By Ayomide Otitoju
Nigerian National Petroleum Company (NNPC) Limited recorded a profit after tax of ₦535 billion in June 2026, representing a 15.8 per cent increase from the ₦462 billion reported in May.
The figures were contained in the company’s June 2026 Monthly Financial and Operations Report, which also showed total revenue of ₦4.389 trillion for the month.
According to the report, NNPC Limited’s cumulative statutory payments to the Federation from January to June 2026 rose to ₦6.286 trillion, reflecting the company’s continued contribution to national revenue.
The report indicated that average crude oil and condensate production declined slightly to 1.72 million barrels per day (mmbopd) from 1.73 million barrels per day recorded in May. The company attributed the marginal drop to operational disruptions, facility integrity issues, and subsurface challenges affecting several production assets.
In contrast, natural gas production increased to 7.841 million standard cubic feet per day (mmscf/d) in June, up from 7.774 mmscf/d in May, representing a 0.86 per cent increase and sustaining the company’s upward production trend.
NNPC also reported significant progress on its strategic gas infrastructure projects. The Obiafu-Obrikom-Oben (OB3) Gas Pipeline reached 98 per cent completion, with final tie-in works underway ahead of the planned First Gas delivery in August 2026.
Similarly, construction and installation works on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline advanced to 94 per cent completion, supporting the target of commencing gas supply to Abuja later in 2026.
