By Ayomide Otitoju
NNPC Limited recorded a Profit After Tax (PAT) of ₦462 billion in May 2026, reflecting continued month-on-month growth across key operational and production indicators, according to its latest Monthly Report and Financial Summary.
The company reported that average crude oil and condensate production increased to 1.73 million barrels per day (mmbpd) in May, up from 1.68 million barrels per day recorded in April, representing a 2.98 per cent increase.
Natural gas production also recorded modest growth, rising to 7.774 million standard cubic feet per day (mmscf/d) from 7.730 mmscf/d in the previous month, an increase of 0.57 per cent.
On infrastructure development, NNPC disclosed that the Obiafu-Obrikom-Oben (OB3) Gas Pipeline project has reached 97 per cent completion, with pre-commissioning and tie-in activities ongoing ahead of its planned commissioning by the end of the third quarter of 2026.
The company also reported continued progress on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, where construction, installation and pre-commissioning activities are advancing in line with plans to commence gas delivery to Abuja later this year.
According to the report, total revenue for May stood at ₦4.335 billion, while cumulative statutory payments between January and May 2026 amounted to ₦4.858 trillion.
NNPC said the performance reflects sustained improvements in production, operational efficiency and strategic infrastructure development aimed at strengthening Nigeria’s oil and gas sector.Copyright TRUSTAFRICA NEWS.
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