The Nigerian National Petroleum Company Limited has announced the remittance of N6.961 trillion to the Federation Account between January and May 2025.
This was disclosed in the company’s Monthly Report Summary for June released on Monday.
According to the report, NNPC posted a Profit After Tax of N905 billion for June 2025. This represents a decline from the N1.054 trillion recorded in May. Despite the monthly dip, the cumulative statutory remittances showed significant growth, rising from N5.583 trillion between January and April to N6.961 trillion from January to May.
Operational data revealed positive developments in production, with crude oil and condensate output increasing to 1.68 million barrels per day (bpd) in June. This marks the highest production level since January 2025 and shows an improvement from 1.629 million bpd recorded in May. The report stated that “Crude oil and condensate production increased slightly, rising from 1.629 million bpd in May to 1.68 million bpd in June.”
Natural gas production also showed improvement, rising to 7.581 billion standard cubic feet per day in June compared to 7.352 billion scf/d in May. The report noted that this indicates “a steady recovery in output.”
The company’s revenue for June stood at N4.571 trillion, down from N6.008 trillion in May. This fluctuation was attributed to volatility in global oil markets and production adjustments.
In the downstream sector, petrol availability at NNPC retail stations improved to 71% in June, up from 62% in May. The report also provided updates on key infrastructure projects, showing progress across several fronts.
The Ajaokuta-Kaduna-Kano Gas Pipeline advanced to 83% completion from 81%, while the OB3 Gas Pipeline maintained 96% completion. Upstream pipeline availability saw a slight dip from 98% in May to 97% in June.
The report highlighted significant milestones, including the successful River Niger crossing for the AKK pipeline, which has “significantly de-risked pipeline completion.”
Technical reviews are ongoing for the OB3 River Niger crossing, incorporating lessons learned from the AKK project. Rehabilitation works at the Port Harcourt, Warri, and Kaduna refineries continue to progress.
Under its Corporate Social Responsibility programs, NNPC conducted financial literacy training for over 67,000 National Youth Service Corps members in June. This brings the total number of beneficiaries under the program to 870,383.
The company emphasized that all production, sales, and financial figures remain provisional and subject to reconciliation with relevant stakeholders.
The report concluded by underscoring NNPC Ltd.’s critical role in sustaining government revenue during Nigeria’s ongoing economic reforms and fiscal challenges, stating that “This performance highlights NNPC Ltd.’s continued role as a crucial revenue contributor to the Nigerian government amid fiscal pressures and ongoing economic reforms.”
All figures are pending final verification with the appropriate agencies.
