NNPC Records N535bn Profit After Tax, N4.4trn Revenue in June 2026

By Adedapo Adesanya

The Nigerian National Petroleum Company (NNPC) Limited recorded a profit after tax of N535 billion in June 2026, representing a 15.8 per cent increase from the N462 billion posted in May.

This information was revealed in the company’s June 2026 Monthly Financial and Operations Report released on Friday, which also showed that revenue for the month stood at N4.389 trillion.

According to the report, cumulative statutory payments to the federation between January and June 2026 rose to N6.286 trillion, reflecting the company’s continued contribution to government revenue.

On the operational side, average crude oil and condensate production slipped slightly to 1.72 million barrels per day (mbpd) in June from 1.73 million barrels per day in May. The state oil company attributed the decline to operational disruptions, facility integrity issues, and subsurface challenges across some producing assets.

The production figure remains close to Nigeria’s recent output levels as the country continues efforts to sustain higher crude production through improved security around oil facilities, reduced crude theft, and increased investments in upstream operations.

Natural gas production, however, increased to 7.841 million standard cubic feet per day from 7.774 million standard cubic feet per day recorded in the preceding month, representing a 0.86 per cent rise.

The report also highlighted progress on key gas infrastructure projects. The Obiafu-Obrikom-Oben (OB3) Gas Pipeline reached 98 per cent completion, with final tie-in works underway ahead of the planned First Gas in August 2026.

The pipeline is expected to strengthen gas transmission between the eastern and western gas networks, improving supply reliability across the country.

Similarly, construction and installation of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline advanced to 94 per cent completion, supporting the target of delivering gas to Abuja in 2026. The project is designed to transport natural gas from southern Nigeria to the northern corridor, with early gas delivery to Abuja targeted for later this year.