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The Digest:

The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a profit after tax of N905 billion in June, a decrease from N1.054 trillion in May. This financial update explores deeper issues of national oil company performance, revenue generation, and contributions to the federation account, engaging public discourse on the state of Nigeria's oil sector.

Key Points:
  • NNPC Ltd's profit after tax for June was N905 billion.
  • This marks a drop from N1.054 trillion recorded in May.
  • The company made a statutory payment of N6.96 trillion to the federation account from January to May 2025.
  • NNPC generated N4.57 trillion in revenue from oil in June.
  • Crude oil and condensate production stood at 1.68 million barrels per day (bpd) in June.
  • Natural gas production increased to 7.581 billion standard cubic feet per day (scf/d).
  • Petrol availability at NNPC retail stations nationwide was 71% in June.
  • Major pipeline projects (OB3 and AKK) are nearing completion.
Despite a slight dip in monthly profit, NNPC continues to make significant contributions to the federation account and shows improvements in crude oil, gas production, and petrol availability. This ongoing performance reveals how deeply rooted national economic drivers navigate storms not just of market fluctuations, but of operational efficiencies.

Sources: Nairametrics, BusinessDay