The Nigerian National Petroleum Company Limited (NNPCL) has reported that it remitted N6.96 trillion into the federation account within the first five months of 2025.
Also, the company in its monthly report for June, announced a profit of N905 billion, which is a decrease from the N1.054 trillion profit earned in May.
Despite the drop in profits for June, the NNPC showed a significant increase in overall contributions, as this amount is higher than the N5.583 trillion remitted into the federation account from January through April.
The report noted that oil production has shown a rebound, with the company producing about 1.68 million barrels of oil each day in June, which is the highest level since January.
In terms of revenue, the NNPC earned N4.571 trillion in June, down from N6.008 trillion in May, reflecting changes in the global oil market.
Oil production saw a slight increase from 1.629 million barrels per day in May to 1.68 million in June.
Additionally, natural gas production rose to 7.581 billion standard cubic feet per day, improving from 7.352 billion in May, pointing to a recovery in output.
Fuel availability at NNPC’s fuel stations also improved, with petrol being available 71 percent of the time in June compared to 62 percent in May.
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Progress was made on key gas infrastructure projects as well: the Ajaokuta–Kaduna–Kano (AKK) pipeline is now 83 percent complete, up from 81 percent, and the OB3 pipeline is at 96 percent completion.
The report mentioned that NNPC is focusing on technical aspects of their projects, including a successful completion of a critical section of the AKK pipeline that lowers risks for future work.
Reviews are still ongoing for the Port Harcourt, Warri, and Kaduna refineries.
On the community engagement front, the NNPC recently conducted a financial literacy programme in June for over 67,000 National Youth Service Corps (NYSC) members across Nigeria, bringing the total number of participants in the programme to 870,383.
