Nigerian National Petroleum Company Limited (NNPCL) reported a profit after tax of N535 billion for June 2026, up sharply from the previous month as revenue and payments to the federation remained strong.
Quick facts
- June profit after tax: N535 billion, compared with N462 billion in May.
- Monthly revenue: N4,389 billion.
- Statutory remittances from January through June: N6,286 billion.
- Average crude and condensate output: 1.72 million barrels per day.
- Natural gas production: 7.841 million standard cubic feet per day.
- OB3 pipeline completion: 98%; AKK pipeline completion: 94%.
The state-owned energy company disclosed the figures in its June financial statement issued on Friday. June’s PAT rose 15.8% from the N462 billion recorded in May.
NNPCL generated the monthly profit from revenue of N4,389 billion. Its aggregate statutory payments to the Federation reached N6,286 billion in the first six months of 2026, highlighting the company’s continuing role in government revenue collection.
Average crude oil and condensate production edged down to 1.72 million barrels per day from 1.73 million barrels per day in May. NNPCL linked the reduction to operational interruptions, problems affecting facility integrity and subsurface difficulties at multiple assets.
Gas output moved in the opposite direction, climbing to 7.841 million standard cubic feet per day from 7.774 million standard cubic feet per day. The 0.86% monthly increase extended the company’s recent growth in natural-gas production.
Work on the Obiafu-Obrikom-Oben (OB3) Gas Pipeline reached 98% completion. Final tie-in operations are under way, with first gas targeted for August 2026.
The Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline also advanced, reaching 94% completion. Construction and installation progress supports the objective of delivering gas to Abuja early in 2026.
