NNPC Achieved N905bn Profit in June, Federation Remittances Reach N6.96tn in 5 Months

The Nigerian National Petroleum Company Limited (NNPC) yesterday declared a Profit After Tax (PAT) of N905 billion for its June operations, a drop from the N1.054 trillion recorded in the previous month of May.

However, the national oil company posted statutory payments of N6.961 trillion to the federation between January and May 2025, up from the N5.583 trillion it remitted from January to April this year.

Besides, the NNPC, in its Monthly Report Summary for June released last night, announced a total revenue of N4.571 trillion in June, down from the N6.008 trillion earnings which it made in the May 2025 reporting circle.

But crude oil and condensate production rose from 1.629 million barrels per day in May to 1.68 million during the period under consideration, showing an increase of 51,000 bpd between May and June this year.

In the same vein, natural gas production was 7.581 billion standard cubic feet per day (scf/d) in June, up from 7.352 billion scf/d in May and 6.615 billion scf/d in February, indicating a steady rebound in output.

Petrol availability in NNPC stations was 71 per cent in June, up from 62 per cent in May, while the critical gas infrastructure, OB3 remained at 96 per cent completion, unmoved from the preceding month and AKK pipeline hit 83 per cent completion from 81 per cent reported previously.

Upstream pipeline availability was down a notch from 98 per cent in May to 97 per cent in June.

In terms of current strategic efforts, it said: “Ongoing industry-wide collaborations are increasingly improving synergies to achieve production improvement and cost optimisation.

“AKK successfully completed the AKK River Niger Crossing which significantly derisked the completion of the mainline. Additional intervention is being put in place to ensure earliest completion.

“(We) commenced technical review of OB3 River Niger crossing to replicate learnings from AKK River Niger crossing success.”

However, on the status of the refineries, it stated that review of the Port Harcourt, Warri and Kaduna refineries was still in progress.

On its Corporate Social Responsibility (CSR) activities, the NNPC added: “The Financial Literacy Programme for Batch A, Stream 2 NYSC corps members was successfully conducted on Sunday, 15th June 2025 via online streaming, reaching 67, 544 participants across the 36 states and the FCT, bringing the cumulative number of corps members trained under the programme to 870,383.”