.8 per cent increase from the ₦462 billion recorded in May.
The latest performance is contained in the company’s June 2026 Monthly Financial and Operations Report, highlighting continued strong financial performance and contribution to Nigeria’s national revenue.
NNPC Ltd. reported total revenue of ₦4.389 trillion during the month, while its cumulative statutory payments to the Federation between January and June 2026 rose to ₦6.286 trillion.
The figures underscore the company’s continued role in supporting government revenue generation amid ongoing efforts to strengthen Nigeria’s oil and gas sector.
Meanwhile, average crude oil and condensate production recorded a slight decline, falling to 1.72 million barrels per day (mbopd) in June from 1.73 million barrels per day in May.
According to the report, the marginal decline was attributed to operational disruptions, facility integrity issues and subsurface challenges across several assets.
Despite the dip in crude production, NNPC Ltd. recorded an increase in natural gas output. Gas production rose to 7.841 million standard cubic feet per day (mmscf/d) from 7.774 mmscf/d in May, representing a 0.86 per cent increase.
The company also reported significant progress on strategic gas infrastructure projects aimed at improving domestic gas supply and supporting economic development.
The Obiafu-Obrikom-Oben (OB3) Gas Pipeline has reached 98 per cent completion, with final tie-in works ongoing ahead of the targeted achievement of First Gas in August 2026.
Similarly, construction and installation activities on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline have advanced to 94 per cent completion.
The progress on the AKK project is expected to support the delivery of gas to Abuja in 2026, further strengthening the country’s domestic gas infrastructure.
The June performance places NNPC Ltd. on a strong financial footing, with rising profitability, substantial statutory payments and continued investment in critical oil and gas infrastructure.
