The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a revenue of N4.57 trillion in June 2025, bringing its total earnings for May and June to N10.57 trillion, despite prevailing global crude oil price challenges.
According to the company’s latest financial reports, NNPC posted a profit of N905 billion in June, raising its total profit for the two months to N1.956 trillion.
In May, the state-owned energy giant made a statutory remittance of N1.37 trillion to the Nigerian government, contributing to a cumulative N6.96 trillion paid between January and May 2025.
However, revenue slightly declined from N6 trillion in May to N4.57 trillion in June, a trend linked to fluctuating global crude prices, which averaged $71.44 per barrel during the period.
Despite the dip in earnings, NNPC achieved a notable increase in production:
- Crude oil and condensate output rose from 1.63 million barrels per day (mbpd) in May to 1.68 mbpd in June—the highest level since January 2025.
- Gas production also climbed to 7.58 million standard cubic feet per day (mmscf/d), up from 7.35 mmscf/d in May.
On infrastructure, NNPC announced that construction of the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline has reached 83% completion, up from 81% in May. The 614-kilometer pipeline is designed to transport 2.2 billion standard cubic feet of gas per day.
The company confirmed the successful completion of the River Niger Crossing segment of the AKK, describing it as a major milestone that significantly reduces project risk. It also announced that technical review has begun on the OB3 (Obiafu–Obrikom–Oben) Gas Pipeline, with plans to apply lessons from the AKK crossing.
In retail operations, availability of Premium Motor Spirit (PMS) at NNPC Retail stations improved from 62% in May to 71% in June.
Regarding Nigeria’s key refineries, the company stated that the review processes for the Port Harcourt, Warri, and Kaduna refineries are progressing.
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