NNPC Remits N6.96 Trillion to Federation Account in Five Months, Reports N905bn Profit in June

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has disclosed that it remitted a total of N6.961 trillion to the Federation Account between January and May 2025, underlining its critical role as a major revenue source for the federal government.

This was contained in the NNPC Monthly Financial and Operations Report Summary for June 2025, released on Monday. Despite a decline in monthly profit from N1.054 trillion in May to N905 billion in June the company noted improvements in crude oil and natural gas production, alongside key infrastructure project milestones.

According to the report, NNPC’s June revenue stood at N4.571 trillion, a drop from N6.008 trillion in May, attributed to fluctuations in the global oil market.

"Crude oil and condensate production rose from 1.629 million barrels per day (bpd) in May to 1.68 million bpd in June, the highest output since January 2025,” the report stated.

Similarly, natural gas output increased from 7.352 billion standard cubic feet per day (scf/d) in May to 7.581 billion scf/d in June, signaling a steady recovery in upstream activities.

Fuel availability also improved during the month under review, with petrol supply at NNPC retail stations climbing to 71% in June, up from 62% in May.

On infrastructure development, NNPC revealed that the Ajaokuta, Kaduna, Kano (AKK) gas pipeline project reached 83% completion, while the OB3 pipeline maintained a 96% completion level. A major milestone was the successful crossing of the AKK segment across the River Niger, significantly reducing risk factors for the remainder of the project.

A technical review of the OB3 River Niger crossing is now underway, leveraging insights gained from the AKK progress.

The report added that upstream pipeline availability slightly dipped to 97% in June, down from 98% in May.

Technical reviews for the Port Harcourt, Warri, and Kaduna refineries are still ongoing as part of the broader effort to revive Nigeria’s domestic refining capacity.

On the Corporate Social Responsibility (CSR) front, NNPC successfully conducted a Financial Literacy Programme for over 67,000 National Youth Service Corps (NYSC) members in June, bringing the cumulative number trained to 870,383.

NNPC emphasized that all financial, production, and operational figures provided in the report remain provisional and subject to reconciliation with relevant stakeholders.

Despite the month-on-month drop in profit, the NNPC noted that its performance underscores its continued strategic importance to Nigeria’s economy, especially amid ongoing fiscal pressures and structural reforms.