The Nigerian National Petroleum Company Limited (NNPC Ltd.) has disclosed that it remitted N6.96 trillion to the Federation Account between January and May 2025, underscoring its vital role in funding the government amid ongoing economic reforms.
According to its June Monthly Report released on Monday, the state oil firm posted a Profit After Tax (PAT) of N905 billion for June 2025. This figure represents a drop from the N1.054 trillion reported in May, reflecting market volatility.
Despite the decline in monthly profits, the cumulative remittance to the Federation Account rose sharply, up from N5.58 trillion in April to N6.96 trillion in May, highlighting strong performance over the five-month period.
The report showed a rebound in upstream activities, with average daily crude oil and condensate production increasing to 1.68 million barrels per day (bpd) in June, compared to 1.63 million bpd in May. This marks the highest production level since the beginning of the year.
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Natural gas production also improved, reaching 7.58 billion standard cubic feet per day (scf/d) in June, up from 7.35 billion scf/d in May.
Revenue for the month stood at N4.57 trillion, down from N6 trillion recorded in May—attributed to fluctuations in the global oil market.
Petrol supply to NNPC retail stations saw a notable improvement, with availability climbing to 71% in June from 62% in May.
Progress was also reported in key gas infrastructure projects. The Ajaokuta–Kaduna–Kano (AKK) gas pipeline is now 83% completed, up from 81%, while the OB3 pipeline maintained a 96% completion rate. The successful River Niger crossing on the AKK project has reduced major risks to final delivery.
Meanwhile, upstream pipeline availability saw a marginal dip to 97% in June, from 98% in May. The company also began a technical review of the OB3 River Niger segment to replicate lessons from the AKK project.
Refinery rehabilitation projects in Port Harcourt, Warri, and Kaduna remain ongoing, with technical reviews continuing.
In terms of Corporate Social Responsibility, the report revealed that NNPC trained over 67,000 members of the National Youth Service Corps (NYSC) in June as part of its Financial Literacy Programme, raising the total number trained to 870,383.
NNPC noted that all figures are provisional and subject to reconciliation with relevant stakeholders.
This performance, the report added, reinforces NNPC Ltd.’s strategic importance as a key revenue driver for the federal government amid fiscal pressures and structural reforms.
