NNPCL records N905b profit for June

The Nigerian National Petroleum Company Limited (NNPCL) has reported a profit after tax of ₦905 billion for June 2025, according to its Monthly Report Summary released Monday night in Abuja.
The state-owned oil and gas company also disclosed a total remittance of ₦6.96 trillion to the Federation Account between January and May 2025, up from ₦5.58 trillion recorded from January to April of the same year.
June’s profit of ₦905 billion reflects a decline from the ₦1.054 trillion posted in May. Similarly, monthly revenue dropped to ₦4.57 trillion in June, compared to ₦6 trillion in May, mirroring volatility in the global oil market.
Despite the dip in profit and revenue, operational performance showed signs of recovery. Daily crude oil and condensate production rose to 1.68 million barrels per day (bpd) in June — the highest level since January — up from 1.629 million bpd in May. Natural gas production also increased to 7.58 billion standard cubic feet per day (scf/d), compared to 7.35 billion scf/d the previous month.
Petrol availability at NNPC retail outlets improved significantly, rising to 71% in June from 62% in May. Progress was also made on key gas infrastructure projects: the Ajaokuta–Kaduna–Kano (AKK) pipeline advanced to 83% completion, up from 81%, while the OB3 pipeline remained at 96% completion. However, upstream pipeline availability dipped slightly to 97% from 98% in May.
NNPC highlighted key strategic milestones, including the successful River Niger crossing for the AKK pipeline, which has reduced project risk. A technical review of the OB3 River Niger crossing is now underway, applying lessons from the AKK segment. Work also continues on the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries.
In its Corporate Social Responsibility efforts, NNPC conducted a Financial Literacy Programme in June for over 67,000 National Youth Service Corps (NYSC) members nationwide. This brings the total number of corps members trained under the initiative to 870,383.
Overall, the report underscores NNPC’s pivotal role as a major revenue generator for the federal government amid ongoing fiscal pressures and economic reforms.