NNPC records N535bn profit after tax for June 2026

The nation’s oil company, the Nigerian National Petroleum Company Limited (NNPC Limited), has recorded a profit after tax of ₦535 billion for the month of June, representing a 15.8 per cent increase from the ₦462 billion recorded in May.

The figure is contained in the company’s Monthly Financial and Operations Report for June 2026. Total revenue for the month stood at ₦4.389 trillion, while cumulative statutory payments to the Federation between January and June 2026 increased to ₦6.286 trillion, underscoring NNPC Limited’s sustained contribution to national revenue generation.

Average crude oil and condensate production witnessed a slight decline, standing at 1.72 million barrels per day (mmbopd), compared to 1.73 million barrels per day in May. The decline was attributed to operational disruptions, facility integrity issues and subsurface challenges across several assets.

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Natural gas production rose to 7.841 million standard cubic feet per day (mmscf/d) from 7.774 mmscf/d in May, representing a modest 0.86 per cent increase and continuing the company’s upward trajectory in gas production.

The Obiafu-Obrikom-Oben (OB3) Gas Pipeline project progressed to 98 per cent completion, with final tie-in works ongoing ahead of the target of achieving First Gas in August 2026.

Construction and installation activities on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline advanced to 94 per cent completion, supporting the target of early gas delivery to Abuja in 2026.