The Nigerian National Petroleum Company Limited (NNPC) reported a robust N905 billion profit after tax for June 2025, driven by a revenue of N4.571 trillion, according to its latest Monthly Report Summary. The strong financial performance was bolstered by significant increases in crude oil and gas production, signaling a rebound in Nigeria’s energy sector.
The report, released on Monday, highlighted a peak in daily crude oil and condensate production at 1.68 million barrels per day (mbpd) in June, the highest since January, up from 1.63 mbpd in May and 1.61 mbpd in April. Crude oil contributed 1.42 mbpd, with condensate making up 0.26 mbpd. Gas production also rose, reaching 7.581 billion standard cubic feet per day (scf/d) in June, compared to 7.352 billion scf/d in May and 6.615 billion scf/d in February. Gas sales increased to 4.742 billion scf/d from 4.698 billion scf/d in May.
Despite the production gains, crude oil and condensate sales dipped to 21.68 million barrels in June from 24.77 million in May, with February’s 25.31 million barrels remaining the year’s high. The NNPC attributed the upstream recovery to improved pipeline infrastructure, with a 97% availability rate due to reduced vandalism and sabotage. Key projects, including the Ajaokuta-Kaduna-Kano (AKK) pipeline, reached 83% completion, with the critical River Niger crossing finalized, significantly advancing the project.
Downstream, fuel availability at NNPC Retail Limited stations improved to 71% in June from May’s 62%, though distribution challenges persist. The North Central, South-South, and North West zones showed stronger fuel availability. The OB3 pipeline project neared completion at 96%, while reviews of the Port Harcourt, Warri, and Kaduna refineries progressed.
The NNPC’s statutory payments to the Federation from January to May totaled N6.961 trillion, underscoring its role in national revenue. On the social front, the NNPC Foundation trained 67,544 NYSC corps members in financial literacy in June, bringing the total to 870,383 nationwide. The company’s operational and financial strides reflect a positive outlook for Nigeria’s energy sector.
